Investors intending to submit bids to buy Alitalia (AZA, Rome Fiumicino) and Alitalia CityLiner (CYL, Rome Fiumicino) have been invited to submit expressions of interest (EOIs) by 0000L (2300Z) on March 18, a call for submissions released by the carrier’s state-appointed commissioner Giuseppe Leogrande outlined on March 5.

Prospective buyers can bid for the airline, which temporary administrators have run since May 2017, either in its entirety or for one of its three businesses; aviation, handling, or maintenance. However, offers for the whole company will take privilege, the document specified.

“Preference will be given, in accordance with the principles regulating the extraordinary administrative procedure of large companies in a state of insolvency, firstly to bids for the Single Lot. [...] Likewise, preference will be given to a number of interdependent bids, submitted contextually by two or more entities but aimed at implementing a single combined business project,” part of the text said.

EOIs can be submitted for the whole company, or the aviation division, by companies or consortiums of any nationality with an average annual gross turnover in the last three financial years of the equivalent of at least EUR1 billion euros (USD1.13 billion).

Alternatively, they can have net equity of at least EUR250 million (USD283 million) as reported at the end of the last financial year, or be in possession of their own financial resources for the same amount.

Interest in the handling lot may be expressed by companies or consortiums with an average annual gross turnover in the last three years of at least EUR50 million (USD57 million). Or they should have net equity of at least EUR25 million as reported at the end of the last financial year or be in possession of their own financial resources for the latter amount.

EOIs for the maintenance division can come from companies or consortiums with an average gross turnover in the last three years of at least EUR30 million (USD34 million). Or they should have net equity of at least EUR15 million (USD17 million) reported at the end of the last financial year or be in possession of their own financial resources for the same amount.

Eligible entities will be allowed, during the procedure, to establish or modify a consortium, also by joining with entities that have so far expressed no interest, the document said.

Within five working days of receiving the EOIs, the commissioner pledged to notify each applicant of its admission to the next stage, and also to notify it of any further documents that may be needed to prove its eligibility.