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ITA Airways: hypothesis of a US stringer

Certares and Indigo Partners funds to beat Msc-Lufthansa bid

US Certares fund is attempting to build a cordate with investment Indigo Partners Group with the aim of joining forces and submitting a joint takeover bid vis-à-vis the national airline ITA Airways, in which the Italian government is divesting a majority stake. The goal is to jointly submit a binding offer by May 23.

This is an initiative aimed at countering the proposal put forward by Italian shipping group Mediterranean Shipping Company (Msc) in partnership with German airline Lufthansa. 

Initially, Certares Fund, which is monitoring the Italian airline's performance in data rooms, submitted a bid in partnership with French Air France and US Delta Air Lines. Now it would like to create a cordate with Indigo Partners, which is not yet in the data room. This is an American private equity firm that has controlling stakes in American Frontier Airlines and Chilean low-cost Jet Smart, as well as stakes in Mexican budget airline Volaris and European low-cost carrier Wizz Air.

According to the newspaper "Il Corriere della Sera", which quotes sources close to the dossier, Indigo has reportedly responded negatively at the moment. However, Certares emissaries reportedly met with the investment group's management to try to define spaces for working together.

On the same topic see also the article published by AVIONEWS

Gic - 1244556

AVIONEWS - World Aeronautical Press Agency
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