Alitalia trade unions and the Italian government have approved the €1.43 billion ($1.25 billion) rescue plan for the debt-laden Italian flag carrier, following the board's approval of the scheme this month (Flight International, 9-15 April). The Italian treasury reassured unions that it will retain at least 50% of the airline and an earlier round of state funding will raise the treasury's stake from 53% to 62%. A shareholder meeting in mid-May must now approve the issue of new shares and convertible bonds worth €1.43 billion, of which the government will take €890 million worth.

Source: Flight International