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ITA Airways: 400 million from the Government

Executive chairman Alfredo Altavilla will soon be removed

The Italian Government is ready to disburse 400 million euros that will go to replenish the coffers of the Italian airline ITA Airways. This is a capital increase, already authorized by the European Commission. The Executive would have gladly avoided the outlay, but the privatization should have been completed by October.

The Ministry of Economy and Finance (Mef) will formalize the disbursement of the money tomorrow in the shareholders' meeting. Also on the agenda is the removal of the executive president, Alfredo Altavilla , who ended up in the crosshairs of the six members of the board of directors (appointed by Mef), who revoked his powers on charges of having hindered the sale of the airline to the consortium led by the US investment fund Certares (together with the carriers Air France and Delta Air Lines).

Gic - 1247789

AVIONEWS - World Aeronautical Press Agency