Italian-Swiss shipping behemoth, MSC (the owner of MSC Cruises) and Lufthansa, are in the process of making a joint bid for a controlling stake in the Italian government-owned ITA, the successor to Alitalia.

MSC and Lufthansa have sought a 90-day exclusivity period to review ITA’s financial data.

Lufthansa is Europe’s largest airline by aircraft numbers, and a powerful player in the European economy. It has many subsidiaries, including SWISS, Eurowings, Austrian Airlines, Brussels Airlines and Edelweiss.

MSC Group is the largest in the world. It encompasses container shipping and logistics operations, including the use of leased freighter aircraft. MSC released a statement on January 31 saying the acquisition would exploit efficiencies in both passenger and cargo. A deal would allow MSC to move into air freight, which surged in profitability during the pandemic.

Alitalia first entered bankruptcy in 2008. Created in 1946, the airline managed to retain its status as the quintessentially Italian iconic brand, despite many years of non-profitability and labour turmoil. As Alitalia operated its last flight in October 2021, ITA launched on capital of €700m (R1,23bn) which it used to buy assets from Alitalia – 52 aircraft, contracts and some slots (85% of Alitalia’s slots at Linate Milan and 43% of Alitalia’s slots at Fiumicino, Rome). Alitalia’s staff of 11 000 were reduced to a complement of 2 800 in ITA's aviation unit.

Analysts have commented in various media that, following what airlines have endured during the COVID-19 crisis, it is likely there will be a period of airline consolidation as the new, post-pandemic global economy becomes clearer.