Italy picks Certares-led bid for exclusive ITA Airways talks

Italy picks Certares-led bid for exclusive ITA Airways talks

MILAN, Aug 31 (Reuters) - Italy's government has picked a bid by U.S. private equity fund Certares and backed by Air France-KLM and Delta Air Lines Inc to start exclusive talks over the sale of a majority stake in ITA Airways, the Treasury said on Wednesday. The government had aimed to complete the part-privatisation of the successor to Alitalia over the summer, but then asked the two rival consortia to review their initial offers as it deemed they did not meet its goals. The offer, whose details were not publicly disclosed, would leave the Treasury with "at least" a 40%…
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Italy aims to pick preferred bidder for ITA Airways this month

Italy aims to pick preferred bidder for ITA Airways this month

Italy's outgoing government is pressing ahead with plans to sell a majority stake in ITA Airways and hopes to choose its preferred bidder by the end of the month, three sources with knowledge of the matter told Reuters. The government had aimed to complete the part-privatisation of the successor to Alitalia over the summer, but asked the two rival consortia to review their initial offers as it deemed they did not meet its goals. They have until midnight (2200 GMT) on Monday to do so. Shipping group MSC and Germany's Lufthansa  are facing a rival bid led by U.S. private…
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Italy asks bidders to recast proposals for Ita Airways

Italy asks bidders to recast proposals for Ita Airways

ROME, (Reuters) - Italy has asked bidders willing to take over Ita Airways to come up with improved proposals, the economy minister said, because the government does not deem the current bids to be sufficient. Neither of the two rival bids currently fully met the government's goals for the privatisation of the company, Economy Minister Daniele Franco told a news conference. Shipping group MSC and Germany's Lufthansa  are facing a rival bid made by a consortium comprising U.S. private equity fund Certares, Air France-KLM  and Delta Air Lines Inc . Lufthansa Chief Executive Carsten Spohr said earlier on Thursday that the German airline was the best…
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Italy’s right-wing frontrunner asks Draghi to freeze Ita Airways sale

Italy’s right-wing frontrunner asks Draghi to freeze Ita Airways sale

The Brothers of Italy party, leading polls ahead of next month's election, has asked outgoing Prime Minister Mario Draghi to freeze the sale of a majority stake in state-owned airline Ita Airways. Draghi resigned on July 21 and his key ministers have been debating whether the sale process can go ahead with a government acting in a caretaker capacity ahead of a snap national election scheduled on Sept. 25, sources told Reuters. "Everything can change following the vote and the relaunch of our national airline will be the responsibility of whoever governs," far-right Brothers of Italy party leader Giorgia Meloni…
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ITA Airways  pilots ‘fell asleep’ while flying plane

ITA Airways  pilots ‘fell asleep’ while flying plane

A captain of Italy’s flagship state airline has been sacked after he allegedly fell asleep at the controls, leaving traffic controllers unable to communicate with the plane for 10 minutes. According to the Italian daily Repubblica, both pilots of the ITA Airways AZ609 passenger flight from New York to Rome on April 30 had dozed off at the controls of the Airbus 330. The co-pilot was napping for a “controlled rest” as procedure allows, according to the report, but the captain is supposed to be awake and reachable. The communications blackout lasted for just over 10 minutes while the plane…
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Italy sets course for ITA Airways sale by end of next month

Italy sets course for ITA Airways sale by end of next month

Italy’s government aims to sell state-owned ITA Airways, the successor to Alitalia, by the end of June after setting a deadline for binding offers of May 23, Economy Minister Daniele Franco said this week. Three prospective bidders for ITA Airways have had access to its finance data room, Franco said addressing parliament over the issue. They are shipping group MSC alongside Germany’s Lufthansa, the U.S. Certares fund in cooperation with Delta and Air France, and investor Indigo Partners, Franco added. Under a government decree, Rome plans to privatise ITA through a direct sale while retaining a minority, non-controlling stake in…
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Italy to sees bids for ITA Airways by April 18

Italy to sees bids for ITA Airways by April 18

MILAN, April 8 (Reuters) - Italy's Treasury has invited suitors interested in buying the majority of ITA Airways to express their formal interest in the carrier by April 18, three sources close to the matter said. ITA took over from Alitalia in October, permanently grounding the 75-year-old, one-time symbol of Italian style and glamour after years of financial losses and failed rescue attempts. Shipping group MSC and Germany's Lufthansa  have expressed interest in buying a majority stake in ITA and requested an exclusivity period of 90 days to iron out details of an acquisition. But Rome opted for a market-based procedure aimed…
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Delta, Air France-KLM eye majority stake in ITA airways

