Who is Certares, the future new owner of ITA Airways
Founded in 2012, its president and sole director is Greg O'Hara, who has both Canadian and [...]
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Established in 2012, its president and sole director is Greg O'Hara, who has both Canadian and Greek nationality. And this is not a detail: thanks to the Greek passport formally the owner of the company will be a European citizen thus being able to manage, without constraints, all aspects of the company such as flight rights between Italy and the US.
Certares is headquartered in New York and has offices in Luxembourg and for the past few months, just to facilitate negotiations with the MEF, also in Milan.
He manages private equity funds, private credit and real estate and is a leader in investments in the travel, tourism and hospitality sectors With shares in companies that sell travel or services such as American Express, Global Business Travel, Tripadvisor, Hertz and luxury tourist agencies in the United States. Its market value is more than $10 billion.
ITA will not be the only company in Certares' portfolio; the fund managed by Greg O'Hara is also a major partner in LATAM, a Santiago, Chile-based carrier with subsidiaries in other South American states as well as a shareholder in Azul in Argentina.
I personally disagree with what Ansa wrote.: "Certares will therefore be able to help Ita sell millions of tickets, particularly in business class and on the most profitable routes such as long-haul routes to North America. At the same time it will be able to help bring many high-end American tourists to Italy." On the contrary, I hope Certares has big enough shoulders to defend ITA Airways from assaults by Delta and Air France who, historically, have always worked to prevent Alitalia's growth in the American market.
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