is the new phase in the negotiations for the sale – Corriere.it
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The negotiation for the privatization of Ita Airways (re)enters the heart. A delegation from Lufthansa will land in Rome for two days of technical and “political” meetings at the beginning of the week which will serve to set up – if all goes smoothly – the Road map which will have to lead to a first draft of an agreement between the Ministry of the Economy and the pan-European giant of the skies. The learns it Corriere della Sera from government sources.
The knots
Between Monday 28 November and Tuesday 29 November various “expert sessions” are scheduled between the executives of Lufthansa and those of Ita. The Germans – continue the government sources – in the technical meetings with the tricolor carrier will try to get more information on some aspects under observation since November 16, the day they entered the data room, the (virtual) room with all the most sensitive documents of the vector.
The three themes
The meetings will aim, according to what has been learned, on three major themes. The first: the airline’s finances which have deteriorated and which have led the value of Ita to fall to 450-500 million euros, as told exclusively by the Courier a few days ago. The second theme is the network (i.e. the network of connections) for 2023 to understand also from a commercial point of view how Ita is orienting itself in the European and intercontinental market.
The case of human resources
However, the government sources underline that one of the most delicate meetings should be the one relating to “human resources”, on the one hand to understand the impact of the various labor lawsuits of former Alitalia employees who were not hired by Ita, on the other to assess the consequences of the legal disputes initiated by some executives dismissed in recent weeks and which in the event of defeat in court could expose the airline to millionaire compensation.
The political front
A “political” meeting between Lufthansa and representatives of the Italian government is also expected over the two days, just as a face-to-face meeting with state railway emissaries is conceivable: as revealed by the Courier the executive reasons on the possible creation of an Italian-German consortium Lufthansa-FS to take over the majority of Ita Airways. Government sources underline that it is still too early to say whether this alliance will be born but it is certainly on the table at Palazzo Chigi. The objective of the Treasury, Ita’s sole shareholder, remains that of identifying the best partner or consortium for the Italian company, who is able to guarantee a future for the company and at the same time enhance the country’s assets, starting from hubs in Rome Fiumicino, Milan Linate and Malpensa.
The stop of Atlantia
As for Atlantia, corporate sources explain al Courier that if on the one hand the optimal relations between the company they control (Aeroporti di Roma) and Lufthansa would be a good basis for creating possible industrial synergies, on the other hand the exit of Autostrade per l’Italia from the perimeter of Atlantia and the takeover bid push the top management to invest in shares that allow to raise the Ebitda: Ita, at this moment, is seen as a reality that would lower the gross operating margin.
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