Delta, Air France selected for ITA Airways takeover
Italy has selected Delta Air Lines and Air France-KLM as the preferred bid to take over national carrier ITA Airways.
The airlines will enter exclusive talks for the takeover, with lead investor, Certares.
It was chosen ahead of MSC Group, partnering German airline Lufthansa, which were considered front-runners.
The Delta Air Lines – Air France bid ‘was deemed to be the most in line with the objectives set’ the Italy economy ministry said.
“At the end of the exclusive negotiations, binding agreements will only be signed if their content is fully satisfactory for the public shareholder,” the ministry added.
Certares has reportedly proposed to buy almost 56% for $599 million.
Italy would keep a 44% stake and have representation on a future ITA board.
MSC and Lufthansa had filed a bid to buy 80% of ITA Airways.
“From our point of view, our joint offer with MSC was the better solution for ITA,” Lufthansa said in response.
“Evidently, a path is now being chosen that allows more state influence and does not envisage the complete privatisation of ITA.”
Air France-KLM previously had a 25% stake in Alitalia.
Ray Monty
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025