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Lufthansa agrees to acquire 41% stake in ITA Airways

Lufthansa agrees to acquire 41% stake in ITA Airways

Today, Deutsche Lufthansa AG and the Italian Ministry of Economy and Finance came to an agreement for Deutsche Lufthansa AG to purchase a small part in the Italian national airline ITA Airways. Through a capital raise, Lufthansa will pay EUR 325 million to acquire a 41 percent stake in ITA.

The capital contribution thus directly benefits the company. As part of the agreement, the MEF has also committed to a capital increase of EUR 250m into ITA. In addition, the MEF and Lufthansa agreed on options to enable a potential acquisition of the remaining shares by Lufthansa at a later date. The purchase price for the remaining shares will be based on the business development of ITA Airways.

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The contractual finalization of the agreement is expected to be completed shortly. The acquisition of the minority stake is subject to approval by the relevant authorities. Upon closing of this transaction, ITA Airways and Lufthansa Group are expected to immediately start their cooperation at a commercial and operational level. As a network airline, ITA will closely cooperate with Lufthansa Group to benefit from group synergies.

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As part of Lufthansa Group, ITA will remain a standalone airline with its own management and a strong brand identity – in line with Lufthansa Group’s successful multi-hub, multi-brand and multi-AOC strategy. At the same time, ITA can benefit from synergies of the Group, such as access to the partner network, central revenue management and the use of Lufthansa Group’s global sales and marketing channels.

Lufthansa submits offer to acquire a stake in ITA(Opens in a new browser tab)

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The aim of the partnership is to increasingly transport passengers in Italy with rail connections to and from their respective flight connections at various Italian airports. Lufthansa Group already operates similar intermodal cooperation programs in its home markets, including Deutsche Bahn, Austrian ÖBB and Swiss Federal Railways.

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IndiGo beats Southwest Airlines to Become world’s largest airline by market cap

Malaysia Airlines And IndiGo Sign MoU To Boost Tourism

India’s aviation giant, IndiGo, has soared to new heights, surpassing the renowned US-based Southwest Airlines to claim the title of the world’s third most valuable airline, as per Bloomberg data released on Wednesday.

The surge in IndiGo’s market capitalization, fueled by a remarkable 4.73% jump in its share price to Rs 3,806, catapulted its market value to $17.605 billion, edging past Southwest’s $17.333 billion market cap.

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IndiGo’s strategic plans for expansion further solidify its position in the global aviation landscape. With intentions to add 10 new destinations to its network in the fiscal year 2025, the airline anticipates a substantial increase in capacity and passenger growth, aiming for a gross addition of over one aircraft per week during the same period.

Such ambitious endeavors, coupled with a burgeoning demand for travel attributed to tourism and a stable oil price environment, have contributed to the surge in IndiGo’s stock prices. Analysts at InterGlobe Securities attribute indigo partners airlines upward trajectory to several factors, including the operational challenges faced by competitor Vistara and the burgeoning appetite for travel among Indian households.

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The rise in income has elevated air travel to a lifestyle staple, with leisure holidays becoming increasingly prevalent. indigo partners As the holiday season approaches, airports across the nation are bracing for heightened activity, promising sustained momentum for IndiGo in the months ahead.

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Air India Cabin Crew Voices Fabric Issues in new uniforms

Air India Cabin Crew Voices Fabric Issues in new uniforms

Air India’s much-anticipated cabin crew uniforms, designed by renowned fashion icon Manish Malhotra and unveiled with ceremony last December, have encountered a setback.

The airline’s cabin crew, who initially donned the stylish attire on the carrier’s A350 aircraft, have voiced grievances regarding the quality of the fabric. Reports suggest that concerns have arisen over issues such as fast-fading colors, casting a shadow over the otherwise celebrated launch of the new uniforms.

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Despite the initial excitement surrounding their debut, the practicality and durability of the fabric have come under scrutiny. In response to the feedback received from its cabin crew members, Air India is poised to address the fabric-related issues promptly. Sources indicate that the airline is gearing up to commence production for all cabin crew uniforms, ensuring that the concerns raised are duly taken into account.

An Air India spokesperson in a statement to PTI, confirming the forthcoming measures, stated that the production program for over 8,000 cabin crew members will kick off within a week’s time. The spokesperson reassured that steps are being taken to rectify the fabric issues and ensure that the new uniforms meet the expected standards of quality and durability.

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The new uniform will subsequently be distributed to the crew, aligned with the transition of Air India’s flagship A350 to long-haul international service in the coming months,” the spokesperson added.

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British Airways’ Speedbird Pilot Academy opens for new applications

British Airways’ Speedbird Pilot Academy opens for new applications

On Tuesday, April 16, 2024, the airline will start the application window for its fully financed Speedbird Pilot Academy cadet programme, which will run for second year. 

This comes after an extraordinary response to its first year intake, where more than 20,000 applications were received for just 100 places. Aiming to level the playing field and remove the previously prohibitive cost barrier of individuals having to pay for their own training, the Speedbird Pilot Academy initiative is part of the airline’s £7 billion investment across the business.

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Simon Cheadle, Director of Flight Operations at British Airways, stated: “We’re quite proud to be able to give more people access to a career in aviation through this programme.”

“We are glad to provide this opportunity to many talented individuals who simply need a little assistance to fulfil their dream of becoming a commercial airline pilot. We know this from the tremendous response and high calibre of applications we had in the first year of Speedbird Pilot Academy.

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“Our investment in this programme will help to ensure our future generation of pilots for years to come. We want to continue attracting the best flying talent.” Candidates will be able to apply for up to 100 places on the programme – that will see the approximate £100,000 cost of their training covered entirely by the airline – through the British Airways careers site from April 16, 2024.

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