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Alitalia workers plan to join a bid for insolvent airline -Panorama magazine
September 6, 2017 / 7:57 PM / 2 months ago

Alitalia workers plan to join a bid for insolvent airline -Panorama magazine

ROME (Reuters) - A group of Alitalia employees is preparing to join up with a non-European carrier and two Italian financial partners to bid for the insolvent airline, Italian weekly Panorama reported on Wednesday.

FILE PHOTO: Scale models of Alitalia airplanes are displayed at a shop selling models of vehicles in Rome, Italy October 31, 2013. REUTERS/Alessandro Bianchi/File Photo

Rome is looking for a buyer for all of Alitalia, which is under special administration for the second time in a decade. Around 10 bidders, including Ryanair (RYA.I), have expressed an interest in acquiring all of the carrier or part of its assets.

Two pilots have now rallied support among Alitalia’s roughly 11,600 staff for a plan to buy 10-20 percent of the company, possibly partly financed by their severance pays, Panorama reported. It did not say how many employees were involved.

The magazine did not name the other airlines or financial partners involved. It said the workers’ bid was motivated by a desire to keep their jobs.

Binding offers for Alitalia must be presented by Oct. 2.

Reporting by Isla Binnie; Editing by Susan Fenton

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