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.
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.