ROME — Italy’s Treasury entered exclusive talks Thursday with a consortium of Delta Air Lines, Air France-KLM, and Certares to sell a majority stake in state-owned ITA Airways.
The bid from U.S. private equity firm Certares beat a rival proposal by Lufthansa and MSC. Reports value the 51% stake at roughly 335 million euros ($335 million), with the Italian government retaining 49% ownership and two board seats.
Prime Minister Mario Draghi’s caretaker government is pushing to privatize the Alitalia successor ahead of late September elections, drawing criticism from political opponents who say the sale should wait for the next administration. ITA Airways launched in 2021 after Alitalia collapsed under decades of losses.
ITA air talks underway
