Alitalia sale process enters new phase

Alitalia has opened a new phase in its sale process, setting a deadline of 15 September for expressions of interest in making a binding bid.

A source with knowledge of the matter says that within 10 days of this deadline expiring, Alitalia's special commissioners will consider the offers and notify parties that have met the "requirements". Those shortlisted will then have until 2 October to submit a binding offer.

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This will be followed by phase in which they have an opportunity to "improve" their offers before making final bids on 5 November.

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Italian media reports suggest that up to 13 parties made nonbinding proposals for Alitalia in July. Ryanair has confirmed that it did so.