Air France with KLM Airlines set to win the ITA Bid

BUENA PARK, Calif. - Sept. 14, 2022 - PRLog -- San Bernardo, USA: On Wednesday, the Italian Ministry of Economy and Finance announced that they had done some exclusive negotiations with the private equity firm Certares, as well as Air France-KLM and Delta, in the privatizations of ITA. Therefore the ITA replaced ailing state-owned carrier Alitalia in October 2021. Also, the Ministry of Economy and Finance said that the Certares-led consortium's offer was "more in line" with the objective of the sale than competing with the bid from Shopping Giant MSC and the Lufthansa Group.

They announced that Air France-KLM will not participate in the initial investment but could consider a minority stake in the future. However, Lufthansa and MSC are widely viewed as the preferred bidder in the market before submitting the latest offers. The details of those bids have not been released yet. However, the Italian daily Corriere Della Serra has reported that the Certares-led group's flexibility and the final shareholdings compared to the set offer from the MSC helped make a significant difference in sales.

According to Corriere Della Serra, the parties, Lufthansa and MSC, have valued ITA at a rough budget of around €950 million. The Certares consortium is offering around €600 million for a stake of 55 percent, while MSC and Lufthansa seek to control more than 80 percent of the Italian airlines.

In addition to the joint offer with MSC, the Lufthansa spokesperson added that the group will "continue to expand" in Italy while including its Italian subsidiary Air Dolomiti. Earlier in August, their comments echoed ones made by the group's CEO Carsten Spohr. When he said, the Air Dolomiti fleet would grow "by a few aircraft" depending on the decision ITA makes. A delta Spokesperson said that the Airline is looking forward to building "closer ties" with ITA. While Italy officially, launched the tender for the privatization of ITA in February. In the meantime, delta and Lufthansa had already begun to joke publicly about a stake in the Italian airlines.

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