The privatisation of ADR, which runs Rome's Fiumicino and Ciampino airports, has been delayed for several months pending a court battle between potential buyers - led by the operators of the rival Milan airport system - and the Italian Government over the size of stake to be made available to investors.
The 54.2% stake in ADR controlled by state holding company IRI was to be sold as a soon as possible, but the move has been put on hold while actions spearheaded by SEA, the alliance of local authorities that runs Milan's airports, are resolved.
SEA is attempting to overturn a 2% limit on the ownership of shares by individual private investors to launch a bid for a much larger stake.
A test case before the Lazio regional administrative tribunal (TAR), which covers Rome, recently rejected the SEA case, but the Milanese operator has appealed and the case will go before the State Council. SEA, together with Amsterdam Schiphol, is also planning a complaint to the European Commission.
Meanwhile, Lazio TAR has agreed that Fiumicino town should be included on a roster of local authorities entitled to bid for a stake of up to 3% in ADR.
Source: Flight International