AIP Capital and ITA Airways Complete Secured Debt Financing

AIP Capital, an alternative investment manager focused on opportunities in commercial aviation, announced it has completed a $240m debt financing to a wholly owned subsidiary of ITA Airways ("ITA") through its Private Credit strategy. The $240 million debt financing is secured by three 2024 Airbus A330-900neo aircraft with Rolls-Royce Trent 7000 engines.

The financing transaction will provide ITA with an innovative capital solution to further strengthen its financial position and enhance its growth. With the introduction of the latest generation eco-efficient A330neo, ITA continues its fleet modernization to meet its ambitious sustainability targets. The A330neo incorporates the latest-generation Rolls-Royce Trent 7000 engines, new wings and a range of aerodynamic innovations which offers a 25% reduction in fuel consumption and CO2 emissions.

"We are proud to deepen our partnership with ITA Airways by providing a bespoke financing solution to support ITA's fleet modernization," said Michael Kittle, Managing Director, Head of Private Credit at AIP Capital. "This transaction is a testament not only to our shared mission of fostering more sustainable air travel, but to AIP's expertise in structuring innovative, scaled, capital solutions for our airline customers globally."

ITA Airways takes delivery of its first Airbus A321neo

ITA Airways has taken delivery of its first A321neo on lease from Air Lease Corporation from Airbus’ Hamburg production facilities.  This latest addition further consolidates ITA Airways' all-Airbus fleet strategy, which currently stands at 81 aircraft, and includes the latest generation A220, A320neo, A330neo and A350 aircraft.

ITA Airways’ A321neo,  which will serve the airline’s medium-haul routes, is fitted with a three-class configuration including 12 Business Class full flat beds with direct aisle access, 12 Premium Economy seats in 4-abreast, and 141 Economy seats of which 12 are dedicated to Comfort Economy.

ITA Airways' A321neo aircraft features Airbus' Airspace cabin design, which includes new XL overhead bins and customised interior lighting based on the latest full-LED technologies to help reduce jet lag. In addition, to enhance the passenger experience, each seat is equipped with the latest generation in-flight entertainment system with individual screens and on-demand content.

The A321neo is the largest aircraft in Airbus’ A320neo Family, offering unparalleled range and performance. By incorporating new generation engines and Sharklets, the A321neo brings a 50% noise reduction and more than 20% fuel savings and CO₂ reduction compared to previous generation single-aisle aircraft. Having the widest single-aisle cabin in the sky, the aircraft is the perfect contender for maximising comfort.

To date, more than 5,500 A321neos have been ordered by customers across the globe.

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Italy to complete ITA deal by the end of October?

The Italian Economy Minister Giancarlo Giorgetti has confirmed that the country will flog off a 41% share in the financially troubled ITA Airways to Lufthansa with the formal notification due by the end of October.  

Speaking at a press conference after presenting Italy's 2024 budget, Giorgetti confirmed the country had also been in talks with European Union competition authorities to secure informal backing for the deal to sell a 41% stake in ITA to Germany's Lufthansa.

Giorgetti said he hoped to go ahead with the formal notification of the deal to Brussels by the end of October after the issue sparked tension between Prime Minister Giorgia Meloni and the EU last month.  Meloni said Brussels had been blocking the deal with Lufthansa, urging the Commission to explain the reason.

Second of two Airbus A320neo jets delivered to ITA

BOC Aviation Limited has delivered the second of two new Airbus A320NEO aircraft for lease to Italia Trasporto Aereo S.p.A. - ITA Airways, both aircraft are part of the company’s existing order book.

“We are thrilled to assist ITA Airways as it expands its fleet and develops its network within Italy and internationally,” said Robert Martin, Managing Director and Chief Executive Officer, of BOC Aviation. “The two A320NEO aircraft that we have delivered to the company represent some of the most technologically advanced and fuel-efficient aircraft currently available.” 

BOC Aviation is a leading global aircraft operating leasing company with a fleet of 681 aircraft owned, managed and on order. Its owned and managed fleet was leased to 93 airlines in 44 countries and regions worldwide as of 30 September 2023. 

