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Italy Asks Bidders To Recast Proposals For ITA Airways

By Dave Simpson

Italy has asked bidders willing to take over ITA Airways to come up with improved proposals, the economy minister said on Thursday 4 August, because the government does not deem the current bids to be sufficient.

Details

Neither of the two rival bids currently fully met the government's goals for the privatisation of the company, Economy Minister Daniele Franco told a news conference.

Shipping group MSC and Germany's Lufthansa are facing a rival bid made by a consortium comprising US. private equity fund Certares, Air France-KLM and Delta Air Lines Inc.

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Lufthansa chief executive Carsten Spohr said earlier on Thursday 4 August that the German airline was the best partner for ITA but warned that the company's patience in this instance was not endless.

Statement By Prime Minister

Prime Minister Mario Draghi, who will remain in a caretaker position until a new government is formed after next month's election, told reporters he wants his administration to complete the sale procedure.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
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Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
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