Ryanair has reiterated its interest in buying the trouble-ridden Italian carrier Alitalia but only if the company is restructured and if the Irish airline gets possession of a major stake, said a report.

Speaking to Italian media Ansa, Ryanair’s CEO Michael O’Leary said the airline would be interested in buying Alitalia if several important conditions were first fulfilled, including "getting a pie slice larger than 50 per cent", said a report in Aerotime.

Among the changes O’Leary deems necessary are a renegotiation of the deal with Italy’s airport company ADR regarding airport fees, the cancellation of the agreement with Air France (which prevent the company from developing long-haul routes), and last but not least – staff cuts.

RyanAir is one among 32 companies contending for the defunct airline. Alitalia, currently under special administration, will wait until July 21 for non-binding offers from interested buyers. The deadline for submitting binding offers is October.