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ITA Airways: Indigo is almost out

Fund not present in data room, then denial of alliance with Certares

US investment fund Indigo Partners is almost out of the game for the takeover of national airline ITA Airways. In fact, it is not present in the data room and appears to have definitively rejected the request for an alliance with Certares. Meanwhile, today at 11:59 pm the deadline for submitting a binding offer to buy the majority shares of the airline, now controlled by the Ministry of Economy and Finance (Mef), expires. 

The Indigo fund, which specializes in investments in, among other things, low-cost airlines including Hungary's Wizz Air, is not expected to submit a joint bid with Certares. The latter fund thus hoped to put on the table a better cash proposal than the initial one (700 million euros) and the one put forward by the rival Italo-German cordate composed of shipowner Msc and Lufthansa (1.2-1.4 billion euros).

The latter offer would thus remain favored. The signal has also come indirectly: the recent 10-year agreement between the airline Air France and the French maritime transport company Cma Cgm, provides precisely for the joint planning of merchant and air cargo networks. Evidence that the Msc-Lufthansa plan is heading in the right direction. 

On the same topic see also the article published by AVIONEWS.

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AVIONEWS - World Aeronautical Press Agency