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Ita Airways:
Lufthansa is still interested
Photo: REMO CASILLI / REUTERS
Another government decision is pending regarding the planned sale of the Italian state airline Ita Airways.
Prime Minister Mario Draghi - after his resignation in July he is currently in charge - has to decide at the end of August whether the airline should be privatized or postponed, as the "Corriere della Sera" reported on Sunday.
On Monday, a bid period expires until midnight for the bidders.
In the race for the successor to Alitalia are the cruise and container giant MSC together with the German Lufthansa and the US investment company Certares.
Ita is valued at around 850 million euros, the newspaper report said.
The two companies wanted to take over 80 percent of the airline.
20 percent then remained in the possession of the responsible Ministry of Finance.
According to government circles, this is the preferred solution, wrote the “Corriere della Sera”.
However, the ministry is demanding more money and a say, which is unlikely to go down well with the bidders.
Bidders from the USA are only aiming for 60 percent
According to the report, Certares only wants to take over 55 to 60 percent of Ita and would therefore pay less.
The government does not consider direct entry by the US airline Delta Air Lines to be permissible because Delta did not have access to Itas' books, which were made available to the bidders in advance.
So the only solution would be a new trial, in which Delta could then step in as a shareholder.
That would mean a postponement of privatization.
Draghi's list of options would also include doing nothing, as the "Corriere" went on to write.
According to circles, this is problematic because Ita may have to ask the government for more money at the end of 2023.
But that violates the agreement with the EU Commission in Brussels.
In addition, Ita's development plan is on the brink.
la/dpa
