Potential buyers for Alitalia have emerged as the Rome government’s deadline passed for investors to express their interest. An Italian private equity firm – Management and Capitali – has confirmed it is in. A little known financier Paulo Alazraki also says he has submitted an expression of interest.
According to sources US-based buyout firm Texas Pacific Group wants to throw its hat into the ring .. and there have been reports also about smaller Italian carrier Air One.
Whoever takes on the struggling strike-prone airline will inherit one billion euros of debt, on a company that last year had turnover of 4.3 billion euros and lost an estimated 380 million euros.
The Italian government owns 49.9% of Alitalia and is offering to sell 30.1%. Whoever buys that will then have to launch a bid for the whole company.
The government has set numerous conditions included that the company maintain its brand and national identity, the cities served and the size of its work force.