Alitalia is reputed to be losing 1 million ($1.4 million) a day. Last December, the Italian government put 39.9% of its 49.9% shareholding up for sale, and 11 bidders initially emerged. Seven months and three chairmen later the auction had collapsed. Alitalia's latest chairman is studying yet another turnaround plan – is it the fifth or sixth in four years? – while the government talks of another attempt at privatisation. Is the government fiddling while Alitalia burns?