Though the plan was risky, Alitalia had hoped to stabilize the Italian air transport sector through a merger with Air One and the takeover of smaller carriers. While the Air One deal has been completed, the second goal has fallen flat. Europe's low-fare carriers will gladly take notice. In addition to Windjet, Blue Panorama—an early Boeing 787 customer—was a target. Earlier this month, talks with Windjet failed and the small, low-fare carrier stopped flying a few days later. Blue ...

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