Feb. 14 (Bloomberg) -- Intesa Sanpaolo SpA, Italy's second- biggest bank, will back Air One owner Carlo Toto's bid for a stake in Alitalia SpA with ``initial'' financing of 105 million euros ($137 million), the lender's chief said.

``We are committed to studying together a plan for Alitalia,'' Corrado Passera said today on the sidelines of a conference in Mumbai, India. ``The 105 million is only an initial investment.''

Toto's AP Holding SpA was one of five companies picked yesterday by the Italian government to bid for at least a 30.1 percent stake in the unprofitable carrier. Italy, which owns 49.9 percent of Alitalia, decided in December to sell the holding after Prime Minister Romano Prodi abandoned turnaround efforts.

To contact the reporter on this story: Flavia Krause-Jackson in Mumbai at fjackson@bloomberg.netAndrew Frye in Milan at afrye@bloomberg.net.

Last Updated: February 14, 2007 02:31 EST