(12-28) 07:06 PST ROME, Italy (AP) —

Italy’s economy minister said Friday he backed Air France-KLM as the preferred bidder for the government’s stake in troubled national carrier Alitalia.

Tommaso Padoa-Schioppa, speaking after a Cabinet meeting, said the company would now begin eight weeks of exclusive negotiations with the Franco-Dutch airline. Alitalia shares were suspended from trading on the Milan stock exchange pending a statement from the ministry.

Air France-KLM, the world’s largest carrier by revenue, was seen as a top contender for the Italian airline, which has been losing money for years. Last week, the board of Alitalia also chose Air France-KLM.

“We are convinced that the indication given by Alitalia’s board is the right one,” Padoa-Schioppa said.

Air France had no immediate comment in Paris.

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