ATL Atlantia

   By Giulia Petroni 
 

Atlantia SpA (ATL.MI) said late Tuesday that it won't take part in a consortium led by Italian infrastructure rail group Ferrovie dello Stato to rescue loss-making carrier Alitalia SpA.

After months of negotiations, the infrastructure company said the conditions to join a consortium haven't been met, but it assured that it remains available to help seeking an industrial partner for the airline rescue plan.

"The necessary conditions have not yet been met for Atlantia to participate in the consortium," the company said.

"In any case, Atlantia is willing to contribute seeking an industrial partner and defining a solid and long-term business plan for the relaunch of Alitalia."

Atlantia, the majority-owner of Aeroporti di Roma SpA, previously said it was willing to participate in the rescue of the troubled carrier and has been in talks for months with Ferrovie dello Stato and Delta Air Lines (DAL) to form a consortium.

The current deadline to present a binding offer to rescue the airline has been set for Nov. 21. Alitalia has been losing money for years and entered administration in 2017 after Etihad Airways, which had taken a 49% stake in company, tried unsuccessfully to turn the airline around.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

November 20, 2019 07:03 ET (12:03 GMT)

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