The Italian Treasury said on Wednesday that it has chosen to enter into exclusive talks regarding the sale of Ita Airways, with a consortium made up of US investment fund Certares, Delta Airlines and Air France-KLM.
The government chose this consortium over a bid from Italian cruise operator MSC and Lufthansa, saying the proposal "better matched the objectives set.”
"At the end of the exclusive negotiation, binding agreements will be signed only in the presence of contents that are totally satisfactory for the public stakeholder," the Treasury added.
ITA replaced loss-making former flag-carrier Alitalia last year.
The State is set to maintain a minority stake in the airline.
