The world 19th biggest airline with series of both financial and structure problems the company has provided, despite almost 10 years since the beginning of privatization the company has never managed to get it on track. Finally, Alitalia declared bankrupt. "false privatization" as 49% shares held by the Italian government, 49% by workers and the rest 2% held by KLM-Air France, seriously not as privatized as other airlines.
I remember, it was year 2000, when Alitalia was in talk with a possible merger with KLM (Royal Dutch airlines). Alitalia ground staff worker's union and politics refused the plan to go ahead. In recent years, Alitalia could not borrow enough money to buy new airplanes to replace old ones (from my knowledge, Alitalia has too many old type MD-82 and only new ones are A321).
There are many reasons for this sad result, but I doubt only budget airlines should be blamed. The day for mismanagement finally has to pay the prize.
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