Alitalia shares continued to rise on Monday after Premier Romano Prodi said the government would move quickly on a plan to halve its controlling stake in the troubled carrier.
Alitalia rose 2.12% while more than 11% of its capital exchanged hands amid feverish trading.
Earlier Prodi told reporters that the government would organise the sale of part of its 49.9% stake "very quickly" and "according to international standards".
He said the sale plan would be ready "within hours".
The government announced last Friday that it would be unloading its controlling interest in Alitalia, sending the airline's share price soaring by more than 11%.
The Treasury's quota is expected to be reduced to 25%, with the sale taking place early next year.
Alitalia, which is forecast to lose more than 220 million euros this year, is also searching for a partner to help secure its future.
Alitalia's government-appointed CEO Giancarlo Cimoli said last week that the carrier's survival depended on a major alliance.
Alitalia has opened exploratory talks with Air France-KLM, Europe's biggest airline, but they appear to have run aground.
Other possible suitors include Air China, Thai Airways and Emirates.
Alitalia reported a third quarter loss of 65.8 million euros against a 15.7-million euro profit a year earlier.
It attributed its declining performance to strike action by employees and high fuel prices.
Alitalia has not reported an annual profit since 2002.
In October, Prodi held emergency talks with Alitalia management to see what options were open to the company.
The premier said ahead of the encounter that Alitalia's financial problems were "completely out of control" and that the carrier would go bust within three months unless it overhauled its industrial strategy.
The government has promised to come up with a rescue plan by the end of January and is urging the airline to find a partner.
The company received a 400-million-euro bailout from the government last year as part of a previous restructuring plan.
Alitalia faces fresh turbulence this month when unions are planning a one-day strike.
