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    AF   FR0000031122

AIR FRANCE-KLM

(AF)
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Air France KLM : Alitalia successor ITA wants to join a strategic alliance, says chairman

10/15/2021 | 08:26am EST
ITA Airways Chairman Alfredo Altavilla poses with the image of the new livery for the carrier's jets

MILAN (Reuters) - Italy's new ITA Airways aims to join an airlines alliance next year, the chairman of Alitalia's successor said on Friday.

Alitalia, which operated its last flight on Thursday, was part of the SkyTeam alliance with Air France, KLM and Delta. But ITA will have to negotiate a pact from scratch and could choose to team up with others, such as Lufthansa and its Star Alliance partners.

"I am open to negotiate with everyone," Chairman Alfredo Altavilla said at a digital event to mark the debut of the airline. "ITA has been created to be a strategic element in one of the large networks that already exist in the sector."

"ITA can't be a stand-alone carrier forever," Altavilla said, although he said the new carrier would not sacrifice its Rome Fiumicino and Milan Linate airport hubs to please a future partner.

ITA started flying in place of Alitalia on Friday, after the airline that was once a symbol of Italian style and glamour was finally grounded after years of financial losses and failed rescue attempts.

Despite buying the brand from Alitalia, the carrier will fly jets with a new blue livery with traditional green-white-red from the Italian flag as details.

(Reporting by Francesca Landini; Editing by Edmund Blair)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIR FRANCE-KLM -1.09% 4.158 Real-time Quote.8.60%
DEUTSCHE LUFTHANSA AG -1.55% 7.129 Delayed Quote.17.17%
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Financials
Sales 2021 13 941 M 15 787 M 15 787 M
Net income 2021 -3 345 M -3 788 M -3 788 M
Net Debt 2021 10 860 M 12 298 M 12 298 M
P/E ratio 2021 -0,65x
Yield 2021 -
Capitalization 2 667 M 3 022 M 3 020 M
EV / Sales 2021 0,97x
EV / Sales 2022 0,68x
Nbr of Employees 74 415
Free-Float 47,5%
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Number of Analysts 22
Last Close Price 4,16 €
Average target price 3,67 €
Spread / Average Target -11,8%
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Managers and Directors
Benjamin M. Smith Chief Executive Officer & Director
Steven Zaat Chief Financial Officer
Anne-Marie Couderc Non-Executive Chairman
Jean-Christophe Lalanne Executive Vice President-Information Technology
Isabelle Bouillot Independent Director
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