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Tunisair is working on a new restructuring plan after its government owner walked away from a proposed overhaul that would have cost $1.3 billion Tunisian dinar ($457 million).
“We will use another plan that doesn't need for us this quantity [of money],” Ilyes Mnakbi, the airline’s chief executive, said on the sidelines of an industry conference in Kuwait. “We will make our own plan – not the government's plan – for restructuring the company. It will be less money than the other one … The government doesn't give us this amount."
Mnakbi provided few details about the revised plan, insisting that management were still weighing up several options. But he reiterated his support for three strategic priorities: fleet renewal; rationalisation of the workforce; and an increased focus on Africa...