The carrier has recently signed up to the CargoWisejoined Connectivity Programme that enables freight forwarders to efficiently plan, book, confirm and manage shipments with the airline, in real-time from within the industry’s leading logistics execution platform CargoWise. 

Emiliana Limosani, Chief Commercial Officer ITA Airways said: “ITA Airways’ growing presence on online cargo booking portals is a key pillar of our business development strategy. This connection to the CargoWise ecosystem further enables this strategy. The air cargo market is extremely dynamic, and we need to be able to respond quickly and accurately to drive customer experiences with ITA Airways. We want to be present with our offer where our customers are, and we encourage our customers to search ITA Airways Cargo offer online through the digital booking platforms we partner with”

ITA Airways and Turkish Airlines launch codeshare deal

ITA Airways, the national flag carrier of Italy, and Turkish Airlines, the airline that flies to more countries than any other carrier in the World, jointly announce the commencement of a codeshare partnership that will be effective within July 2023. The signed agreement between the two flag carriers will be offering more flexibility in terms of flight choices for customers of both airlines between Italy and Türkiye.

Through this codeshare partnership, ITA Airways’ marketing flight numbers will be placed on Turkish Airlines’ flights between Rome and Istanbul; and Turkish Airlines will place its marketing numbers on 9 destinations of ITA Airways within Italy from Rome, including Brindisi, Bari, Catania, Florence, Genoa, Palermo, Lamezia Terme, Turin and Trieste. This partnership will be providing enhanced services to customers of both airlines with a seamless connectivity of a single ticket and through check-in of passengers and luggage to their final destination. 

Mr. Bilal Ekşi, Turkish Airlines’ CEO, said “Rome and Istanbul have always been exceptional cities to attract and connect people. I firmly believe this codeshare agreement between Turkish Airlines and ITA Airways will be developing the existing network with even more destinations and foster cooperation and traffic between two countries with high potential. In addition, this partnership is well on the way to generate positive energy for tourism, expand Turkish Airlines’ reach and enhance customer benefits.”

"With the codeshare partnership with Turkish Airlines, ITA Airways’ commercial strategy of growth makes a step forward, together with the existing partnerships with the world's leading carriers - said Fabio Lazzerini, CEO and General Manager of ITA Airways – This partnership opens up a privileged access route to Istanbul, one of the most fascinating and historically rich cities in the world for all ITA Airways passengers. This agreement represents the Company's 32nd codeshare: an excellent result we have achieved in less than two years".

The new codeshare flights will be available for purchase through the airlines’ sales channels and websites at ita-airways.com and turkishairlines.com.

ITA Airways takes delivery of its first A330neo

ITA Airways, Italy’s national carrier, has taken delivery of its first A330-900, on lease from Air Lease Corporation (ALC), during a ceremony held in Toulouse. The A330neo will join the ITA Airways fleet in June to serve its long-haul routes and new intercontinental destinations.

The A330neo is the latest-generation aircraft type from Airbus to join the ITA Airways’ fleet. The airline already operates all Airbus aircraft Families with a fleet of 68 Airbus aircraft (4 A220s, 50 A320 Family, 8 A330-200s and 6 A350-900s). By selecting A330neos, ITA Airways is further consolidating its strategy of being an all Airbus operator and leveraging new levels of efficiency and flexibility.

With the introduction of the latest generation eco-efficient A330neo, ITA Airways continues its fleet modernisation to meet its ambitious sustainability targets. To further support this ambition the delivery flight will be powered by a 16% blend of sustainable aviation fuel (SAF).

The A330neo delivers unbeatable operating economics and boasts an award-winning Airspace cabin with more passenger space, a new lighting system, the latest in-flight entertainment systems and full connectivity throughout the cabin.

A new Airbus A320neo to ITA Airways

Total of 5 Airbus A320-200neos to be delivered to ITA Airways in 2023

 

Avolon, the international aircraft leasing company, has delivered 3 new Airbus A320-200neos to ITA Airways. 

A further 2 aircraft will be delivered later in the year, supporting ITA Airway’s target for its portfolio to comprise 80% new-generation fuel-efficient aircraft by 2026. 

