Air One sees 1,500 job cuts for Alitalia revival

The group headed by Italian holding company AP Holding SpA interested in bidding for Alitalia SpA sees 1,500 job cuts among ground staff as necessary to turn around the loss-making airline, daily Il Sole-24 Ore reports, without citing sources, Tuesday. AP Holding’s book value of its carrier Air One, shares of which are expected to be used in joining the two airlines, is 876 million euros, the paper says. The company is scheduled to meet Alitalia’s labour unions Wednesday.