Aviation
Commercial /
Europe
Privatization
Air France-KLM and Delta Airlines in negotiation to acquire ITA Airways
Airbus A320
ITA Airways
CC BY-S.A 4.0, via wikimedia commons
Rafael Ramos
8/31/2022
The Italian government announced today (31) that the consortium formed by Air France-KLM, Cetares and Delta Airlines is the favorite for the purchase of Italian state-owned ITA Airways. Previously, the consortium formed by Lufthansa and the maritime operator MSC was the favorite for the acquisition, as it offered up to 1.4 billion euros for the ITA.
"After exclusive negotiations, a binding agreement will only be signed if the result is fully satisfactory for the public shareholder," declared the Italian Ministry of Finance.
ITA was valued at around €950 million, with Certares' offer being €600 million for a 55% stake. The amount will still be divided, so that 40.1% will go to the Cetares group, 9.9% to Air France-KLM and 5% to Delta. The remaining 45% will continue to belong to the Italian government.
The deal still has the advantage of ITA Airways being a member of the Skyteam alliance and the previous relationship between the former Alitalia and Air France-KLM Delta.
The Lufthansa and MSC Offer did not provide for government participation: "We have taken note of the Italian government's decision. Our joint offer with MSC was the best solution for ITA, from our point of view. Apparently, a path is now being chosen which allows greater influence of the State and does not foresee a complete privatization of the ITA”, reads in a Lufthansa note.
Ita Airways started in October last year as a solution to the problems of its predecessor Alitalia. The new company also took over 50 Alitalia planes and a new order for 28 Airbus A220, A320neo and A330neo jets.
Gary Loparter/Unsplash
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Rafael Ramos
Aviation enthusiast from an early age, he had his first contacts with the area developing that good old habit of spending dozens of hours in front of the screens of Micrsoft Flight Simulator and other simulators. With a solid background in various technological areas, including engineering and chemistry, Rafael has rejoined aviation as editor and author of articles and materials on our portal, providing invaluable help to the dynamics and expansion of the website and the aeronautical community, bringing us the news and updates so indispensable for us to remain current in our area of operation.
   
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