Monday. October 16, is the deadline Alitalia faces for binding offers. The Italian company, which declared bankruptcy in May 2017, is expecting its new owner. 

According to the Italian daily Corriere della Sera, Lufthansa is ready to bid as much as Eur 500 million ($590 million) in order to acquire large parts of the carrier. The bid includes Alitalia’s fleet, pilots, air crew and air slots.  

The newspaper also reported a possible cut of 6,000 jobs and a reduction in the short- and medium-haul routes, relying on the information of unidentified sources.  

The Italian government has attempted saving the airline by offering several bridge loans, the latest one including a EUR 300 million extension.   

Both Alitalia and Air Berlin, parts of which were also recently bought by Lufthansa, have been controlled by Gulf Airline Etihad that has stopped financing them, which led to their bankruptcy.  

Alitalia declined comment on the information before the bidding is officially closed.