Alitalia workers reject rescue plan
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| Alitalia's liquidity expected to run out in April 2017 without emergency funding, leaving its fleet grounded AFP/ALBERTO PIZZOLI |
Almost 90 per cent of its 12,500 employees participated in a vote and more than half those taking part opposed the deal.
The government had warned that there was no alternative to the plan, which called for 1,700 job losses and an eight-percent salary cut. The company's coffers are empty.
Italian press reports said Alitalia directors may as soon as Tuesday - a public holiday in Italy - ask the state to call in special administrators to prepare a possible takeover or liquidation.
The company is de facto controlled by Etihad Airways, which acquired a 49-per cent stake when it saved Alitalia from bankruptcy in 2014.
Etihad and Italian banks Intesa Sanpaolo and UniCredit have said they would only inject new funds if the unions agree to the new collective labour agreement and cuts.
The Italian government, which acted as a mediator in negotiations, warned on Apr 18 that a "no" victory would not only be costly but potentially fatal for the company.
Alitalia has been hit hard by competition from low-cost companies and has been accumulating losses for years.
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