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Italy: Ryanair bids on Alitalia

By  |  July 25, 2017

Irish Ryanair is trying to increase its influence in Italy by buying out bankrupt airline Alitalia.

It is currently believe that Alitalia has received about 10 offers, mostly due to the number of routes the airline controls.

Ryanair CEO Michael O’Leary said of the offer, “We are serious in indicating we have an interest in Alitalia. But we are also serious in that our interest in Alitalia is only if there is a significant restructuring so that Alitalia could reasonably be seen to operate on a profitable basis.”

Presently, Ryanair is the largest airline in Italy, controling 28% of the market.

Alitalia filed bankruptcy after workers rejected a rescue plan that included wage cuts. The Italian government has invested more than US$7.69 billion into the airline over the last 10 years and has ruled out a bailout.

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