Only a day before investor group Compagnia Aerea Italiana (CAI) was set to present an offer to Italian airline Alitalia, the group walked out of union negotiations over contracts. Unions insisted on time to examine the CAI contract proposal, allegedly provoking the walk out. The unions and investors must reach agreement by Friday in order for CAI to meet its offer deadline of Friday at midnight to rescue the bankrupt airline. The contract dispute concerns details associated with a previous agreement that only minimally outlined the investor bailout and layoff plans.
See "Alitalia investors walk out", International Herald Tribune, October 29, 2008