Aeroflot bid for Italian airline
In a surprise move, Aeroflot have made a bid for the Italian flag carrier Alitalia:
Aeroflot joined with the largest Italian bank, UniCredit, on Monday to bid for most of the 49 percent stake in Alitalia held by the Italian Finance Ministry, which is selling its shares in hopes that a private owner will have better luck reviving the money-losing airline.
Experts seem to think that it’s a bit too much for Aeroflot to take on just after a major restructuring of its own.
A part of me thinks, if they’ve got the money, they might as well spend it on expansion. But I also wonder whether Aeroflot is following the recent Russian trend of making high profile purchases, with more of an eye for their international image than their long-term profitability.