The newly delivered aircraft are the first A320neos in ITA Airway’s fleet. Carrying the company’s striking new blue livery, these aircraft will support its short and medium-haul services in the 2023 summer season. 

Paul Geaney, President and Chief Commercial Officer, Avolon commented: “We are delighted to support ITA Airways with the delivery of the first A320neos in their fleet. One of our core commitments is to help customers make the transition to fuel-efficient new technology aircraft, and this deal demonstrates how a lessor like Avolon can help airlines achieve their sustainability ambitions.” 

Francesco Presicce, Officer, Chief Technology Officer ITA Airways: “The A320neo combines technology and efficiency to deliver 20% less fuel consumption and CO2 emissions per seat compared to previous generation aircraft. It is further enriching ITA Airways modern and environment-friendly fleet, which will feature 80% new generation aircraft by 2026. We are very pleased to be working with Avolon and taking delivery of these new aircraft to serve on our domestic and international network as we look forward to a busy summer 2023.”

ITA Airways Joins the Board of Airline Representatives in Germany

ITA Airways Joins the Board of 

Airline Representatives in Germany

 

Born at the end of 2020, ITA Airways is one of the youngest European airlines. As the new Italian national carrier, ITA Airways serves an extensive domestic and international network via its two hubs Rome Fiumicino and Milan Linate. Now, the airline joins the Board of Airline Representatives in Germany (BARIG).

 

“ITA Airways is a young and modern airline and an ambassador of ‘Made in Italy’ in the world,” Michael Hoppe, BARIG Chairman and Executive Director, states. “We are very delighted that ITA Airways—like more than 100 other airlines—has chosen a BARIG membership.”

 

ITA Airways expands its intercontinental network Rome Fiumicino – Rio de Janeiro direct flights

ITA Airways expands its intercontinental network

Rome Fiumicino – Rio de Janeiro direct flights 

ITA Airways' intercontinental expansion continues, with new flights from Rome Fiumicino to Rio de Janeiro. The long-haul expansion is one of the major pillars of ITA Airways' strategy, as it generates profitability but also enhances the short-haul connectivity, thus contributing to double the capacity of the Company’s intercontinental network. 

 ITA Airways' new connection will be operated with the Airbus A330, from October 29, 2023, with a daily frequency departing from Rome Fiumicino airport at 9:50pm and arriving to Rio de Janeiro International Airport at 6:05am, local time. Flights from Rio de Janeiro will be operated from October 30, 2023, with daily frequency departing at 3:45pm and landing at Rome Fiumicino at 6:45am, local time. 

The new connections will allow ITA Airways to further strengthen its expansion in South America, following the flights opening to Buenos Aires and Sao Paulo, which has always been a privileged destination for Italian holidays and the destination with the highest rate of Italian origin population, as well as a strategic market together with the United States for business and cargo traffic. 

ITA Airways is enhancing its Rome Fiumicino - New Delhi

ITA Airways is enhancing its Rome Fiumicino - New Delhi direct flight to meet the expected increase in demand, with a new frequency in the first two weeks of March 2023 and from April through May 2023. 

Tickets are already available on all ITA Airways sales channels and at travel agencies, which strongly support this new intercontinental route opened last December and now offers the following schedule:

• From 1 March to 12 March and from 27 March to 31 May 2023, the flight from Rome Fiumicino will be operated four times a week departing every Monday, Wednesday, Saturday and Sunday at 2:10 p.m. with arrival in New Delhi the following day at 2:00/1:15 a.m. local time. In the period 13 – 15 March the route will be operated three times a week, departing every Monday, Wednesday and Saturday at 2:10 p.m. and arriving in New Delhi's Indira Gandhi International Airport at 02:00 a.m., local time.

• From March 1 to March 13 and from April 3 to May 30, 2023, the return flights will be operated with four weekly frequencies every Monday, Tuesday, Thursday, and Sunday departing from New Delhi's Indira Gandhi International Airport at 3:50/3:15 a.m. and arriving in Rome Fiumicino at 8:10/8:15 a.m. From 14 to 23 March and from 26 March to 2 April the flight will be three times a week, every Tuesday, Thursday, and Sunday with the same departure/arrival times.

