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Alitalia airline moves one step closer to collapse

Despite the fact that investors were waiting in the wings for the go-ahead it seems as though a dispute with Unions has scuppered the final chance of saving the stricken airline Alitalia. It seems crazy that the Unions would rather reject the rescue package and see the airline go to the wall than agree to structured job loses and at least employment for some of the airlines employees. So what next?

This really was the last throw of the dice for the troubled airline which has been under bankruptcy protection for a number of days ahead of a hoped bail out by the government or investors. Now that those avenues have now been exhausted there is literally no where to go, finance is fast running out, debts are mounting and scheduled flights have been suspended.

This is the latest in the ongoing capitulation of the airline industry which only a couple of years ago was flying high with traffic numbers up and costs under control. But the credit crunch and the rise in the price of oil has caused a double whammy for the industry with cost rising as demand falls. There literally is nowhere for these troubled airlines to go except down.

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