Delta submits proposal to buy bankrupt Alitalia
Delta Air Lines confirmed it has filed an official bid proposal to take over debt ridden carrier Alitalia.
The Atlanta based airline will face competition from budget carrier EasyJet and Italian state railway company Ferrovie dello Stato.
State-appointed administrators for the airline confirmed it received two binding bids and an expression of interest.
However it won’t necessarily be a ‘winner takes all’ scenario.
EasyJet is a short haul European specialist which wouldn’t necessarily impact Delta’s transatlantic business.
It paves the way for the possibility of multiple owners.
"Finding an industrial partner is going to be key," said Deputy Prime Minister Luigi Di Maio.
Alitalia has been in financial trouble since Etihad Airways finally pulled its funding and then employees rejected a $2 billion financing package tied to company-wide job cuts of more than 10%.
The airline is currently operating thanks to a bridging loan from the government which runs out at the end of the year.
This will likely be topped up as talks continue over new investment.
Meanwhile, Alitalia just announced it will launch five weekly flights to Washington Dulles from Rome starting in May 2019.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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