With the introduction of an additional frequency in the direct connection from Rome to New Delhi, ITA Airways is continuing to strengthen the ability to attract connecting customers, tapping into the flows between India and North and South America, Germany, Spain and France. 

With the opening of New Delhi, ITA Airways intercontinental network is steadily growing: in the winter season, the Company is serving a total of 51 destinations, including 9 intercontinental routes, with the recently launched Tokyo-Haneda and Malé (Maldives), joining the long-haul flights to New York, Los Angeles, Boston, Miami, Buenos Aires and São Paulo opened earlier this year.

Air France - KLM Group & Delta moving forward with ITA tie up following Italian government declaration

Air France-KLM welcomes the announcement by the Italian Government granting the exclusivity to the Consortium formed by Certares - as equity partner - and Air France-KLM and Delta Air Lines - as commercial partners - for the next phase of the negotiations for the potential acquisition of a participation in ITA Airways held directly by the Ministry of Economy and Finance of the Italian Government.

Should this operation 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, Air France-KLM Group could consider in the medium term to take a minority stake in ITA.

Air France-KLM has a longstanding relationship with ITA and previously with Alitalia. Together with its Joint Venture partner Delta Air Lines, Air France-KLM looks forward to fostering closer ties with ITA and building upon the existing commercial partnership the airlines have formed, in particular through the implementation of codeshare 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 notably emphasized the strong commercial opportunities this deal would bring ITA subject to 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 program-, to the benefit of the Italian carrier’s customers.

ITA Airways and Kuwait Airways agree codeshare deal.....

Launch of codeshare flights between 

ITA Airways and Kuwait Airways

ITA Airways and Kuwait Airways have just announced they have agreed on a new strategic partnership, which will see Kuwait national carrier’s code used for ITA Airways flights within Italy and between Italy and Europe.

 

ITA Airways’ code will be used for Kuwait Airways flights between Kuwait and Rome Fiumicino/Milan Malpensa.  This Codeshare agreement will be available from June 6, 2022, as the travel start date. The agreement will take the partnership between the two national flag carriers to new heights, while providing greater opportunities to passengers in Kuwait and Europe.

Kuwait Airways will be able to sell 12 destinations within Italy (Palermo, Catania, Florence, Brindisi, Bari, Venice, Torino, Genoa, Trieste, Bologna, Naples, Lamezia Terme) and 2 international destinations (between Rome, Athens and Nice). 

Joint statement by ITA Airways and Kuwait Airways: “Kuwait is the natural historical connection point between Asia and the Middle East/Europe/USA on one side and Italy is the natural historical connection point between Europe/USA/the Middle East/the Indian Sub-continent/the Far East on the other side. Both Companies firmly believe that this agreement will enhance commercial and tourism relations between Italy, Europe, and Kuwait. Both ITA Airways and Kuwait Airways will work closely to offer the best services to passengers and improve the customer experience. Passengers and travel agents will be able to book these flights directly through our websites or the travel agents’ reservation systems. Furthermore, this codeshare agreement will further enhance the relationship between the two airlines and between the two countries, Kuwait and Italy.”

“Signing of this agreement takes place at the time when world air travel industry is witnessing the toughest challenges in the wake of the Pandemic. This agreement will provide better travel options and connectivity to travellers of Kuwait Airways and ITA Airways. Both airlines have also agreed to explore additional possibilities of cooperation in the future with Frequent Flyer Programme and expansion of codeshares.”

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ITA Airways starts new Rome - Buenos Aires route with Airbus A350 jets

The Italian state airline ITA Airways has launched flights from Rome Fiumicino to Buenos Aires in Argentina with Airbus A350 aircraft -  a first for Italy and for the Company.

The service featured the new uniforms created by the ITA team with the kind stylistic consultancy of Brunello Cucinelli and for the first time on a flight, the new aircraft interiors created by designer Walter De Silva, new onboard catering designed by Michelin-starred chef Enrico Bartolini. 

The new Rome - Buenos Aires flight is operated with the Company's new A350 with 5 weekly frequencies every Tuesday, Thursday, Friday, Saturday and Sunday from Rome and every Monday, Wednesday, Friday, Saturday, and Sunday from Buenos Aires. The frequencies in August will become daily.

