Decision to privatize ITA Airlines of Italy
In Italy, the right-wing coalition government led by Giorgia Meloni adopted the decree approving the sale of a minority stake, taking steps to privatize the flag carrier ITA.
According to Italian press reports, the German flag carrier Lufthansa, known as one of the frontrunners to join ITA Airlines, has paved the way for the government-approved privatization process. In line with this decision, the green light was given for the sale of ITA’s minority shares to Lufthansa.
It was also reflected in the press that the German company could take control of the company by increasing its capital in the future.
In the Corriere della Sera newspaper news, it was noted that initially Lufthansa could have a 40 percent stake. In the news, it was claimed that the Italian government has invested 1.12 billion euros for ITA, which was established in October 2021.
“For the first time in the last 20 years, the revenue item in the Italian flag carrier’s budget exceeded the cost item,” said Fabio Lazzerani, chief executive officer (CEO) of ITA Airlines. ITA Airlines was founded in October 2021 following the closure of the 75-year-old airline Alitalia, which was financially supported. (AA)
Source: Sozcu
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