Ryanair is preparing takeover bid for Alitalia, says Michael O'Leary

Ryanair is preparing a binding takeover bid for Alitalia but has no interest in Air Berlin, according to its CE, Michael O’Leary. O’Leary said Ryanair was finalising the details of a deal that would be just the second major acquisition in the airline’s 33-year history. Alitalia’s brand and long-haul operations would survive the takeover but Ryanair, which prefers to own its aircraft, would jettison Alitalia’s model of leasing planes. O’Leary said he hoped any deal would see Alitalia pilots and crew keep their jobs, but signalled that they would have to accept altered employment terms in line with Ryanair’s own. Air Berlin is also on the block but O’Leary said he had no interest in making a bid, repeating previous accusations that it was a stitch-up designed to make Lufthansa stronger. <br/>