video Video
2,000 Alitalia jobs at risk - sources
Friday, November 25, 2016 - 01:52
Alitalia could cut up to 2,000 jobs as controlling shareholder Etihad Airways pushes for sweeping changes to turn the loss-making airline around, according to sources. As Ciara Lee reports, it comes as Lufthansa cancels 830 flights on Friday as pilots extend their strike.
▲ Hide Transcript
▶ View Transcript
It was the deal that was supposed to change the fortunes of Italy's Alitalia. 560 million euros invested by Etihad Airways two years ago, part of a wider 1.7 billion euro rescue plan. But sources say Alitalia could be about to slash up to 2000 jobs. And potentially ground at least 20 planes as it struggles to compete with low-cost rivals and high-speed trains. (SOUNDBITE) (ENGLISH) HEAD OF GLOBAL EQUITIES AT HENDERSON GLOBAL INVESTORS, MATTHEW BEESLEY, SAYING: "Alitalia has been a struggling airline for from a cost potential and a revenue return potential for multiple decades now, simply because the company has never really grasped the nettle of restructuring that many of the other flag carrier peers across Europe have - obviously very successfully, British Airways now part of IAG with Iberia, but also to some degree, Lufthansa and Air France too." The news comes amid deepening challenges across the sector - Lufthansa now in day 3 of its pilots strike. One of Europe's biggest airlines, it's canceled over 2,600 flights since pilots began a strike on Wednesday. The airline's shares are down more than 13 percent this year with neither pilots or management looking any closer to backing down. (SOUNDBITE) (German) EXECUTIVE BOARD MEMBER OF PILOTS UNION, 'VEREINIGUNG COCKPIT', JOERG HANDWERG, SAYING: "If Lufthansa's Chief Executive says there is no leeway to find a solution and that Lufthansa will go bankrupt if it pays pilots even just one euro more, then I ask myself how serious their arbitration offer can be." Etihad had pledged to return Alitalia to profitability by next year. But sources say it will likely remain loss-making for the next two to three years. And the implications could be significant for the Italian government - just days from a referendum on reforms that Prime Minister Matteo Renzi has staked his political future on.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code
2,000 Alitalia jobs at risk - sources
Friday, November 25, 2016 - 01:52
Top News »
8:47pm BST - (2:02)
7:20pm BST - (2:09)
5:31pm BST - (1:25)
3:39pm BST - (1:55)
3:23pm BST - (2:05)
2:42pm BST - (0:32)
12:42pm BST - (1:16)
1:58am BST - (1:55)
12:17am BST - (1:02)
Wed, 18 Apr, 2018 - (1:52)
Wed, 18 Apr, 2018 - (0:58)
Wed, 18 Apr, 2018 - (0:35)
Editors' Picks »
1:55pm BST - (0:57)
10:24am BST - (1:45)
Tue, 17 Apr, 2018 - (2:44)
Tue, 17 Apr, 2018 - (2:15)
Mon, 16 Apr, 2018 - (1:59)
Sat, 14 Apr, 2018 - (1:09)
Sat, 14 Apr, 2018 - (2:15)
Sat, 14 Apr, 2018 - (1:40)
Thu, 12 Apr, 2018 - (2:11)
Wed, 11 Apr, 2018 - (2:09)
Most Popular »
Tue, 28 Nov, 2017 - (2:21)
Thu, 05 Jun, 2014 - (0:59)
Tue, 11 Jul, 2017 - (1:03)
Mon, 18 Jul, 2016 - (2:06)
Business »
8:11pm BST - (5:44)
7:16pm BST - (1:31)
6:14pm BST - (4:23)
5:30pm BST - (1:27)
5:30pm BST - (1:47)
5:29pm BST - (1:27)
5:21pm BST - (0:56)
1:38pm BST - (1:32)
1:38pm BST - (1:48)
1:38pm BST - (0:56)
1:37pm BST - (1:07)
1:37pm BST - (1:39)
Featured Videos
World Toad in the Hole Championships
The aim of the traditional pub game originating from France is to land as many large brass coins or 'toads' in a table's small hole
Tarantula burgers on the menu
For adventurous diners, tarantula topped burgers are available at a Durham, North Carolina restaurant as part of its ‘exotic meat’ month
Runners brave the cold for North Pole Marathon
Runners brave freezing conditions at top of the world in North Pole Marathon
UK firm turns discarded gum into shoes, coffee cups and combs
Chewing gum is a blight on city streets and takes a heavy toll on the environment, say its critics. But one woman in Britain is performing modern-day alchemy on it
After oil, solar? Saudi Arabia plans ahead
Researchers in a lab outside Riyadh are leading the kingdoms ambitious new plans to be a world leader in solar energy
Technology »
5:02pm BST - (1:54)
3:46pm BST - (0:46)
Wed, 18 Apr, 2018 - (1:03)
Wed, 18 Apr, 2018 - (1:01)
Wed, 18 Apr, 2018 - (1:35)
Tue, 17 Apr, 2018 - (1:25)
Tue, 17 Apr, 2018 - (1:07)
Mon, 16 Apr, 2018 - (1:54)
Mon, 16 Apr, 2018 - (1:48)
Entertainment »
8:46pm BST - (1:19)
3:41pm BST - (1:28)
10:55am BST - (1:36)
Wed, 18 Apr, 2018 - (1:04)
Wed, 18 Apr, 2018 - (1:54)
Tue, 17 Apr, 2018 - (1:34)
Tue, 17 Apr, 2018 - (1:17)
Tue, 17 Apr, 2018 - (1:48)
Tue, 17 Apr, 2018 - (1:05)
Mon, 16 Apr, 2018 - (1:47)
Sports And Leisure »
3:06pm BST - (2:22)
10:22am BST - (0:48)
10:22am BST - (1:19)
Wed, 18 Apr, 2018 - (3:00)
Wed, 18 Apr, 2018 - (1:30)
Tue, 17 Apr, 2018 - (1:23)
Mon, 16 Apr, 2018 - (2:02)
Mon, 16 Apr, 2018 - (2:55)
Fri, 13 Apr, 2018 - (0:52)
Fri, 13 Apr, 2018 - (1:25)
Oddly Enough »
8:24pm BST - (0:53)
5:46pm BST - (0:53)
Tue, 17 Apr, 2018 - (1:33)
Tue, 17 Apr, 2018 - (1:27)
Thu, 12 Apr, 2018 - (0:49)
Wed, 11 Apr, 2018 - (3:54)
Tue, 10 Apr, 2018 - (0:56)
Tue, 10 Apr, 2018 - (0:45)
Thu, 05 Apr, 2018 - (1:40)
Dateline Asia »
Tue, 05 Dec, 2017 - (2:06)
Tue, 05 Dec, 2017 - (2:11)
Fri, 01 Dec, 2017 - (2:04)
Thu, 30 Nov, 2017 - (2:10)
Thu, 30 Nov, 2017 - (2:14)
Wed, 29 Nov, 2017 - (2:11)
Tue, 28 Nov, 2017 - (1:55)
Mon, 27 Nov, 2017 - (2:25)
Fri, 24 Nov, 2017 - (2:16)
Fri, 24 Nov, 2017 - (2:14)
Thu, 23 Nov, 2017 - (2:18)
Thu, 23 Nov, 2017 - (2:13)