Italy's second-largest carrier, Meridiana, has appointed the UK's Lloyds Bank to advise it on seeking a European strategic airline partner. The airline's president Franco Trivi expects a deal to be agreed within six to eight months.
Long-established Meridiana had run the risk of losing market share to new rivals, particularly since last summer was dominated by labour disputes resulting from the company's inability to implement an agreed employee share-ownership scheme.
However, a formula has since been found to enable 16.7% of the airline's shares to be distributed among the staff in return for productivity improvements, making the carrier much more attractive to outside investors.
British Airways had formerly been linked with the carrier, but Air France is being suggested as the most probable alliance partner. Although Meridiana's network complements that of flag carrier Alitalia, any attempt to formalise a relationship is likely to meet with disapproval from Italian and European anti-trust authorities.
Milan-based Air One, meanwhile, still wants a major partner. The airline is under extra pressure since Air Europe's alliance with Swissair and Air Dolomiti's tie-up with Lufthansa, both moves involving equity stakes.
Source: Airline Business
