Italy appoints former Treasury official Antonino Turicchi as Chairman of ITA Airways – ET TravelWorld

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The Italian economy ministry said that it would appoint former Treasury official Antonino Turicchi as Chairman of state-owned carrier ITA Airways, the successor to Alitalia.Turicchi, who also sat on the board of state-controlled bank Monte dei Paschi di Siena, is currently the CEO of FINTECNA, a financial holding company controlled by state lender Cassa Depositi e Prestiti (CDP).

At ITA Airways, he will take the place of Alfredo Altavilla, who resigned earlier this month after a clash with several board members over strategy to complete the privatisation of the airline.

In August, the Treasury picked a group led by US private equity fund Certares, backed by Air France-KLM and Delta Air Lines Inc, for exclusive talks on buying a majority stake in the carrier.

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Italia Trasporto Aereo SpA, trading as ITA Airways, is the state-owned flag carrier airline of Italy. Its predecessor, Alitalia used to fly regularly on the route pre-pandemic and now ITA is all set to begin three-weekly, non-stop flights between both the capital city from December 4. Notably, Fabio Bigotti has been appointed as the new Country Manager for the Indian market.

The consortium beat a rival bid presented by shipping group MSC and Germany’s Lufthansa. The exclusivity period ended last month but talks over a potential sale agreement are continuing. It remains to be seen whether MSC and Lufthansa will formalise a new offer.

The Treasury said in a statement it would appoint Turicchi at an ITA Airways shareholders’ meeting on November 16. Turicchi had recently been indicated by political sources as a potential candidate to replace Alessandro Rivera as director-general of the Treasury.

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