Air France-KLM Reaffirms Alitalia Deal Is Dead (source: Dow Jones)
The planned takeover by Air France-KLM of Italy's Alitalia is definitively off, a senior executive of the Franco-Dutch airline reaffirmed Monday.
"We couldn't go through with it under the current conditions, and I don't see what could possibly make us change our minds," Air France KLM Chief Financial Officer Philippe Calavia told Dow Jones Newswires on the fringes of an event to present the Franco-Dutch airline's environmental strategy.
Calavia blamed Italian political interference for the collapse in the plan for Air France-KLM to take over the financially crippled Italian carrier.
"It doesn't make things easy when a company is trying to persuade unions to change the way it operates, and an election campaign knocks everything back five years. It would be better if governments didn't get involved," Calavia said. He added: "We're taking a shorter-term view of things, and in the short-term, the (Alitalia) file is closed."