AZ680 departs Rome at 21:45 and arrives at 06:50 in Buenos Aires.

AZ681 departs Buenos Aires at 12:40 and lands back in Rome at 06:40

In addition, thanks to the codeshare agreement with Aerolíneas Argentinas, ITA Airways customers will be able to reach 34 daily domestic destinations in Argentina, connecting via Buenos Aires, by purchasing a single ticket.

Launched in early March, ITA Airways 2022 summer season includes 63 new destinations, of which 22 are domestic, 34 are international and 7 are intercontinental. Thanks to code share agreements with the major international carriers, ITA Airways is continuing to grow its network via partnerships with other global carriers – giving a privileged access route to the markets of greatest interest for the Company, firstly and foremostly in Europe and America, but also in Africa and Saudi Arabia.

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Lufthansa wants to acquire a 20% stake in state-owned Italian airline ITA Airways.....

Photo REUTERS/Remo Casilli

Germany's leading international airline, Lufthansa wants to acquire a 20% stake in state-owned Italian airline ITA Airways, the successor to Alitalia, and its partner MSC is bidding for a 60% stake, a person familiar with the matter told Reuters on Tuesday.

The Italian state would initially keep the remaining 20%, the source said. The Lufthansa-MSC duo made their offer to acquire a majority stake in ITA on Monday.

MSC, also known as Mediterranean Shipping Group, has filed an offer together with Lufthansa and is awaiting the next steps, a company spokesperson said, declining to comment further.

The Italian Treasury did not reply to a request for comment on the sale process after the deadline for bids on Monday.

MSC and Lufthansa face a rival bid from U.S. financial investor Certares which is working with Air France-KLM (AIRF.PA) and Delta Air Lines (DAL.N).

Delta confirmed on Tuesday that it would not be a financial investor in ITA, but said in a statement that it would seek to build on an existing commercial partnership with ITA.

Air France-KLM declined to comment on ITA on Tuesday.

It has launched a 2.26-billion-euro ($2.4 billion) share sale to shore up its balance sheet and repay some French state aid, bringing it closer to repaying government pandemic support and meeting European Union conditions for participating in any future airline consolidation. read more

Italian media reports said the Alitalia successor was worth between around 1 billion and 2 billion euros. A Lufthansa spokesperson did not want to comment on the figures.

A decision is expected in the coming weeks about which of the two bidder groups will be invited to launch exclusive negotiations. Italy is aiming to complete a sale by the end of June.

 Reporting by Ilona Wissenbach, Zuzanna Szymanska, Rajesh Kumar Singh, Jonathan Saul and Giuseppe Fonte Writing by Paul Carrel Editing by Miranda Murray and Jonathan Oatis

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ITA Airways becomes first Italian A350 operator

The Italian Government-owned airline ITA Airways has taken delivery of its first Airbus A350 becoming the 40th operator of the type. The aircraft, which is on lease from ALAFCO, landed for the first time in Italy at Rome Fiumicino Leonardo da Vinci International Airport on Wednesday evening.

ALAFCO is a Kuwait-based aircraft leasing company and is listed on the Kuwait Stock Exchange. ALAFCO’s portfolio consists of 77 aircraft, leased to 23 airlines in 17 countries across Europe, Asia, Africa, Latin America, and the Middle East.

ITA Airways’ A350 cabin is configured in a two-class layout, with 334 seats comprising 33 full lie-flat bed Business and 301 Economy seats.

ITA Airways’ A350 will start operations early June 2022 to serve the new intercontinental routes that the company will open in the summer season from Rome Fiumicino to Los Angeles, Buenos Aires and Sao Paulo.

In December 2021, the Italian carrier firmed up an order for 28 Airbus, including 18 Single Aisle (seven A220s, 11 A320neos) and 10 A330neos, the latest version of the most popular A330 widebody airliner. Moreover, ITA Airways already leased more than 50 additional new generations Airbus aircraft, six of which are A350s, to complement their fleet modernisation.

The Airbus A350’s clean-sheet design features state-of-the-art aerodynamics, fuselage and wings made of advanced materials, plus the most fuel-efficient Rolls-Royce Trent XWB engines. Together, these latest technologies translate into unrivalled levels of operational efficiency and sustainability for ITA Airways, with a 25% reduction in fuel-burn and CO2 emissions compared to previous generation aircraft.

 

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Airbus and ITA Airways partner to develop urban air mobility in Italy

Airbus and ITA Airways have signed a Memorandum of Understanding to collaborate on urban air mobility (UAM) in Italy. The two companies will explore the creation of tailored UAM services, by identifying strategic use cases for emission-free mobility solutions.

The agreement foresees a joint approach toward local mobility stakeholders in order to onboard additional partners for the safe and sustainable launch of operations with the CityAirbus NextGen electric vertical take-off and landing (eVTOL) aircraft, currently in development. The parties also agree to identify pilot cases with the goal of securing public acceptance of UAM by demonstrating the added value that it can bring to communities.

“The partnership between ITA Airways and Airbus started with the evolution toward more modern, more comfortable and environmentally-friendly commercial aircraft, equipped with cutting-edge technologies”, said Alfredo Altavilla, Chairman of ITA Airways. “With this agreement, our partnership expands to the segment of urban air mobility for a wider, customer-centric, innovative and sustainable offer for our customers.”  CityAirbus NextGen is a fully electric vehicle equipped with fixed wings, a V-shaped tail, and eight electrically powered propellers as part of its uniquely designed distributed propulsion system. It is designed to carry up to four passengers - including a pilot - in zero-emission flights for multiple applications. CityAirbus NextGen is being developed to fly with a 80 km operational range and to reach a cruise speed of 120 km/h, making it perfectly suited for a variety of missions.

Guillaume Faury, CEO of Airbus, said: “This agreement is testimony to the strong relationship between Airbus and ITA Airways. It is an opportunity to leverage our shared ambition – pioneering sustainable aerospace –  and advance new air mobility solutions for zero-emission vertical flight in support of our cities and communities later this decade.”

ITA Airways is the Italian flag carrier airline. It was created in 2021, with sustainability as one of the fundamental pillars of its business plan. The company has shown a keen interest in innovative projects to decarbonise aviation, such as the development of urban air mobility through eVTOLs. ITA Airways recently directly purchased 28 aircraft from the manufacturer, including seven A220s, 11 A320neos and 10 A330neos. The A350 will also join the company’s fleet this summer.

Since 2014, Airbus has been exploring how electric propulsion can help drive the development of new kinds of aerial vehicles. In September 2021, the Company unveiled its fully electric eVTOL prototype, CityAirbus NextGen. Airbus is developing a UAM solution with eVTOLs not only to offer a new mobility service but also as an important step in its quest to reduce emissions in aviation across its product range.

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ITA to lease 10 Airbus A320neo and 2 A330neo jets from AerCap

The new Italian airline resurected from the ashes of Alitalia, ITA has signed a deal to lease 12 Airbus aircraft from global leasing firm AerCap.

The long-term lease deal is for 10 new Airbus A320neo aircraft and 2 new Airbus A330neo aircraft with the first of the planes due to be delivered at the start of 2023 and the last before the end of 2024.  

Francesco Presicce, Chief Technology Officer of ITA Airways, said: "The integration of these new aircraft is perfectly in line with the Company's fleet plan. This agreement represents a further step in our strategy of building a new environmental-friendly fleet with leadingedge technologies which will optimize efficiency, quality of service and significantly reduce the environmental impact. ITA Airways places the best customer service at the centre of its strategy with a strong focus on sustainability. The collaboration with AerCap allows us to improve cost efficiencies across our fleet. I wish to thank the AerCap team for their cooperation."

Peter Anderson, Chief Commercial Officer of AerCap, said, "We are very pleased to expand our relationship with ITA Airways through the lease of these twelve advanced-technology Airbus A320neo and A330neo aircraft.  These aircraft will enable ITA Airways to expand its network, whilst advancing its commitment to maintain an environmentally friendly, fuel-efficient fleet. We thank the team at ITA Airways for the confidence they have placed in AerCap, and we look forward to building the partnership for many years to come."

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