# Italy names former Treasury official to head ITA Airways
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-11-16
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: ITA Airways appoints Antonino Turicchi as Chairman amid
Meta Description: Italian economy ministry announces Antonino Turicchi as new chairman of state-owned airline ITA Airways, signalling strategic changes amidst ongoing
URL: https://financedigest.com/italy-names-former-treasury-official-to-head-ita-airwayshtml

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ROME (Reuters) -The Italian economy ministry on Wednesday said 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](https://www.financedigest.com/man-group-picks-all-female-top-team-as-ceo-ellis-retires.html "Man Group picks all-female top team as CEO Ellis retires") led by U.S. private equity fund Certares, backed by Air France-KLM and Delta Air Lines Inc, for exclusive talks on buying a [majority stake](https://www.financedigest.com/deutsche-telekom-reaches-majority-stake-in-t-mobile-u-s-ceo.html "Deutsche Telekom reaches majority stake in T-Mobile U.S. – CEO") in the carrier.

The consortium beat a rival [bid presented by shipping group MSC and Germany’s](https://www.financedigest.com/germany-to-lower-sales-tax-on-gas-to-7-in-bid-to-relieve-consumers.html "Germany to lower sales tax on gas to 7% in bid to relieve consumers") Lufthansa.

The exclusivity period [ended last month but talks over a potential sale](https://www.financedigest.com/eu-approves-law-to-end-sales-of-new-co2-emitting-cars-by-2035.html "EU approves law to end sales of new CO2-emitting cars by 2035") agreement are continuing.

It [remains to be seen whether MSC and Lufthansa](https://www.financedigest.com/kuehne-raises-lufthansa-stake-to-17-5-as-germany-sells-remaining-shares.html "Kuehne raises Lufthansa stake to 17.5% as Germany sells remaining shares") will formalise a new offer.

Confirming a Reuters report on Tuesday, the Treasury said in a statement it would appoint Turicchi at an [ITA Airways](https://www.financedigest.com/ita-airways-averts-strike-after-wage-increase-accord-with-unions.html "ITA Airways averts strike after wage increase accord with unions") shareholders’ meeting on Wednesday.

Turicchi had recently been indicated by political [sources as a potential candidate](https://www.financedigest.com/oranges-board-selects-three-candidates-for-new-ceo-sources.html "Orange’s board selects three candidates for new CEO – sources") to replace Alessandro Rivera as director-general of the Treasury.

(Reporting by Giuseppe Fonte; Editing by Nick Zieminski, Kirsten Donovan)


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