Alitalia is facing liquidation

Italy's national airline Alitalia is facing liquidation after an investor group withdrew its proposal to buy the company in the face of union opposition. Consequently, a series of flights have and continue to be canceled. Italian officials, including Prime Minister Silvio Berlusconi, admitted the critical status of the airline in a series of statements on 19 September 2008. Italy's Civil Aviation Authority will reportedly inspect the airline shortly and could suspend its operating license within 7 to 10 days. The Italian government holds a 49.9 percent stake in Alitalia and may be forced to nationalize the carrier on a temporary basis, according to Berlusconi, although he is attempting to spearhead a renewed push for the investors to follow the original plan.