The Genoa Chamber of Commerce has blocked the proposed purchase of 15% of the Genova Airport company by the Mediterranean Shipping Company (MSC) maritime group. The second largest shareholder (holds 25%) of the Italian airport exercised the right of pre-emption and this move had two effects: the board of directors lapsed and the recapitalization of the company was not voted on. This is the outcome of the board meeting held in the last few days.

A setback for the relaunch plan strongly supported by the president of Genoa Airport, Alfonso Lavarello, and the general director, Francesco D'Amico. The two managers aimed to bring MSC into the capital, through the purchase by the latter of a 15% stake which the Aeroporti di Roma (AdR) company is selling. Furthermore, to cover the 2023 budget hole (-3.5 million euros) they proposed a recapitalization of 4.8 million.

The operation had received the blessing of the municipality of the Ligurian city and the board of Genoa Airport. However, the local Chamber of Commerce blocked the MSC-AdR operation. While the main shareholder, the Western Ligurian Sea Port System Authority (which holds 60% of the port), did not vote in favor of the capital increase. And so Lavarello and the members of the board of directors, Giovanni Cavallaro and Barbara Pozzolo, resigned. We'll talk about it again on September 10th.

On the same topic, see also the article published by AVIONEWS.