Fusioni & Acquisizioni

✈ Sandro Pappalardo, newly appointed president of Ita Airways, is reviewing the company's industrial plan, aiming for break-even currently and assessing fleet and staff changes starting from 2026. Ita Airways' revenue has grown 27% to €2.7 billion, with an 81% overall load factor and a 20% increase in passengers to over 18 million. The Italian government holds 59%. Pappalardo emphasizes collaboration with Lufthansa and long-haul routes, which account for 50% of revenue with an 84% occupancy rate. Changes to the industrial plan will be announced before summer.

🛫 Alitalia's logo, acquired by Ita for €80 million, is set to re-emerge on the global stage, as confirmed by both the Italian Government and partner Lufthansa. Ita's President Sandro Pappalardo, despite unclear plans for the old brand, along with new CEO Joerg Eberhart, aims to enhance the airline's value. Ita will transition from Skyteam to Star Alliance, concluding its affiliation with Skyteam by the end of May. The move is expected to aid in reaching break-even by leveraging the new alliance's potential for growth in long-haul routes.

🏖️ Kel 12, a tour operating brand, acquires Il Tucano Viaggi Ricerca, a Turin-based operator specializing in cultural travel. Aimed at strengthening Kel 12's position in cultural tourism, Il Tucano maintains its Turin office and team. CEO Gianluca Rubino emphasizes strategic value and commitment to quality offerings with unique itineraries. Il Tucano was founded in 1968 by Willy Fassio, starting with expeditions in the Amazon along the Orinoco River.

🌎 Europa World launches its first monographic catalog showcasing the "new Tunisia" as a safe and culturally rich destination. From January 1, 2025, all travelers to Tunisia must have a passport valid for at least three months. The catalog covers the March 2025/2026 season, offering trips for groups of 2 to 25 people and individual travels. It includes various tours like "Tunisia oases and Roman cities" (8 days) and "Mini tour of the Sahara Desert and surroundings" (6 days). Tunisair and Ita Airways help limit market price increases, currently around 10%. Noteworthy is Marco Peci, Quality Group's Commercial and Marketing Director, highlighting the desert's ancient culture covering 40% of Tunisia and the reopening of the Bardo Museum in Tunis. The new itineraries from Europa World also include multidimensional experiences, with extended departure calendars and travel times under three hours. Two fam trips and thematic events are planned to increase Tunisia's tourism numbers within three years.

💰 Unipol Group is considering selling its hospitality branch, UNA Hotels, for an estimated value of around €1 billion. Advised by Goldman Sachs, the potential sale will involve selected invitations to bidders, with interest expected from both domestic investors and international entities. Blackstone, Starwood Capital, and Sixth Street are among the named potential offerents, with expressions of interest anticipated shortly.

🏨 Minor Hotels plans to open nearly 300 new hotels in the next three years, reaching a total of 850 properties. Already boasting over 560 properties and 81,000 rooms globally, their expansion includes 47,000 new rooms. Focused on market diversification, with more than 50% in Europe, the group will add over 100 properties in Asia, 60+ in the Middle East and Africa, and 40 in Australia and New Zealand. Strategic markets include North America and Northern Asia with key emerging markets like Morocco, Egypt, and Turkey. The luxury and upscale segments drive growth, with one-third of new openings in luxury brands like Anantara, Tivoli, and Elewana Collection. By 2025, Minor Hotels will launch two new brands and emphasize branded residences in over a dozen countries. Their expansion plan comprises 38% conversions and advanced projects, while the rest are new developments. The group's "asset-right" model aims to balance ownership with leasing, management, and franchising, targeting a 50% balance by 2027, with over 90% of new development projects under management contracts or franchising.

🏨 Aena will invest over one billion euros in the Canary Islands' airports for modernization during 2027-2031, focusing on Tenerife South, Tenerife North, and Lanzarote airports. This surpasses the current plan's 300 million euros. Projects for tender will be developed by the end of the year. Tenerife South is notably the most advanced in preparation. The investment aims to integrate island and international terminals, responding to calls for local input in airport decisions as per the Autonomy Statute.

🏖 Prince Karim Al-Hussaini, Aga Khan IV, linked with the luxury tourism destination Costa Smeralda, died in Lisbon at 88. In 1962, he bought 1,800 hectares in Sardinia, founded Alisarda, now Meridiana, which later failed. He built Olbia airport and Yacht Club Costa Smeralda in 1969, and took over Ciga Hotels Spa in 1985, which struggled and was sold to Sheraton in 1995. Awarded by Italian Presidents and Queen Elizabeth II, he was honored in 1977, 1988, and received a title in 1957.

📍 Cathay Pacific is investing over 100 billion Hong Kong dollars (over 1 trillion euros) by 2032 to revitalize its passenger experience, with premium materials and technology. The new Aria Suite for the B777 is part of the upgrades. Flights to Milan will occur daily, and Rome's seasonal flight is reopening. The focus on the European market relates to high load factors and margins, with key hubs in London, Paris, and Munich. The Italian market is promising due to Asia's interest in Rome, especially during the Jubilee, and Milan's trade and fashion connections. There are hopes to make Rome's seasonal flight a regular service.

🛫 Intrepid Travel expands in Europe by acquiring Dutch operator Sawadee Reizen from Travelopia for €60 million, aiming to boost experiential tourism. This deal ranks the Netherlands among Intrepid's top five markets, alongside Australia, the United States, and the United Kingdom. CEO James Thornton emphasizes the merger's alignment with Intrepid's mission to become the world's largest vertically integrated experiential travel company.