Delta Air Lines and Air France-KLM won their joint bid for ITA Airways, entering exclusive talks with the Italian government over plans to privatize the carrier formerly known as Alitalia.
Italy’s Finance Ministry said Wednesday that a bid from the consortium, which also includes investment firm Certares Management LLC, emerged as the most suitable as the government seeks to hand over control of the reincarnated flag carrier. The government said a final deal isn’t certain. “At the end of exclusive negotiations, binding agreements will be signed only if the outcome is fully satisfactory for public shareholders,” the ministry said.