Plan to compensate BCCI creditors approved

LUXEMBOURG. Feb 1: A plan for compensating creditors of failed bank of Credit and Commerce international (BCCI) was approved yesterday by the Luxembourg Commercial Court It calls for payment by the majority stockholder in the scandal ridden bank, the Emirate of Abu Dhabi, of 1.8 billion dollars to creditors. Reports AFP

Alitalia cancels 27 flights

ROME Feb 1 Alitalia cancelled 27 flights Wednesday after flight attendants struck to protest the leasing of planes and crew from Australia. The four-hour long strike was the first of several set for this month against Italy's financially-ailing state airline An Alitalia spokeswoman said that I 1 of the cancelled flights were for international routes, reports AP