Ferrari chairman not leaving for Alitalia image

Recently, press speculation has arisen that once Italy’s Alitalia airline gets bailed by Gulf-based Etihad Airways, the new chairman would become Ferrari’s Luca Cordero di Montezemolo.

Now the Italian supercar brand’s chairman has moved to dismiss the reports as mere speculations, talking to journalists on the sidelines of an event yesterday.

“For me there is only Ferrari, to which I am very committed, so this is something that does not exist,” said Montezemolo.

Previously, some Italian newspaper counted the Ferrari chairman among the top candidates to assume the position of chairman at the Alitalia airline. Just last week, the ailing carrier moved to accept an acquisition offer from Etihad, adding the proceedings would be expedited to ensure a swift tie-up.

Ferrari on the other hand sits well at the top of the ultra-luxury sports car segment, together with Maserati (which is counted as its subsidiary) providing a big return to their parent company – Fiat SpA, which is now completing its merger with US based Chrysler Group to form Fiat Chrysler Automobiles NV. In order to maximize profits and hold on to its status, the prancing horse automaker even capped its total annual production – saying it would increase exclusivity this way.

Via Reuters