Ryanair to bid for parts of ailing Alitalia by Oct 2

Markets Associated Press

Ryanair's CEO says the low-cost carrier will make a bid for ailing Alitalia's long-range assets by Oct. 2.

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Michael O'Leary reiterated the intentions of his low-cost carrier to pick up parts of Alitalia, which filed for bankruptcy in May.

O'Leary also told reporters Wednesday that relaunching Alitalia requires job cuts, no matter who buys the company.

The ANSA news agency further quoted O'Leary as saying Ryanair would offer Alitalia growth prospects meaning eventually more job security for more people. He said Alitalia employees who'd work for Ryanair would have to work hard and that strikes wouldn't be tolerated.

O'Leary said Alitalia should have more long-range routes for Asia, Africa and North America.

Italian government officials have said they want to avoid seeing Alitalia's assets split up for sale.