Manufacturing Industry
Alitalia shares rise as deal with pilots confirmed
Airline Industry Information, Sept 15, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Shares in Italian airline Alitalia rose to their highest level in 2004 after it struck a deal with its pilots over a proposed restructuring plan.
Alitalia hopes the new deal will lead to its ground staff and cabin crew also agreeing to the plan. If all parties agree then the company can gain access to a EUR400m loan to keep the airline in business and kick-start the restructuring process.
The airline's shares rose 8% after the deal was confirmed, marking a 50% overall rise in the value of Alitalia shares in September 2004, reports Reuters.
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