Unicredit has denied press reports that it has been in contact with German carrier Lufthansa in regards to preparing a bid for ailing Italian airline Alitalia.
According to the Rome daily Il Messaggero, Italy's biggest bank communicated with Lufthansa through the German bank HCB, which Unicredit controls.
The daily added that the German airline may be willing to become Alitalia's stratgic partner and hold a a minority stake in the Italian carrier, but only under precise conditions.
These included not being in any way responsible for Alitalia's massive debt, said to be around 1.3 billion euros, in order not to compromise Lufthansa's own credit rating.
The Germans, Il Messaggero wrote, are ready to act as technical consultants for a possible consortium of Italian investors interested in acquiring Alitalia, which would be responsible for restructuring the airline, its debt and winning the support of unions.
Alitalia at the end of March had some 180 euros in cash, which was enough to keep it flying for two or three months.
In addition this the Italian government approved a 300-million-euro 'bridge' loan to get it through the summer and allow potential buyers time to examine the airline's books and present a formal bid for the 49.9% controlling stake in Alitalia held by the Treasury.
Last month Air France-KLM withdrew its offer for Alitalia, which had been accepted by the Italian carrier and the Treasury but ran into the opposition of unions and the incoming center-right government.
