My Big Fat Airline Merger
You might be forgiven for mistaking the pending privatization of Alitalia for the plot of a new romantic comedy–say, My Big Fat Italian Wedding. All the elements are there: the clumsy, unattractive bride to be, the parents desperate to marry her off to any suitor who can come up with a suitable dowry, the relatives anxious to make sure the dowry is large enough, the handful of frustrated suitors and the doddering grandfather who won’t let the bride marry a handsome foreigner.
Last week, Alitalia’s unions failed to come to terms with a bid for the airline by Air France–KLM. The $1.17 billion bid had been approved by Alitalia’s board and the Italian government. After weeks of negotiation and many concessions, Air France–KLM gave up and withdrew its bid. Stirring in trouble was former Italian prime minister Silvio Berlusconi, who decried the notion of “giving our national airline to the French.” Continue reading “My Big Fat Airline Merger”