Alitalia: a story of wasted money

Delta and EasyJet confirmed yesterday that they had joined hands with Italy’s state-backed railway company Ferrovie dello Stato to explore a bid to take over the country’s troubled national carrier Alitalia. A sale of Alitalia, which was placed into administration in 2017 after a string of restructurings and investments over the past decade had failed to shift the Italian flag carrier’s fortunes, has been years in the making and drawn a handful of interested bidders. Ferrovie dello Stato said that it would begin negotiations with Delta and EasyJet to agree a plan for Alitalia... The lossmaking carrier has been circled by suitors before, and had earlier counted Gulf carrier Etihad as a minority shareholder before its collapse in 2017. International airlines Lufthansa and AirFrance-KLM, as well as private equity group Cerberus Capital Management, had all previously approached Alitalia. Lufthansahas said it is only interested in acquiring Alitalia if the airline conducts a round of extensive job cuts while in administration. The German carrier also has made its offer conditional on getting full control of Alitalia, without government ownership. Air France-KLM was not expected to renew its interest in the carrier in the latest round of bidding,
Eric Platt and James Fontanella-Khan