Could Gulf funds rescue Alitalia?

It must be assumed the mess at Alitalia stinks so bad Gulf investment funds have gagged at the prospect of taking it on. The Italian airline, estimated to be losing $1.5m a day, is desperate for new money, and, after Air France-KLM pulled out of talks this week, there aren’t many alternatives.
Gulf investment funds are being courted worldwide, and by a range of industry sectors. Strange, then, that with Etihad, Emirates and Qatar Airways so buoyant, Abu Dhabi, Dubai or Qatar don’t want to get to grips with sorting out Alitalia. Sure, the airline has problems, but on the plus side it has brand recognition, decent slots in major European airports and, naturally, great slots at home. All things Gulf carriers covet.
The difference is Alitalia has a unionized workforce. Air France-KLM walked after proposals to cut 2,100 jobs and get to work on trimming costs were rejected by the unions. Italian politicians have even stepped in to say they would veto job cuts.
There is nothing wrong with Gulf funds steering clear of this mess, but it would be interesting to see how they would handle such a tricky rescue rather than the usual blue chip or cash-for-growth investment.