Air France-KLM has made a non-binding offer for struggling Italian airline Alitalia in the form of a share swap.

But it gave no details of the share exchange ration, the assumed value of Alitalia or the timing.
The French-Dutch combine is also prepared to buy all Alitalia’s convertible bonds. The Air France-KLM plan also includes a cash injection of at least €750m which it will use to update and improve Alitalia’s fleet and improve ground services.
Italian airline Air One also wants to take over Alitalia and has pledged to pump in €1bn.
The Italian government, which owns almost 50% of Alitalia shares, will decide on the new owner this week.