easyJet share price: Airline submits revised offer for Alitalia

Group reportedly makes joint approach with Air France-KLM and Cerebrus

easyJet share price: Airline submits revised offer for Alitalia

easyJet (LON:EZJ) has submitted a revised offer for struggling Italian carrier Alitalia, the London-listed low-cost airline has said. The move came as Bloomberg reported that the FTSE 100 group had made a joint approach to the Italian airline together with Air France-KLM and Cerebrus Capital Management.

easyJet’s share price has been little changed in today’s session, having given up 0.34 percent to 1,633.50p as of 09:11 BST, as compared with a 0.25-percent dip in the benchmark FTSE 100 index. The airline’s shares have added more than 51 percent to their value over the past year.

easyJet submits revised offer

easyJet announced in a short statement to the London Stock Exchange yesterday that it had submitted a revised expression of interest for a restructured Alitalia, together as part of a consortium, consistent with its strategy for Italy. The airline, however, noted that the expression of interest was subject to confidentiality, and cautioned that there was no certainty that any transaction would proceed.

Earlier this year, the London-listed low-cost carrier snapped up part of collapsed carrier Air Berlin’s German operations, taking advantage of the ongoing industry turbulence which has also claimed Monarch and Alitalia.

Part of consortium

A person familiar with the matter meanwhile told Bloomberg that easyJet had made a joint approach for the Italian carrier together with Air France-KLM Group and Cerebrus Capital Management. A spokeswoman for Air France-KLM, however, told Reuters in an email that the Franco-Dutch group denied “any interest to do a bid on Alitalia”.

Reuters further reported that Lufthansa had also submitted a document, setting out its ideas for a ‘new’ Alitalia.

“We can imagine further talks being held on this basis,” a spokesman told the newswire.

As of 09:46 BST, Wednesday, 11 April, easyJet plc share price is 1,634.50p.

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