Home » ok to the business plan with the Germans. Agreement expected immediately after Pasqua-breaking latest news

ok to the business plan with the Germans. Agreement expected immediately after Pasqua-breaking latest news

by admin
ok to the business plan with the Germans.  Agreement expected immediately after Pasqua-breaking latest news

The Tesoro-Lufthansa agreement on the future of Ita Airways could be signed between 19 and 21 April. This is the window of time that Palazzo Chigi looks to to close one of the most complicated and certainly not without twists and turns. That’s what he learns Courier from government sources in particular after two passages that are certainly not irrelevant. The first: theapproval of the 2023-2027 business plan by the board of directors of the tricolor carrier. The second one: the conversation in Rome between the Economy Minister Giancarlo Giorgetti, the president of Ita Antonino Turicchi and the number one of the Lufthansa group Carsten Spohr which aims to enter with 40% to rise to 100% at a later time.

«Positive interview»

The note of a few lines from the MEF talks about «positive interview» (which took place shortly after 2 pm) between Giorgetti, Turicchi and Spohr in which «the plan that will determine the development of Ita in terms of fleet, network and strategic objectives was illustrated». “Further progress is made in the direction of the industrial partnership between the two carriers”, it still reads. According to what has been learned, not only the monetary aspect was discussed – that is, how much Lufthansa will have to inject into Ita’s capital to get to hold 40% -, but also the evolution of the Italian carrier from now to the next five years.

The last technical steps

The negotiation, the sources continue, does not now present major obstacles also thanks to the fact that the dossier was constantly managed by Minister Giorgetti: Palazzo Chigi, via XX Settembre and Lufthansa approve Ita’s business plan which takes into account the presence of an industrial partner. In short, we are at the last filings, barring hitches. Immediately after thesigningthus expected before April 24 (when the exclusivity negotiation period expires) the ITA dossier will be sent to the regulatory authorities – such as the EU Antitrust – for the final green light expected at the end of July-beginning of August. Mouths sewn for now on the plan that should be officially presented on the day of signing the preliminary.

See also  Training that extends your life
The evaluation

Spohr’s arrival in Rome had been anticipated al Courier of the same head of the European giant of the skies: it was also indicated in the chat the last (big) knot to solve related to the price. The plan of the Germans is to enter through a reserved capital increase. The estimated value, in December, for the 40% German share was 200-250 million euros. But, Spohr specified, «in 2022 Ita has lost a lot of money (-486 million euros, ndr) and this must also be reflected in the assessment of the Italian carrier». Lufthansa and the government, the sources continue, will thus have to find an “equilibrium price” that does not appear too high or too low depending on one’s point of view. But one thing is certain: in Rome they know that the more time passes, the more Ita loses value — a year ago it was worth 950 million — and that we need to close early so as not to end up with a company that is worth zero or, worse, needs more public money to survive.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy