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ITA Airways sale at risk

The two consortiums involved take advantage of the stalled privatization

The privatization of the Italian air carrier ITA Airways proceeds slowly after the Government led by the new President of the Council of Ministers, Giorgia Meloni, has interrupted the exclusive negotiation with the US investment fund Certares (together with Air France and Delta Air Lines), started on 31 August 2022 under the leadership of the former Mario Draghi Executive. 

The success of the privatization of the airline is expected at least in 2023. According to some experts in the sector, there is a risk that the airline will be sold off to avoid burning further money, after the aid of 400 million euros just approved by the 'Italian executive. In 2023, Italy will have to put another 250 million euros on the table. At that point the country will have exhausted the available treasury and will have to sell ITA Airways urgently.

Thus the knots of the dispute with the two suitors open up. The first consortium involved, the Italian-German Msc-Lufthansa, wants 80% of the company's capital, but this will to command contrasts with the convictions of Fratelli d'Italia, hoping to convince the airline to cohabit with the public partner. For its part, Certares is waiting and does not seem willing to participate in a relaunch auction for ITA Airways.

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AVIONEWS - World Aeronautical Press Agency