As I wrote about yesterday, Alitalia employees essentially just voted in such a way that the airline will shortly be going out of business (or perhaps the way they see it, they’re calling the bluffs of management and the government and expecting to be bailed out for the umpteenth time).
Alitalia has been in a terrible financial situation for a long time, though it has been especially bad lately. They’ve been on the verge of liquidation, but for political reasons got a new business plan approved by the board that would have kept them alive (see yesterday’s post for more on that).
However, the new business plan being approved was contingent upon layoffs and also employees taking pay cuts, and that’s something employees voted against. As a result, Alitalia is out of luck — their creditors won’t fund their new business plan (or more accurately they don’t have a new business plan, since it was contingent upon employees agreeing to it), the government won’t bail them out, and the airline will run out of cash in the coming weeks.