ITA Airways: BoD revokes Altavilla's powers
Now the Italian Executive President could engage a legal battle
The Board of Directors of the air carrier ITA Airways voted by a majority in favor of the cancellation of the operational powers of the executive president Alfredo Altavilla. These are transferred to the managing director Fabio Lazzerini. This is a decision promoted by the six board members appointed by the Ministry of Economy and Finance (Mef), the sole shareholder of the company.
In particular, the handover concerns the delegation of strategic operations, concerning the privatization procedure of the airline, with the consequent sale of 50.1% of the share capital to the consortium led by the US investment fund Certares (together with the carriers Delta Air Lines and Air France-KLM).
Although the board meeting was called by the executive chairman Altavilla, even if at the request of the Board of statutory who had proved him right (by giving him back the proxies revoked during the previous board meeting), now the executive chairman could engage in a legal battle. In any case, the Mef will proceed with the sale of the flag carrier.
On the subject see also the article published by AVIONEWS.
AVIONEWS - World Aeronautical Press Agency