Delta, Air France-KLM eye majority stake in ITA airways

Delta Airlines , Air France-KLM , with the backing of an international fund, have expressed interest for a majority stake in Alitalia's successor ITA Airways, daily La Repubblica reported on Thursday, citing a government source. The expression of interest was presented to Italy's government in a letter, one-and-a half page long, seen by the government source, the paper added. A further expression of interest arrived from another international fund which is already invested in low-cost carriers, the paper added. Air France-KLM, Delta and Virgin Atlantic said in an emailed statement they were committed to working with the new Alitalia management "to deepen our cooperation,…
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Lufthansa far from seeking majority stake in Italy’s ITA -CEO

Lufthansa far from seeking majority stake in Italy’s ITA -CEO

BERLIN, March 3 (Reuters) - Germany's Lufthansa LHAG.DE has no immediate plans to take a majority stake in ITA, Chief Executive Carsten Spohr said on Thursday. Asked if Lufthansa wanted to buy a majority stake in the restructured airline, Spohr said: "We are far away to do this with ITA", adding the company would look carefully at the figures. "We know what we are doing in Italy, no worry," said Spohr referring to the past of ITA predecessor Alitalia with decades of losses. "I hear my shareholders - don't worry we know there is a legacy."  Italy's audit court approved a government decree detailing…
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EasyJet wants more Milan slots if ITA links with Lufthansa

EasyJet wants more Milan slots if ITA links with Lufthansa

ROME, Feb 17 (Reuters) - EasyJet EZJ.L would want more slots at Milan's Linate airport should carrier ITA team up with Germany's Lufthansa , the chief executive of the British carrier said, indicating the airline's commitment to Italy. "We want to expand. If ITA goes (to Lufthansa) then Linate will increase the flights towards Frankfurt and Munich," easyJet CEO Johan Lundgren was quoted as saying in daily Il Sole 24 Ore on Thursday. "ITA should give up some slots and it would be an opportunity for easyJet to have more in order to increase connections from Milan to Europe's capitals, " he added. EasyJet, the…
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Italy launches sale of ITA Airways, to keep minority stake

Italy launches sale of ITA Airways, to keep minority stake

ROME (Reuters) - The Italian government has launched the process to find a partner for ITA Airways and in a first stage will retain a minority stake in the successor company to Alitalia, Economy Minister Daniele Franco revealed. Rome has drafted a decree which lists ways it can offload its holding in the airline, including a direct sale or a public offer, without setting a deadline for a deal. “There are subjects interested in the operation but we do not have a plan under which we can predetermine the timing,” Franco said during a news conference after a cabinet meeting.…
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Italy studying decree to sell stakes in Ita Airways

Italy studying decree to sell stakes in Ita Airways

ROME (Reuters) - Italy's Treasury is studying a decree detailing ways to sell stakes in state-owned carrier ITA Airways under an open and market-based procedure, two sources close to the matter said. The move would keep the door open to other potential suitors, snubbing a request for immediate exclusive talks presented by shipping group MSC and Germany's Lufthansa . The two partners last week expressed interest in buying a majority stake in ITA, the successor to Alitalia, and asked for an exclusivity period of 90 days to iron out details of the acquisition. In a recent interview, MSC Group founder…
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Shipping group MSC interested in majority of ITA, managing it

Shipping group MSC interested in majority of ITA, managing it

ROME, Jan 27 (Reuters) - Shipping company MSC wants to hold a majority stake in ITA Airways and be able to run the Italian carrier, the chairman of the Swiss-based group was quoted as saying in an interview with daily Corriere della Sera published on Thursday. "The main point is to have the majority of ITA Airways. (Lufthansa) can enter as a commercial partner or minority shareholder," Gianluigi Aponte, founder and chairman of MSC, one of the world's leading shipping companies, told the paper. He added that MSC would want to manage ITA and would not be a "sleeping partner".…
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ITA says airport incentives to low-cost airlines risk causing a “blood bath”

ITA says airport incentives to low-cost airlines risk causing a “blood bath”

MILAN  (Reuters) - ITA Airways is seeking the same incentives that small airports and local administrations in Italy grant to low-cost carriers, the chairman of Alitalia’s successor said, warning of dire consequences if this does not happen. The small airline started operations on Oct. 15 with less than half the fleet its predecessor Alitalia had and has seen Ryanair, Wizz Air and other budget rivals quickly gain market shares in its home turf. “The competition is unfair ... we risk a blood bath if we try to regain market shares in airports where budget carriers enjoy incentives we don’t have,”…
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ITA Airways seeks an ally to put ‘money on the table’

ITA Airways seeks an ally to put ‘money on the table’

MILAN (Reuters) -Alitalia’s successor ITA Airways is looking for a partner ready to invest in the Italian carrier, Chairman Alfredo Altavilla said, adding that the airline could seal an alliance by June. Speaking at a parliamentary hearing, Altavilla said that the state-owned carrier had already started informal talks with some potential partners, both in Europe and overseas, but did not name any suitors. “We don’t need code sharing or a commercial joint venture. If you put money on the table, you play; if you don’t put money on the table, you can avoid asking for access to the data room,”…
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