The Richest Woman in the World: How Gina Rinehart Earns her Billions
Why Dell Will Never Be Great Again
Apparently, the United States is not the only country with money-losing airlines. Take a look at Italy's largest carrier, Alitalia SpA. The company hasn't seen profits since 2002.
Yet, it doesn't seem to be an issue for a buyout. In fact, the company has received 11 offers (the current value of the company is about $2 billion).
One of the bidders is the Texas Pacific Group , which is a mega private equity firm. Actually, the firm has a long track record with airline deals, such as with the turnaround of Continental (NYSE:CAL) as well as the recent purchase of 37.5% of Qantas.
However, TPG takes a scalpel to its buyouts. This could be a problem given Italy's tough unions.
The company's biggest owner is actually Italy. In other words, it may be a sign that the government is finally willing to get tough.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
