Following the collapse of several European travel firms in the past week it has emerged that Italian national carrier Alitalia is to slash 3000 jobs in a last ditch attempt to rescue the ailing airline from liquidation. Italy’s four main labour unions have signed a deal with business consortium CAI who will put forward a 1billion Euro offer to buy Alitalia. The Airline which is said to be running out of money to pay its fuel bills is currently operating under a bankruptcy commissioner.

The rescue proposal is strongly opposed by unions representing pilots and cabin crew.