Tags: EU | Italy | Alitalia

Report: Lufthansa Preparing Alitalia Bid with Steep Cuts

Monday, 16 October 2017 06:08 AM

MILAN (AP) — The Italian daily Corriere della Sera says Lufthansa is preparing a 500 million-euro ($590 million) bid for large parts of bankrupt Italian carrier Alitalia, including the fleet, pilots, air crew and air slots.

Alitalia, which declared bankruptcy in May, faces a Monday deadline for binding offers.

Citing three unidentified sources, Corriere said that Lufthansa's plan calls for cutting 6,000 jobs and reducing the airline's short- and medium-haul routes, which have suffered under the pressure from low-cost airlines. Alitalia declined comment.

Lufthansa recently reached a deal to buy parts of the bankrupt carrier Air Berlin. Both Air Berlin and Alitalia have been controlled by Gulf airline Etihad, which has ceased financing.

The Italian government has offered bridge loans, including a new 300-million-euro extension, to keep the airline operating.

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The Italian daily Corriere della Sera says Lufthansa is preparing a 500 million-euro ($590 million) bid for large parts of bankrupt Italian carrier Alitalia, including the fleet, pilots, air crew and air slots.Alitalia, which declared bankruptcy in May, faces a Monday...
EU,Italy,Alitalia
129
2017-08-16
Monday, 16 October 2017 06:08 AM
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