Alitalia announces 690 layoffs to come

Company restructuring to save 30 million euros

Alitalia announces 690 layoffs to come

(ANSA) - Rome, October 16 - Italian flag carrier Alitalia announced on Tuesday that 690 employees will be lain off in restructuring plans for the debt-laden airlines. The industrial plan will provide a savings of approximately 30 million euros, Alitalia said. Airline trade unions said that layoffs include 300 flight attendants, 300 ground staff and 90 maintenance workers. Union meetings with airline management are slated to continue throughout the day Tuesday. Last July following the company's first-half results board meeting, the company's chief executive Andrea Ragnetti said, "The worst is over...but many sacrifices are still necessary and we have to remain united and determined. 2013 should be the year when Alitalia returns to operating profitability after more than 20 years of losses". Alitalia, previously owned by the Italian government, was sold to a consortium of private investors, including the Benetton family, Air France, Italian bank Intesa Sanpaolo and Piaggio chairman Roberto Colaninno (who also serves as chairman of parent company CAI) in 2008. As part of the sale, the buyers also purchased independent airline Air One, and merged it into the "new" Alitalia. Under state ownership Alitalia had racked up billions of euros in losses, despite various, failed restructuring efforts and millions in subsidies. Repeated attempts to find private owners for the airline had failed.

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