Alitalia: Who Wants this Airline?

Perhaps surprisingly, a lot of people. But it's still up in the air as to which group of bidders will gain control of the troubled carrier

Italy's Alitalia may be tagged with the unflattering nickname "Always late in the air, late in arrival," but that hasn't dulled the appetite among buyers angling to take over the ailing national carrier. On Feb. 13 five bidders made the Italian treasury's short list to buy a controlling interest in the money-losing airline, including three Italian groups—a fund, a bank, and a private airline entrepreneur—and two top American private-equity funds.

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