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ITA Airways: the steps of privatization

A preliminary agreement is expected not before the end of October

A preliminary agreement between the Ministry of Economy and Finance (Mef) and the Certares fund (with the carriers Air France and Delta Air Lines) for the purchase and sale of the majority of the capital of the national airline ITA Airways, a company in the process of privatization, it would be expected "not before October".

This was reported by "Il Corriere della Sera", which cites ministerial sources. In short, the negotiation goes on for a long time. The duration of the negotiations was set at 30 days and was to be concluded by the end of September. However, the sources explain, two weeks after the announcement the negotiations had not yet begun as the parties were defining the rules for accessing ITA Airways' confidential documents and awaiting responses to their respective requests for further information.

Meanwhile, the exclusive negotiation between Mef and the US fund Certares will have a process that includes at least 18 technical stages: the negotiation period will probably be further extended in order to try to reach a preliminary agreement. At the moment the fund has not set deadlines, also to understand the new configuration of the Italian Government after the elections of next September 25. 

On the subject see also the article published by AVIONEWS.

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AVIONEWS - World Aeronautical Press Agency