ITA Airways: how much the State will earn
Costs and revenues in the privatization of the national airline
The privatization of the national airline ITA Airways will be finalized after the elections on September 25th. The US investment fund Certares, commercially allied with the carriers Delta Air Lines and Air France-KLM, valued the Italian airline for 950 million euros. So how much will the State earn from the negotiation?
If the transaction were completed, the initial collection by the Ministry of Economy and Finance (Mef) would amount to 350 million euros for the sale of 51% of the company's capital (49% remains with Mef). The offer of Certares provides for the payment of a further 600 million (to reach a total of 950 million), but these would be paid as a capital increase to support investments, and would not go to the Mef.
On the other hand, the Italian executive would have disbursed a total of 1.35 billion between money already put in and more to be paid. In fact, the losses of ITA Airways have already eaten up a part of the capital paid by the Mef (720 million), which should pay another 400 million euros, already authorized by Brussels, for the capital increase by 2022.
AVIONEWS - World Aeronautical Press Agency