Air France-KLM made a conditional offer at the weekend for the troubled Italian carrier Alitalia. The offer – one Air France-KLM share for 160 Alitalia shares – is worth €138m.

With 49.9% of the shares in state ownership, the offer is subject to the approval of the Italian finance ministry as well as the trade unions.
Italy is holding parliamentary elections on April 13 and 14 and the result could affect the sale. The centre-left parties support the sell-off, while right-wing parties are against, fearing it would change the Italian character of the carrier.