Airlines EasyJet and Delta Air Lines are reportedly in talks to form a consortium to acquire the struggling carrier Alitalia.
Under the proposed arrangement, EasyJet and Delta would partner with Ferrovie dello Stato Italiane, Italy’s state rail company. The involvement of a domestic majority owner would satisfy Italian requirements that a national firm hold the controlling stake in any domestic airline.
The three parties first signaled interest last year in a restructured Alitalia. EasyJet confirmed in a recent statement that it is “in discussions with Ferrovie dello Stato Italiane and Delta Air Lines about forming a consortium to explore options for the future operations of Alitalia.” The company also cautioned that talks are exploratory and that “there is no certainty at this stage that any transaction will proceed,” adding it would provide updates when appropriate.
Alitalia has faced long-running financial challenges, entering bankruptcy proceedings in 2017. Previously, Abu Dhabi’s Etihad Airways held a 49 percent stake in the carrier as part of a strategy that ultimately did not resolve Alitalia’s underlying difficulties.
Any consortium proposal would aim to stabilize Alitalia’s operations and satisfy regulatory and national ownership rules while leveraging the partner airlines’ networks and resources. For EasyJet and Delta, a partnership could open opportunities to expand routes and connect transatlantic and European services more efficiently. For Ferrovie dello Stato Italiane, participation would align with broader national interests in preserving Italy’s flag carrier and maintaining domestic connectivity.
At this stage, details such as the exact structure of ownership, the division of operational responsibilities, and the financial terms remain under discussion. Stakeholders, regulators and creditors would need to review and approve any agreement. Given Alitalia’s history and the complexity of airline restructuring — including labor agreements, fleet decisions and slot allocations — any transaction would likely be subject to lengthy negotiations and regulatory scrutiny.
Observers note that previous attempts to revive or reconfigure Alitalia have faced obstacles related to its debt load, profitability challenges and competitive pressures within Europe’s aviation market. Potential buyers or partners typically weigh the strategic benefits of expanded route networks and market access against the costs of restructuring and ongoing operational risks.
Should the consortium move forward, it could represent a significant shift in Italian aviation, bringing together a low-cost European carrier, a major U.S. airline and a state-owned transport company. However, until formal agreements are announced, the discussions should be regarded as preliminary and exploratory.