The long-running speculation over the fate of bankrupt Italian flag airline Alitalia has taken another new, and interesting twist, with revised bids reported that shakes up the bidder mix. Trustees had set a deadline of April 30 for bids, and a Sept. 30 deadline for decision.
EasyJet and Lufthansa have been interested parties all along, but stories in the Italian press in the past few days have shaken the mix a bit. First, Hungarian discounter Wizzair appears to be interested, and EasyJet, the only bidder to publicly express current interest, has formed a consortium for its bid that includes Delta Airlines and former competing bidder Cerberus Capital.
Delta, which has had a long history with Alitalia as SkyTeam partners and codesharers, is new to the story. As part of a consortium, its interest might be primarily in the long-haul routes with EasyJet interested in the domestic side, where its rival Ryanair has taken over as Italy’s #1 domestic carrier.
A major unresolved issue for any buyer is what the Italian government will accept in terms of restructuring. Several previous offers, including Lufthansa’s, have been conditioned on a fairly-free hand to cut staff and other expenses, and that has been a political issue in Italy for years. Italian officials recently floated the idea of the government keeping 49% of the airline for this reason.
Tune in any day now for new twists and turns.
