Berlusconi vows to rescue Alitalia within weeks

0 Comments | AFP, April, 2008

MILAN (AFP) — Prime minister-elect Silvio Berlusconi promised on Wednesday to put together an Italian consortium to rescue the national airline Alitalia within five weeks, but warned of big job cuts.

"After four or five weeks of 'due diligence' a consortium of investors will be able to make a firm offer," Berlusconi said on Italian radio.

He spoke after Air France-KLM formally withdrew its offer for the failing airline and the outgoing government approved a massive emergency loan.

"A painful reduction in personnel will be necessary, unfortunately," Berlusconi said, adding, without elaborating: "The state will assist those who lose their jobs."

In the campaign leading up to his convincing election win last week, the billionaire media tycoon repeatedly...