No deal reached for Certares/ITA Airways as deadline passes


Italy’s Economy Ministry said on Monday it would not renew an exclusivity period for talks with U.S. private equity fund Certares, Air France-KLM and Delta for the sale of ITA Airways, the nationalised successor airline to Alitalia.

“Exclusivity obligations granted on Aug. 31 ... end today,” the ministry said in a statement, adding that contacts would continue over “a possible sale agreement” with the potential buyers.

Cheap flights with cashback


The consortium beat a rival bid presented by shipping group MSC and Germany’s Lufthansa for the chance to buy control of Alitalia’s successor.

Certares has been discussing taking a majority stake, while Air France-KLM and Delta would initially be only commercial and operational partners.

The deal has been complicated by a national election in Italy that resulted in the formation of a new right-wing government that was sworn into office earlier in October.

Save on your hotel - hotelscombined.com


The board of ITA Airways this month also stripped Executive Chairman Alfredo Altavilla of his powers, giving Chief Executive Fabio Lazzerini the task of negotiating the sale. read more


Source: Reuters

Post a Comment

Previous Post Next Post