Delta and Air France-KLM won their joint bid for ITA Airways, entering exclusive talks with the Italian government over plans to privatize the carrier formerly known as Alitalia
ITA Airways launched operations in October last year with less than half of Alitalia’s fleet as it focused on profitable routes. Alitalia, which in its heyday flew Hollywood movie stars and more recently was the official airline of the pope, had been losing money since 2008. By 2017, the airline had lost access to credit markets, and the Italian government stepped in with loans worth hundreds of millions of euros, placing Alitalia into.
The consortium’s bid is being led by Certares, which has offered to take an equity stake in the revived Italian national carrier. Delta and Air France-KLM have backed the bid, offering to expand their operational and commercial ties with ITA, representatives for the two airlines said. “Delta looks forward to forging even closer commercial ties with ITA Airways,” a spokesman said. Air France-KLM said that it doesn’t plan to make any financial investment in ITA, but that it could revisit becoming a minority stakeholder in the “medium term.” The Franco-Dutch carrier said it would build on its code-share agreements and leverage the Italian airline’s membership of the SkyTeam alliance, of which Delta and Air France-KLM are leading members.
Air France-KLM and Delta operate a joint venture and revenue-sharing partnership across the North Atlantic in combination with the smaller Virgin Atlantic Airways Ltd., in which Delta holds a 49% stake. The joint venture competes with similar tie-ups between
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Italy picks Certares-led bid for exclusive ITA Airways talksItaly has picked a group led by U.S. private equity fund Certares, backed by Air France-KLM and Delta Air Lines Inc , for exclusive talks on buying a majority stake in ITA Airways, the Treasury said on Wednesday.
Read more »
Adam Driver kicks off the Venice Film Festival and more star snapsStars are arriving in Italy for the famed film festival and more...
Read more »
7-year-old girl killed by 400-pound stone statue at hotel while on European vacationA girl who was on vacation from Italy with her parents has died after a stone statue fell on her at a hotel in Munich, German police said Sunday.
Read more »
J Lo Enjoys Her Second Honeymoon in a Plunging Crochet DressJennifer Lopez wore Jonathan Simkhai's cream crochet Zariah maxi dress for her honeymoon in Lake Como, Italy, with Ben Affleck. Shop the look here.
Read more »
Perspective | No, Lorde will not grow a third eye because she swam in the PotomacThe water in Lake Como, Italy and Lake Geneva, Switzerland and even Lake of the Ozarks was in the same range as the Potomac River last week, according to Potomac Riverkeeper data.
Read more »
'White Noise' starring Adam Driver opens 79th Venice Film FestivalThe annual film festival in Venice, Italy, runs from August 31 to September 10, 2022, and is filled with star-studded films directed primarily by Hollywood luminaries vying for the Golden Lion award.
Read more »