logo-loader
vieweasyJet plc

easyJet pulls out of consortium contemplating bid for collapsed airline Alitalia

The budget carrier said it had withdrawn from the group, which would have seen it partner up with Italian state railway operator Ferrovie dello Stato Italiane and US airline Delta

Alitalia aircraft
Alitalia collapsed into administration in 2017 for the second time in a decade

easyJet PLC (LON:EZJ) has pulled out of a consortium contemplating a bid for bankrupt Italian carrier Alitalia, just over a month after confirming its involvement in the process.

The FTSE 100 budget carrier said it had withdrawn from the grouping, which would have seen it partner up with Italian state railway operator Ferrovie dello Stato Italiane and US airline Delta, but added that it was still “committed” to the Italian market and would continue to invest in three bases in Milan, Naples, and Venice.

READ: easyJet says in discussions with others, including Delta Air Lines about forming consortium to explore options for Alitalia

Back in February, easyJet had confirmed that it was in discussions with the other consortium members, having previously submitted a non-binding expression of interest in a restructured Alitalia in October last year.

The Italian carrier collapsed into administration in 2017 for the second time in a decade as it continued to lose money and struggled to compete with budget rivals, with the Italian government left searching for a buyer ever since.

In mid-afternoon trading Monday, easyJet shares were down 1% at 1,246.5p.

Quick facts: easyJet plc

Price: 1362 GBX

LSE:EZJ
Market: LSE
Market Cap: £5.41 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Belvoir Group's Dorian Gonsalves discusses acquisition of Lovelles

Belvoir Group PLC's (LON:BLV) Dorian Gonsalves speaks to Proactive London's Andrew Scott following the news they're to acquire Lovelles, a privately-owned franchised estate agency network with 19 branches in the Lincolnshire and Humber region. Separately he says trading in the second half of...

13 hours, 58 minutes ago

RNS

Director/PDMR Shareholding

1 day, 15 hours ago

Directorate Change

3 days, 15 hours ago

Annual Financial Report

1 week, 2 days ago

Final Results

3 weeks, 3 days ago

Director/PDMR Shareholding

1 month, 1 day ago

Holding(s) in Company

on 21/10/19

2 min read