DALLAS – Major airlines have expressed interest in purchasing a chunk of ITA Airways (AZ), Italy’s new flagship airline and Alitalia heir.
ITA Airways is currently owned by the Italian government. The new carrier began operations five months ago on the remains of bankrupt Alitalia.
The Bidders
The Lufthansa Group voiced interest in purchasing a share in the airline in January of this year. The firm has teamed up with the shipping powerhouse MSC (Mediterranean Shipping Company) to file an “Express of Interest” document (EOI).
Since the LH filing, the Italian publication La Repubblica has reported that Delta Air Lines (DL) and Air France-KLM, along with an undisclosed entity, have also expressed interest in acquiring a majority stake in AZ, with all three having submitted an EOI to the Italian Ministry of Finance.
A fourth EOI, according to the Italian news outlet, was issued by a fund that holds assets in various low-cost airlines. It could be Indigo Partners, a company based in the US that is already involved with Wizz Air (W6).
A representative for DL acknowledged that the US-based airline is in constant contact with AZ management, but declined to comment on reports that DL and Air France-KLM are interested in buying a stake in the Italian carrier.
Echos from the Past
In many ways, the situation with ITA Airways resembles the bidding battle that erupted over Alitalia.
Air France-KLM and low-cost airline easyJet (U2) submitted a combined bid to take over the now-defunct airline in January 2018. An acquisition offer from LH and private financing firm Cerberus Capital Management clashed with the offer.
In the end, Alitalia was never sold, mainly because of the arrival of the COVID-19 pandemic, which caused potential buyers to lose interest.
Featured image: ITA Airways. Photo:…