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The president of Ita Alfredo Altavilla resigned

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The president of Ita Alfredo Altavilla resigned

The president of Ita Airways Alfredo Altavilla communicated his “conditional” resignation to the Ministry of Economy and Finance on the eve of the ordinary meeting of Ita Airways, which has on the agenda the examination of his position for his removal .
The letter is accompanied by the request for indemnity, with the waiver by the Mef of any liability action, and the request for compensation. The Mef, which had been kept in the dark about Altavilla’s initiative, was evaluating the feasibility of the requests in the evening.

The independent director Vyvyen Frances Ouseley also submitted her resignation, as did the six directors representing the Mef (Lelio Fornabaio, Alessandra Fratini, Simonetta Giordani, Cristina Girelli, Silvio Martuccelli and Angelo Piazza) who last week formalized the request to be replaced. , with a letter to the ministry. Only the CEO Lazzerini remains in the saddle on the Board of Directors. But there is the option for the entire board to be cleared.

Therefore, on Tuesday morning at the shareholders’ meeting (in second call on Friday 11), the clash that broke out in the Ita board that led the Board of Directors to a majority – on the initiative of the six directors of the Mef – to vote for the transfer of proxies operational in the hands of the former president, in the hands of CEO Fabio Lazzerini. The six councilors accused Altavilla in managing the negotiation with the consortium led by Certares of having hindered the conclusion. But at the end of the exclusive negotiation with Certares (which leads the consortium in a commercial alliance with Air France-KLM and Delta), on October 31 the Economy Minister, Giancarlo Giorgetti, decided not to grant the extension.

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Already after the decision on the winning consortium of the previous government on August 31, Minister Giorgetti had highlighted – as an element of weakness in Certares’ offer – the lack of an industrial partner with specific skills in the aviation sector. So MSC-Lufthansa returned to the game, which last summer presented an offer for the purchase of 80% of the company, to which, however, the previous Government preferred the offer of Certares which proposed to buy 50% more a share of Ita Airways. The Indigo Partners fund is also at stake, which last March expressed interest.

These two competitors, as well as the consortium led by Certares, will be able to refine the offer to better respond to the requests contained in the privatization decree of last March. But the ordinary meeting, in addition to dealing with the resignation of the board, also has on its agenda the disbursement of 400 million necessary for the survival of the company, resources that have already been given the green light by the European Commission which has authorized in total 1,350 million (what will be disbursed is the second tranche, the first was 700 million).

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