Italian carrier joins the transatlantic joint venture
On Monday, the airlines have given the statement that Alitalia, the Italian carrier, is ready to join the Air France-KLM and Delta Air Lines Joint Venture, enabling the alliance access to the 3rd biggest market of Europe.
The joining of Alitalia represents the venture with a total transatlantic capacity of 26pct and over $10 billion of annual revenues. As a part of the agreement, it joins as of April 1, running until at least March 31, 2022.
Alitalia, in which 25 percent of stakes are held by the Air France-KLM, went bankrupt in the year 2008. But by the private investors of Italy, it has been relaunched in the last year, after years of struggling with inefficiencies and strikes.
Rocco Sabelli, the CEO, has said to the news conference that Alitalia’s new start was difficult as it has experienced low occupancy rates and flight delays but still it has shown a strong improvement with the revenues increasing 10%, in the first half of the year. He also denied the rumor of buying of the Italian airline by the Air France-KLM. He also claimed that no plans are made by the airlines to raise the capital again, in the coming days.
Alitalia an Italian airline, is the world’s 19th largest airline as per the fleet size, serving nearly 27 domestic and 53 international destinations in over 38 countries. MilleMiglia is its frequent flyer program, which allows and redeems the passengers with free tickets across the whole alliance while granting access to Alitalia’s privileged clubs. This MilleMiglia program also offers major car rental companies of international networks, renting car hires at special rates.