The airline is currently under the radar of German Aviation giant Lufthansa GROUP and the Geneva-based global container shipping company MSC.
"Cabinet ministers were presented with a decree to start the process of looking for a partner for ITA", Finance Minister Daniele Franco told reporters during a press conference.
He said there was no timing yet, and it could be through "public offer or direct sale", but "the government will maintain a minority share, not a controlling share of ITA, that could be sold at a later stage".
Last month, Lufthansa Group and MSC expressed their interests in acquiring a majority stake. The Italian government has determined to open up the bid to all potential bidders, despite a request by MSC and Lufthansa for a 90-day period of exclusivity in the negotiations.
ITA began its operations in October 2021 valued at between 1.2 billion and 1.4 billion euros.
