Atlantia Backs Away From Alitalia Consortium
November 20 2019 - 7:18AM
Dow Jones News
By Giulia Petroni
Atlantia SpA (ATL.MI) said late Tuesday that it won't take part
in a consortium led by Italian infrastructure rail group Ferrovie
dello Stato to rescue loss-making carrier Alitalia SpA.
After months of negotiations, the infrastructure company said
the conditions to join a consortium haven't been met, but it
assured that it remains available to help seeking an industrial
partner for the airline rescue plan.
"The necessary conditions have not yet been met for Atlantia to
participate in the consortium," the company said.
"In any case, Atlantia is willing to contribute seeking an
industrial partner and defining a solid and long-term business plan
for the relaunch of Alitalia."
Atlantia, the majority-owner of Aeroporti di Roma SpA,
previously said it was willing to participate in the rescue of the
troubled carrier and has been in talks for months with Ferrovie
dello Stato and Delta Air Lines (DAL) to form a consortium.
The current deadline to present a binding offer to rescue the
airline has been set for Nov. 21. Alitalia has been losing money
for years and entered administration in 2017 after Etihad Airways,
which had taken a 49% stake in company, tried unsuccessfully to
turn the airline around.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 20, 2019 07:03 ET (12:03 GMT)
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