About. The Meloni government reopens the game on the sale of Italy Airways and re-admits the consortium to the competition MSc-Lufthansa which on 31 August the Draghi government had rejected in the two-way race for control over the Italian airline. The Mef had chosen Certares to continue the exclusive negotiation. The Minister of Economy Giancarlo Giorgetti (Lega), who was minister of economic development in the previous government, instead issued a statement on the evening of Monday 31 October in which it is stated that «the exclusivity obligations granted since 31 August cease today. Interlocutions continue for the definition of a possible agreement for the transfer of control of Ita".
Ita Airways sale: MSC-Lufthansa is back on track. Does Giorgetti call other candidates?
It is difficult to say, now, how the story will continue. Beyond MSc and Lufthansin fact, the Treasury could also send an invitation to make a new offer to Indigo Partners, the US fund that invests in low-cost airlines that had sent an expression of interest last spring but was then not admitted to the data room.
Giancarlo Giorgetti's choice is not of today. It was he who, the day after the decision to start exclusive negotiations with Certares, said that with the US fund - which presents itself with commercial allies Delta Air Lines e Air France-Klm — "the future of the company is not guaranteed" because there was no industrial partner. The consortium actually presented itself with more financial than industrial credentials given that the two allied companies had commercial agreements on the routes but did not enter into management. MSC-Lufthansa, on the other hand, are two giants that together have a turnover of around 60 billion euros a year.
Ita Ways: the hub of public participation
The Centares-Air France-Delta consortium said it was willing to leave it to the Ministry of Economy a share of 40-45% of Ita Airways thus ensuring the Italian government a greater margin of action on the future of the company. Furthermore, if the Italian State wanted to sell, it could have done so at an already established price. Finally, the MEF would have had two seats out of the five on the board of directors and the possibility of appointing the president.
All this, somewhat surprisingly, tipped the scales in favor of Certares despite the fact that until the end the opposing consortium was considered the winner. What will happen now? Will MSC and Lufthansa prove more flexible? Their offer envisages the acquisition of 80% of Ita Airways (60% to the Aponte family, 20% to the Germans) leaving 20% to the Treasury. Recently, Lufthansa CEO Carsten Spohr said he was interested in the Italian carrier only if there was the intention of seriously privatizing it, thus closing the hypothesis of a co-management of Ita, which according to him is the case of the competing offer. On the opposite front, Certares could relaunch by trying to involve one of the two commercial partners more directly, in particular Air France-KLM. But the Franco-Dutch group is also involved in the match on Tap. And the fate of Ita Airways is yet to be written.
