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ITA Airways: privatization could slow down

After Air France recapitalization boost bid with Certares fund

At the closing of deadlines for submitting binding offers for the acquisition of the majority stake in the flag carrier ITA Airways two proposals had arrived: one is that of the Italo-German axis Msc-Lufthansa and another that of the US fund Certares. Both are under consideration by the Ministry of Economy and Finance (Mef), but according to rumors there is a knot that could slow down the selection process. 

This is according to the newspaper "Il Corriere della Sera". There would be a development in the involvement of the airline Air France alongside the US fund Certares, which could force officials to delay the decision beyond June, discouraging the other suitor Msc-Lufthansa. It all comes after Air France's recent 2.26 billion Euros capital increase: this would allow it to give back the public aid it received during the pandemic and thus make new investments in ITA Airways.

In short, when officials ask for clarification on Certares' offer, which is currently lower than that of Msc-Lufthansa, there could be surprises. In the meantime, many people fear that it will end up like in 2000: when the airline KLM broke its relationship with Alitalia, due to commitments disregarded by Rome, and then merged with Air France, creating one of Europe's leading aviation groups. Now instead of Klm there would be Msc or Lufthansa.

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AVIONEWS - World Aeronautical Press Agency