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Italy to name former Treasury official to head ITA Airways, sources say

Reuters · 11/15/2022 15:13
Italy to former Treasury official to head ITA Airways, sources say

- The Italian government will appoint former Treasury official Antonino Turicchi as chairman of ITA Airways, two sources close to the matter said.

Turicchi, who also sat on the board of state-controlled bank Monte dei Paschi di Siena BMPS.MI, 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 U.S. private equity fund Certares, backed by Air France-KLM AIRF.PA and Delta Air Lines Inc DAL.N, for exclusive talks on buying a majority stake in the carrier.

The exclusivity period ended last month but talks over a potential sale agreement are continuing.

The economy ministry is expected to appoint Turicchi at an ITA Airways shareholders' meeting on Wednesday, the sources said.

Turicchi had recently been indicated by political sources as a potential candidate to replace Alessandro Rivera as director-general of the Treasury.

(Reporting by Giuseppe Fonte; Editing by Nick Zieminski)

((giuseppe.fonte@thomsonreuters.com; +390680307711;))