CAI, the Italian investment consortium offering to invest €1 billion ($1.4 billion) in an Alitalia restart, yesterday gave the airline's nine labor unions until 3:50 p.m. today in Rome to accept concessions, ATWOnline reported.
It claimed it would withdraw its offer if the unions don't meet the deadline. Italian media have reported that at least five of the nine unions have not agreed to the concessions, without which CAI says it won't be possible to turn around the troubled carrier.
Italian Prime Minister Silvio Berlusconi warned the unions earlier this week that a failure to agree to CAI's proposal would mean AZ's imminent "failure". Among the worker groups resistant to the concessions contained in the proposal are pilots and flight attendants.
"The moment has come to appeal to the sense of responsibility of all those [AZ workers] who hesitate and seem not to realize that the alternative is bankruptcy and the loss of 20,000 jobs," Berlusconi said.