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ITA Airways: new bids by July 5

Data room reopened to Msc-Lufthansa and U.S. fund Certares

The Italian Ministry of Economy and Finance (Mef) will fail to identify a buyer for the national airline ITA Airways by June 30. The deadline for closing negotiations, therefore, is slipping. On a request for further information from the two interested parties, the executive had to reopen the airline's data room on June 22. Then by July 5, the two must submit binding offers. 

There are two interested parties: on the one hand, the Italian-German one consisting of shipowner Msc and airline Lufthansa; on the other hand, the one formed by the US fund Certares with the airlines Air France and Delta Air Lines. The government is reported to have ordered that management enter new documents into the data room and that others be updated. 

In the meantime, the ministry is responding to the questions that both groups have sent in the meantime, but there remains the issue of the industrial development plan that needs to be revised. By July 5, the two parties must submit an offer, from which they cannot withdraw, containing all the economic (future investments), industrial (the multi-year plan) and governance details. The opinion of Palazzo Chigi is expected between July 7 and 8.

On the same topic see also the article published by AVIONEWS

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AVIONEWS - World Aeronautical Press Agency