ITA Airways divestment: the position of Air France and KLM
"Air France-Klm welcomes the announcement by the Italian government to grant exclusivity to the consortium formed by Certares -as [...]
KLM
ITA Airways
Air France
"Air France-Klm welcomes the announcement by the Italian government to grant exclusivity to the consortium formed by Certares -as equity partner- and carriers Air France-Klm and Delta Air Lines -as commercial partners- for the next phase of negotiations for the possible acquisition of a stake held directly by the Italian government's Ministry of Economy and Finance."
So begins the note issued by the Franco-Dutch group regarding the MEF's decision to enter into exclusive negotiations for the sale of a majority stake in ITA Airways.
In this article:
"Should such a transaction be concluded, Air France-Klm would become a commercial and operational partner of the Italian airline as part of the consortium led by Certares. Air France-Klm at this stage is not investing in ITA's capital structure. However, the group may consider in the medium term to acquire a minority stake in ITA."
"Air France-Klm has a long-standing relationship with ITA and previously with Alitalia. Together with its joint-venture partner Delta Air Lines, Air France-Klm looks forward to strengthening ties with ITA and building on the existing business partnership the companies have formed, particularly through the implementation of code-share agreements and ITA's entry into the SkyTeam alliance, of which Air France-Klm and Delta are founding members."
"Air France-Klm would like to thank the Italian government for its consideration throughout the bidding process, during which Certares, Air France-Klm and Delta Air Lines particularly emphasized the strong commercial opportunities that this agreement would bring ITA upon obtaining all relevant approvals. This includes an increased presence on the North Atlantic Axis, on which Air France-Klm, Delta and Virgin Atlantic operate the largest joint venture, as well as the opportunity to build an exclusive partnership between Air France-Klm's Flying Blue, Delta's Sky Miles and ITA's Volare, one of Italy's largest 'frequent flyer' programs, for the benefit of the Italian carrier's customers."
