The offer of Certares, with Delta and Air France – KLM, allows a more significant presence of the Mef
Communication is essential, as befits circumstances like these. But the
government decision on Ita it has a number of significant implications and consequences. First of all, the timing and methods of the procedure. “An exclusive negotiation with the consortium formed by Certares Management, Delta Airlines and Air France-Klm“. Then the reasons.” The consortium’s offer was deemed more in line with the objectives set by the Dpcm “. Then, the perspective.” At the conclusion of the exclusive negotiation, binding agreements will be signed only in the presence of full contents satisfactory for the public shareholder “.
Reference is made to the objectives of privatization and to the role of the state. The Dpcm provides “that, in the choice of the modalities with which to realize the opening of the capital of Ita, the stability of the ownership structure, the industrial dimension of the integration, the enhancement of the national hubs must be ensured. , development on strategic and long-range markets and employment prospects “. Consequently, it is expected that the Ministry of Economy and Finance “will maintain a minority stake in order to ensure the pursuit of the aforementioned objectives and that, for this purpose, the participation of the Ministry of Economy and Finance is accompanied by the appropriate governance agreements “. Evidently, on a technical level, the evaluation of the two offers led to the belief that the one promoted by Certares with Delta and Air France – KLM is the best option to achieve these objectives.
The technical decision, however, is intertwined with the electoral campaign and becomes a political decision too. The leader of the Brothers of Italy Giorgia Meloni, who, according to the polls, has a good chance of being the new prime minister too, expressed himself harshly when Prime Minister Mario Draghi made it clear that he wanted to complete the operation. “I hope that President Draghi denies the hypothesis of an acceleration of the process of selling Ita to Lufthansa. It is a topic that is being talked about a lot in the media and that literally makes us jump since the government has resigned and can take care of it. only current affairs. This would not be at all. We would all be much more serene if President Draghi denied him. From 25 September onwards, everything will be able to change and at the relaunch of our national airline, who will govern “.
Draghi’s denial never came. Meloni assumed that the preferred offer was that of Lufthansa and MSC and instead the decision formalized by the Mef goes in another direction. The choice of the consortium formed by Certares Management, Delta Airlines and Air France-KLM is profoundly different. Because it presupposes leaving Ita within the international alliance inherited from Alitalia, SkyTeam, and above all because it obviously allows a more significant presence of the State, through the Treasury. And so he leaves it to politics, and the next government, to have a say in the future of the company.
This is also the interpretation that Lufthansa hastens to point out. “From our point of view, our joint offer with MSC was and continues to be the best solution for Ita. We take note of the Italian government’s decision to take a path that allows for greater State influence and does not provide for a complete privatization of Ita. “. The doubt that remains is about the real industrial consistency of the two proposals that faced each other. To lift it is Stefano De Carlo, executive secretary of the Anpac: “The MEF’s decision is surprising because industrially the most solid offer for the future seemed to be that of MSC and Lufthansa. We will see how Palazzo Chigi will behave. In order to have a future, Ita needs a solid industrial partner. The alliance with Air France – Klm so far has not brought great advantages but only disadvantages “. The suspicion of the representative of pilots and flight attendants is that the financial aspects have been privileged over the industrial ones.
In any case, a decision had to be made. “I have no elements to assess whether the Lufthansa offer was better than this one. I am sure that the Government has chosen for the best. But the important thing is to finally proceed with the sale of an airline that has cost citizens a disproportionate amount. Good. ! Finally, “he comments Carlo Calenda on twitter. (from Fabio Insenga)