The board of Italian state-owned ITA Airways has stripped its chairman of his powers in a battle over negotiations for the sale of the airline.
A statement from the airline on Thursday evening (October 20) said: “The board of directors of ITA Airways, held today, fully confirmed the revocation of all the powers of the executive president Alfredo Altavilla, which was already ordered by a resolution on October 12, and the attribution of those powers to the chief executive officer Fabio Maria Lazzerini.”
Last month, an investor group including Air France-KLM and US partner Delta Air Lines emerged as the favoured suitor to acquire ITA Airways.
The consortium, led by US investment fund Certares, was chosen for exclusive talks over a rival bid from a team that included Lufthansa and shipping giant MSC Group.
Bloomberg said Altavilla was appointed in June 2021 “with a mandate to find a partner for the airline by the end of this year” and “reportedly favoured” the MSC/Lufthansa deal.
The short statement from the airline added: “The board of directors reiterated that the company’s main task is to remain focused on the industrial plan, continuing along the road taken that is providing better results than expected, with the aim of consolidating the relaunch of ITA Airways and protecting the company’s workers who have taken the challenge.”
Italy’s new national carrier ITA Airways replaced bankrupt Alitalia in October 2021. It quickly joined the SkyTeam airline alliance, which includes Air France, KLM and Delta Air Lines.
More: Air France-KLM and Delta consortium favoured to acquire ITA