Italy cleared the way for the sale of a minority stake in ITA Airways, a key step in ending months of uncertainty over the government’s plans for the successor to bankrupt Alitalia SpA.
(Bloomberg) — Italy cleared the way for the sale of a minority stake in ITA Airways, a key step in ending months of uncertainty over the government’s plans for the successor to bankrupt Alitalia SpA.
Rome approved a decree on Wednesday aimed at speeding up the sale procedure for ITA, according to a government official. That could open the way for Deutsche Lufthansa AG to take a minority stake in ITA, as reported by Ansa newswire on Tuesday. In that scenario the government would retain its majority holding.
The deal would allow Lufthansa to expand in one of Europe’s biggest aviation markets. Lufthansa had originally planned a joint bid with MSC Mediterranean Shipping Company SA, but the company withdrew in November.
The previous administration under Prime Minister Mario Draghi had chosen a rival group led by Certares Management LLC, Delta Air Lines Inc and Air France-KLM as the preferred bidder. Current Premier Giorgia Meloni reopened talks with Lufthansa and MSC after she took office in October.
(Corrects to Wednesday in second paragraph.)
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