Italy's state-owned national railway firm, Ferrovie dello Stato (FS), has been given until April 30 to formulate a binding offer for Alitalia (AZA, Rome Fiumicino) after initially asking the Italian government for a two-month extension.
The deadline for submissions expired on March 31 with FS the only viable contender so far. The firm had sought the extension in order to iron out a business plan for the bankrupt carrier.
Sources familiar with developments told Dow Jones that the new date was communicated to FS chief executive Gianfranco Battisti via a letter from Alitalia's extraordinary commissioners in concert with the Italian Ministry of Economic Development.
FS has courted multiple prospective investors including Delta Air Lines (which has been unofficially linked to a 10% stake) and China Eastern Airlines as well as various Italian state and privately-owned entities.
Alitalia's bankruptcy commissioners last week warned FS that the sales process could not go on indefinitely and urged it to formalise a deal or walk away in which case the carrier would be liquidated.
