This decision, announced in a press release, comes amid negotiations on the sale of the Italian public company, born a year ago from the ashes of Alitalia, to the US investment fund Certares, associated with Air France-KLM and DeltaAir. Lines.
The Italian state has vested Mr. Altavilla’s powers in General Manager Fabio Lazzerini, who will now be in charge of negotiations on the privatization of ITA Airways.
Altavilla, who has never hidden his preference for the competing offer presented by Lufthansa and the Italian-Swiss shipowner MSC, was criticized for not having provided all the information to the consortium led by Certares, which won the race for the takeover bid at the end of August. .
The administrators had met again after objections from the ITA board of auditors, which had questioned the regularity of the last meeting on October 12.
The Board of Directors reaffirmed that “the main task of the company is to maintain the industrial focus, continuing on the path that has been undertaken, which is giving better results than expected, with the aim of consolidating the relaunch of ITA Airways”.
The new government will have the last word
Certares is willing to spend 350 million euros to acquire a 50% stake plus one share in ITA and subsequently invest 600 million euros, according to the Italian press. The Italian Ministry of Economy, which owns 100% of the company, would have two seats out of the five that will make up the future ITA board of directors. This strong presence will allow him to continue to influence strategic decisions regarding ITA.
MSC and Lufthansa had offered at the end of August to pay 850 million euros for 80% of ITA, leaving the Italian state with only a 20% stake.
The outgoing government of Mario Draghi “has decided not to proceed with full privatization,” Lufthansa CEO Carsten Spohr said in Frankfurt on Friday.
“If there is a change of heart in Italy, I am ready to fly there every day, but it must be a full privatization, as originally envisioned,” he added.
The last word on the sale of ITA will have the new government that is preparing to form Giorgia Meloni, president of the post-fascist Fratelli d’Italia party and winner of the legislative elections on September 25.
Source: BFM TV
