ITA Airways (2): the Government does not want to get burned
The MSC-Lufthansa and Certares consortiums look closely at the economic and political scenario
The Ministry of Economy and Finance (Mef) has given the green light to the disbursement of aid for 400 million euros to be allocated to the air carrier ITA Airways, whose coffers are now short of liquidity. This is the first act of the new Executive concerning the Italian air transport sector. The two consortium interested in taking over the majority of the airline look closely at the scenario: MSC-Lufthansa and the US fund Certares.
Neither of the two suitors are forcing the way to grab the airline. However, the Italian executive aims to close the deal as soon as possible. Of course without getting burned: as happened to previous governments with the former Alitalia. The management of the national airline is a politically very delicate matter.
Meanwhile, the company is eroding the state coffers: the Mef has just put 400 million euros on the plate and another 250 million in 2023. In addition, expensive fuel and the surge of the dollar against the euro have generated 203 million euros of unexpected costs. And even if ITA Airways has exceeded one billion in revenues in the year, the desire to trigger an auction is not perceived between Certares and MSC-Lufthansa.
AVIONEWS - World Aeronautical Press Agency