The Transport Finance Law Review 2015 - Italy Chapter

ITALY

Introduction Legislative Framework Financial Regulation Security and Enforcement Current Developments According to recent official statistics from the Italian Ministry for Infrastructure and Transport (2012-13), gross fixed investment in the Italian transport sector represented 8.3 to 9.9 per cent of the total economy between 2000 and 2013.

A globalised sector such as air transport will be influenced by the general European trend of the gradual decline of the national flag carrier (in Italy, this would be Alitalia), entailing that fewer and fewer public funds are invested and more private capital enters the sector. Moreover, traditional carriers are losing ground to foreign low-cost carriers and also face increased competition from high-speed trains on some critical national routes. This has triggered important developments in terms of industrial infrastructure and capital.

With respect to shipping, Italy is traditionally known for its family shipping businesses, few listed companies and analysts, and a very traditional approach to financing. Shipping represents a major branch of Italy's maritime economy, which in...