Partnership: Alitalia eyes Air India

London: Another year, another business plan.
Less than 12 months after a vital, 1 billion euro ($1.25 billion) equity issue revived its ailing balance sheet, Italian flagship carrier Alitalia is back in the red.
Rescuing Alitalia, however, will be tougher this time around.
The question remains: Who would want to join forces with a company Citigroup recently described as "besieged by inertia, labor strikes and increased competition from new entrants and low-cost airlines"?
Possibly an Asian carrier, Alitalia and the government seem to believe.
In an interview this month with the Italian newspaper La Repubblica, Deputy Prime Minister Francesco Rutelli said the airline is eying partners like Emirates Airlines, Air India and Cathay Pacific Airways in the hope that they may be less risk-averse than potential European allies.
Some analysts -- increasingly doubtful that continued Alitalia independence is even worthy of consideration -- welcome that move.
"The airline continues to be loss-making, and it is becoming clear that long-term survival as an independent entity is no longer an option," Exane BNP Paribas analysts told clients.
Aude Lagorce/Dow Jones/Easy Bourse (Communiqués de presse), France

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