Italian Government announced to retake 51% stake in Alitalia, which has gone through two bankruptcy proceedings, one privatization, and bail out capital injections of over €9.5 billion.
Italian Minister, Danilo Toninelli, wanted Alitalia’s future to “remain Italian,” and announced to control 51% stake, while the remaining will be held by international partners who comes with an offer. However, there is signs of international investors showing interest. Earlier partnership with Etihad short-lived and Lufthansa said it would be interested in Alitalia “only if is possible to make a fresh start”
Alitalia had been a financial burden for tax payers since 2008, and still continues to bleed over €400 million per year, without any signs of showing profits.