AEROMEDIA
The Italian Aerospace Information Web
by Aeromedia - corso Giambone 46/18 - 10135 Torino (Italy)

The SEA-SAGAT integration hypothesis leaves one perplexed

On August 12, 2026, the ANSA news agency and major newspapers reported that SEA (Società Esercizi Aeroportuali), the operator of Milan/Linate and Malpensa Airports, is evaluating an integration with SAGAT (Società Anonima Gestione Aeroporto Torino), which manages Turin/Caselle Airport. SEA is controlled by the Municipality of Milan, the majority shareholder with 54.8%, and F2i, which holds a 45% stake through its financial company 2i Aeroporti. In turn, 2i Aeroporti owns 100% of SAGAT.
From 1953 the "Città di Torino" airport was managed by the Transport Department of the City of Turin until March 6, 1956, when SAGAT (Società Azionaria Gestione Aeroporto Torino) was established. Unfortunately, in 2012, Aeromedia reported the Fassino municipal administration's controversial decision to sell the remaining 28% stake in SAGAT. The shares were ultimately purchased by the private investment fund F2i (Italian Infrastructure Fund. managed by Vito Gamberale) for approximately €35 million, despite an independent valuation of at least €58.8 million.
The two airport management companies have not issued press releases regarding the pending transaction. The exact size of the planned merger is not specified. A similar merger between SEA and SABCO, the company that manages Orio al Serio Airport and in which SEA holds approximately 30%, has not recently been finalized.
Anyone familiar with the history of commercial air transport in Italy can only be very cautious when considering an agreement between SEA and SAGAT. Since the early 1950s, the two Milan's airports have been relentlessly working to drain the traffic catchment areas of other airports in the north of the country, particularly Caselle. For decades, partly with the obvious complicity of Alitalia, domestic and international passenger and cargo traffic was primarily developed at Linate and Malpensa, leaving the other airports with little. (Aeromedia)

In the picture: The sometimes deserted terminal at Turin/Caselle Airport. (Aeromedia)

(Aeromedia, August 2026)