Alitalia is lining up banks to advise it on the sale by the Italian government of a controlling stake in the Rome-based airline, after a group of entrepreneurs last week bid for the business.

Citi, Deutsche Bank, JP Morgan and Banca Leonardo have all been mooted as potential advisers to Alitalia, according to Italian business daily Il Sole, in addition to Merrill Lynch, which is running the sale of the business.