Air France-KLM SA is in advanced talks to acquire Alitalia - Compagnia Aerea Italiana S.p.A. by the summer, Messaggero newspaper reported without citing its sources. Air France has entrusted the deal to Lazard, the report said. Alitalia's shareholders can exercise options to trade their shares when a lock-up period ends on January 12, 2013.

Air France-KLM has reportedly offered the shareholders a 20% premium on what they paid for the airline in 2008. Reuters reported that Alitalia and Air France-KLM officials were not immediately available for comment.