 confirmed on Monday that it had made a "non-binding offer" for Italian carrier Alitalia, which went into administration back in May.){kind=link}
Budget airline Ryanair (LON:RYA) confirmed on Monday that it had made a “non-binding offer” for Italian carrier Alitalia, which went into administration back in May.
“We are serious in indicating we have an interest in Alitalia,” said Ryanair chief executive Michael O’Leary said. Alitalia filed for special administration for the second time since 2008, when it was sold by the government to private investors. A public bail out has been ruled out, however, and the group will now either be restructured, sold off or wound up.
O’Leary added: “But we are also serious in that our interest in Alitalia is only… if there was a significant restructuring so that Alitalia could reasonably be seen to operate on a profitable basis,” and said there would need to be “an absence of Italian government interference”.
The government have provided a bridge loan, allowing Alitalia to continue operating for a further six months. The company is now accepting non-binding offers, and is said to have received 10 from interested parties.
News of Ryanair’s non-binding offer comes just hours after the company warned again on the impact of Brexit, alongside the release of its second quarter results. The company reported a 55 percent profit increase, but shares fell as O’Leary said it remained cautious about business from 2019 onwards.
Shares are currently trading down 2.22 percent at 17.70 (1507GT).