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Alitalia chairman ready to quit after industrial plan approved - source
March 14, 2017 / 5:38 PM / 6 months ago

Alitalia chairman ready to quit after industrial plan approved - source

Luca di Montezemolo addresses the audience after being inducted into the 2015 Automotive Hall of Fame in Detroit, Michigan July 23, 2015. REUTERS/Rebecca Cook

ROME (Reuters) - Alitalia Chairman Luca di Montezemolo is ready to leave his position at the loss-making airline after the board approves a new industrial plan, a source close to the situation said on Tuesday.

The Alitalia board will meet on Wednesday to discuss the new plan, the source added.

Alitalia’s controlling shareholder Etihad Airways, which has a 49 percent stake, is pushing for deep job cuts. The airline’s financial losses and failure to fend off low-cost competition is widely blamed on years of poor management.

Reporting by Alberto Sisto, writing by Gavin Jones

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