AeroItalia Strengthens Regional Presence with MoU to Acquire Majority Stake in AirConnect

Rome Fiumicino-based AeroItalia has formally announced the signing of a Memorandum of Understanding (MoU) for the acquisition of a significant 93.86% stake in Romania’s AirConnect, headquartered in Bucharest Baneasa. The move solidifies the existing partnership between the two airlines and substantiates earlier speculations regarding AeroItalia’s interest in a strategic investment.

AeroItalia’s President, Marc Bourgade, expressed enthusiasm about the acquisition, emphasizing its potential to enhance the airline’s position in the Italian regional market. He stated, “The acquisition finalized today will allow AeroItalia to strengthen its presence in the Italian regional market and will strengthen our feeder capacity towards our Rome Fiumicino hub.”

However, a representative from AirConnect revealed to ch-aviation that negotiations for the sale and purchase of shares are still ongoing. The spokesperson explained that specific details, including any potential impact on AirConnect’s business model, would only be disclosed after the completion of the share transfer.

The undisclosed sum for the acquisition is expected to be paid to Iulian Bogdan Năstase, a former lawyer at Blue Air (Romania), who currently holds a majority of AirConnect’s shares. These shares were reportedly acquired in stages over the past few months from various entities, including Florin Necula, Tudor Zamfir Constantinescu, Regional Air Suport SRL, Spark Capital Systems SRL, Karpaten Outgoing SRL, and Pop Cosmin. A legal challenge to the sale by Alin Crețu, who owns the remaining 6.14% stake, added a layer of complexity to the transaction earlier this year.

AirConnect, incorporated in 2021 and launched in 2022, faced a RON21 million Romanian lei (EUR4.2 million) net loss in the previous fiscal year. The airline, which currently operates two ATR72-600s exclusively on routes out of Ancona on behalf of AeroItalia, expressed plans to expand its fleet with additional ATR72-600s in 2024 to resume in-house scheduled operations.

AeroItalia, operating six B737-800s, further complements its fleet with a B737-700 from Hello Jets (Bucharest Henri Coanda) and a DHC-8-Q400 from Sky Alps (Bolzano/Bozen) on a long-term basis. This strategic acquisition aligns with AeroItalia’s broader vision for expansion and market consolidation.