Clash at the top of Ita Airways on the occasion of the board meeting on Wednesday 12 October. According to sources close to the company, the six outgoing directors supported by CEO Fabio Lazzerini intend to ask for the redistribution of powers related to privatization, which are in the hands of president Alfredo Altavilla.
However, the case of internal disputes within the board of directors of the national airline could have negative repercussions on the negotiations which at the moment see Certares attributing a value of 700 million euros to Ita (the fund would pay around 350 million euros and would then invest another 600 million ).
Clash at the top of Ita Airways: the request
As revealed by the Corriere della Sera, at the board meeting on Wednesday the six resigning members of the board - Lelio Fornabaio, Alessandra Fratini, Christine Girelli, Simonetta Giordani, Silvio Martuccelli e Angelo Piazza — would accuse President Altavilla "of not having made Ita's most sensitive information (route-by-route profitability) accessible to some of the members of the consortium led by Certares in the tender for privatization - namely to commercial partners Delta Air Lines and Air France -Klm”.
The request would find the support of Lazzerini, but not of the other member of the board, Frances Ouseleyair transport expert.
It is not clear at the moment whether this integration will take place (to date the agenda of the Board has not been revised), but tensions certainly remain high. Furthermore, it is the task of the Mef to scrutinize the work of the president and implement any countermeasures, and not of the advisers.
The board is ready to ask for 400 million euros
The Board of Ita Airways has been convened Wednesday 12 October at 11 pm to approve the data for the first half of this year closed in red. In approving the accounts, the board will ask the MEF for the allocation of the second tranche of 400 million euros, scheduled for 2022 and authorized by the EU Antitrust. On September 30, Ita Airways' cash register amounted to 200 million euros, but in mid-November it risks falling below the alarm threshold of 100 million.
Ita Airways: appointment calendar
As far as negotiations are concerned, in-depth studies are continuing with Certares, the US fund which officially won the challenge against MSC-Lufthansa for the acquisition of a majority stake in the Italian company. On Tuesday at 16pm the fund emissaries will see i sindacati, while in the second part of the week Certares will meet with theENAC. While another appointment with the managers of the Italian company and the delegates of Delta Air Lines and Air France is not scheduled before October 17th.
