A “wholly owned subsidiary” of Eta Airways (AZ, Rome Fiumicino) has received $240 million in private equity financing from AIP Capital. announced
In a statement on August 29, ITA Airways President Antonino Torrici called the deal another step in the airline’s expansion strategy, reflecting improved creditworthiness with banks and investors.
He said: “This agreement represents an important milestone in the expansion of ITA Airways’ new generation fleet” and is in line with the strategy of combining equity with a balanced share of debt capital. This transaction represents a step forward in our growth strategy, made possible by increased credit with banks and investors, thanks to the positive performance recorded in 2023 and the first half of 2024.
Michael Keitel, managing director and head of private credit at AIP Capital, explained that the arrangement was “a suitable financing solution” to support ITA Airways’ fleet renewal. The firm specializes in alternative investments in the aviation sector with offices in Stamford (UK), Dublin and Singapore.
Since starting operations in October 2021, ITA Airways has made significant progress in modernizing its fleet, which now consists of 58% new generation aircraft, resulting in a 25% reduction in fuel consumption and CO2 emissions, the statement said. is
ITA’s 104-aircraft all-Airbus fleet includes 11 A330-900Ns with six others. Nineteen A320-200Ns will be delivered with 13 more. Six A321-200NX(LR) with three more planned. And six A350-900s plus two more will be delivered. The rest of the fleet consists of seven A220-100s with five others. Nine A220-300s will be delivered with seven more. Thirteen A319-100, twenty-six A320-200 and seven A330-200.