The administrator dealing with failing Italian airline Alitalia has placed the company for sale in several Italian newspapers.

Augusto Fantozzi invited offers from "whoever" could guarantee the future of the airline, which is estimated to be losing more than £1.5m daily.

The deadline for any potential buyers to step forward is the end of the month, although such an eventuality appears unlikely.

"There are no prospects for a rescue in reasonable time," commented administrator Augusto Fantozzi.

The Italian airline is the latest travel company to experience financial difficulties in recent weeks.

Zoom Airlines and XL Leisure Group both entered administration in September, citing the rising cost of fuel as a major factor.