Greybull Capital, the owner of Monarch Airlines, is the latest company to emerge as interested in Alitalia, highlighting the possibility that the Italian flag carrier’s operations could be sold off separately—even though Italy’s government has stated a preference for a sale of the company as a whole. Investment company Greybull, which is most famous for its rescue of British Steel—and which took a majority stake in Monarch Airlines in 2014—is looking at ...

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