Aeroflot earlier took part in a tender to buy the government stake, but the Alitalia management considered a bid by Air France-KLM more attractive. Buy out talks were later stopped after a deadlock with trade unions.
Aeroflot said it had no plans to resume negotiations, but made a u-turn after Vladimir Putin, the then-president of Russia, met with Italian prime minister-elect Silvio Berlusconi in Sardinia in April.
Valery Okulov said Aeroflot did not have the figures required to assess Alitalia's current financial state and a final decision would depend on the terms and conditions for the sale approved by the Italian government.
"A year ago it was still possible to regulate [it]. Now we are concerned that the point of no return has passed," Okulov said.
Alitalia's losses in 2006 were 380 million euros ($604 million). The strategic investor picked by the Italian authorities will have to implement a rescue plan to save the loss-making carrier.
