The Regional Council of Sardinia has approved the "Term Sheet," which contains the main financial and contractual terms agreed upon by the Region, the Cagliari-Oristano Chamber of Commerce, F2i Ligantia SpA, and the Fondazione di Sardegna. These terms will govern any potential regional participation in the merger between the companies managing the airports of Cagliari, Olbia, and Alghero.
The integration project, the Region specifies, "aims to create a coordination holding company that will allow the airports to operate as a single integrated system." The stated objective is to "strengthen the airport system, increase routes, attract investment, and support tourism development and mobility on the island."
The project also represents the basis for obtaining recognition as a ministerial airport network.
The process involves the preparation of an integrated business plan for the three airports and the subsequent submission of an application to the Ministry of Infrastructure and Transport for the official designation of Sardinia's airport network. Once the ministerial decree is obtained, the airport system will be able to operate in a coordinated manner in planning tariffs, investments, and air traffic development for the protection and safety of Sardinian passengers.
The Region – as explained in a statement – has already requested a specialized study of the sector's subsidiaries. Completed in December 2025, it assessed the economic, financial, and legal aspects of the transaction, taking into account current legislation, financial sustainability, and compatibility with the principles of efficiency and cost-effectiveness of administrative action. Based on the results of this analysis, the Region, the Cagliari-Oristano Chamber of Commerce, F2i Ligantia SpA, and the Fondazione di Sardegna have agreed on the contents of the Term Sheet, which is not binding on the parties.
The document also includes specific conditions for strategic decisions requiring the consent of the public shareholders, including changes to the corporate structure, extraordinary transactions, and amendments to the bylaws. Furthermore, it contains important provisions to protect the local area: it will not be possible to close one of Sardinia's airports without the favorable vote of the public shareholders, and the decision to relocate the holding company's headquarters outside of Sardinia cannot be made without the consent of the Region and the other institutional shareholders.
The goal is to sign binding agreements by September 30.
(Unioneonline)
