Efromovich, who was in May ousted as chairman of the Colombian airline but remains the majority shareholder, has reportedly presented a formal bid, according to Italian newspaper Il Sole 24 Ore.

Italy’s ministry of economic development recently extended the deadline for bids to 15 July.

FlightGlobal, citing an Italian government disclosure, reports construction company Toto Holding and owner of Lazio football club Claudio Lotito are among those to have also lodged bids for Alitalia.

Italian state rail company Ferrovie hello Stato, which has been handling matters relating to the sale of Alitalia, is searching for a fourth investor to complete a new consortium and become majority shareholder.

Ferrovie would take a 35% stake, the government 15% and Delta Air Lines 10% to 15%, leaving between 35% to 40% of the company up for grabs. Il Sole 24 Ore reports a 30% stake in Alitalia would be available for about €240 million.

Over the past two years, Ryanair, Monarch owner Greybull and easyJet have all either expressed an interest, or lodged a bid, for a stake in Alitalia.

The most recent approach saw easyJet earlier this year ponder a joint bid with Delta. However, the airline pulled out of the rescue consortium in March.