Ita Airways, the Treasury chooses the Certares-Air France-Delta- consortium

The Ita Airways dossier reaches a turning point. The Ministry of Economy and Finance immediately started, on 31 August, “an exclusive negotiation with the consortium formed by Certares, Delta Air Lines and Air France-KLM”. This was confirmed in a note by the dicastery “following the procedure governed by the dpcm of 11 February 2022 and aimed at the transfer of control of ITA SpA (as the company headed by Ita Airways is called, ed) “. The decision comes not without some surprises since until a few days ago the proposal by MSC and Lufthansa was given the advantage.

The motivations

The offer led by the US fund according to the Treasury – which today is the sole shareholder of the Italian company – “was deemed more in line with the objectives set by the Prime Minister’s Decree”, the statement continues. “At the conclusion of the exclusive negotiation, binding agreements will be signed only in the presence of content that is fully satisfactory for the public shareholder”, underlines the ministry.

The turning point

The turning point – from what has been learned – is recorded between Monday 29th and Tuesday 30th August. Convincing the offer of Certares-Delta-Air France would also have been the fact that leaving the public shareholder 45% of Ita for Rome, there would be greater control over the future of the company that took off last October 15 instead of Alitalia. On the other hand, the rigidity of MSC-Lufthansa on the distribution of shares would not have been appreciated (the two giants wanted to take over 80%, leaving 20% ​​to the Mef).

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