British Airways will consider whether it is willing to buy a stake in Italian airline Alitalia, which has been bought by an Italian consortium that plans to relaunch it, a source close to the talks said.

BA, along with Air France-KLM and Lufthansa, is battling in a three-way race to become Alitalia's foreign partner, but unlike the French and German carriers has said it is only interested in a commercial deal with the Italian carrier.

But the CAI group that has bought Alitalia says it would favour striking an alliance with a foreign airline willing to buy a stake rather than seeking a commercial deal.

BA, whose CEO Willie Walsh met CAI's CEO Rocco Sabelli in Rome on Tuesday, has agreed to let the Italian consortium know in the coming days whether it is willing to buy such a stake, the source said.

Walsh earlier today was quoted by the Italian business daily Il Sole 24 as saying that he was open to a commercial alliance with a revamped Alitalia.

He did not exclude a commercial accord eventually leading to a wider agreement, including the possible purchase of a stake.

"What we are offering, under current conditions, is a credible collaboration that will leave the Italian company the possibility of deciding its own future in a flexible manner," Walsh was quoted as saying.