Bankruptcy Looms For Alitalia

Law360, New York (January 24, 2006, 12:00 AM EST) -- With shaky finances and labor problems growing more severe by the day, Italian airline Alitalia is scrambling to come up with a restructuring plan that will appease both union workers and creditors and allow the airline to escape bankruptcy.

As airlines worldwide succumb to financial struggles and file for bankruptcy protection, Alitalia has been a hold-out, teetering on the brink of bankruptcy and recently pushed closer even closer to the edge by massive strikes.

As the strikes entered their fifth day, the Italian airline was forced...
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