'Anyone can run ITA better than Rome' says O'Leary

(ANSA) - ROME, MAY 31 - German carrier Lufthansa's entry into ITA Airways is "part of an inevitable consolidation process" and "anyone could manage ITA better than Italian governments", Ryanair CEI Michael O'Leary said on Wednesday.
    Italian governments have "for years proven to be extraordinarily incompetent," the Irish businessman told reporters in Brussels.
    Last Friday Lufthansa CEO Carsten Spohr announced an agreement with the Italian economy ministry to buy a 41% stake in ITA Airways worth 325 million euros.
    The acquisition will take the form of a capital increase into the company which replaced loss-making former flag-carrier Alitalia in 2021, with the State taking full ownership.
    Spohr said the transaction would be completed by the end of this year.
    "The future CEO of ITA Airways and one member of the board (out of five in total) will be nominated by Lufthansa," he told conference call with analysts.
    Spohr added that ITA had "no relations or problems linked to the old Alitalia" as it has been "completely restructured and configured to be a competitive airline from a cost point of view".
    Lufthansa also said Thursday that it will have an option to buy all the rest of ITA's shares at a later date and that the Italian government has committed to a capital increase of 250 million euros into ITA as part of the agreement. (ANSA).