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Ryanair in for Alitalia

 1 min read / 

The Irish airline has submitted a non-binding bid for a majority stake in the struggling Italian flag carrier.#

Editor’s Remarks: Alitalia went into administration in May after staff rejected a restructuring plan that would have cut salaries and jobs. Italy’s government provided the airline with a €600m bridging loan to keep planes up in the air while it considers whether to sell or close it down and is said to have received up to 10 non-binding bids from other airlines so far. Now the aggressive boss of Ryanair, Michael Leary, is interested on the condition that he gets a majority stake, is allowed to restructure further and to develop long haul routes. Alitalia is 49% owned by Etihad (through a €1.7bn in 2014) who wants to buy the remaining shares and other interested airlines include Lufthansa and Delta Airways. Ryanair has also said it would be interested in taking over Alitalia’s short haul business if they do not purchase as it looks to boost its strong position in the European airline market.

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