AIP Capital, ITA Airways Complete Debt Financing

DALLAS — Today, AIP Capital announced the completion of a US$240 million debt financing for a wholly-owned ITA Airways (AZ) subsidiary. The operation is secured by three of the airline’s latest A330-900s. The capital will allow the once unstable AZ to strengthen its financial position. 

The news comes a month after the European Commission's competition authority accepted the planned acquisition of 41% of Deutsche Lufthansa AG (LH) in AZ, subject to specific requirements but set to be completed in Q4 2024.

With its brand name intact, AZ will now become the fifth network airline to be deeply integrated within the Lufthansa Group.

Comments from AIP Capital, ITA Airways

 “This agreement represents a milestone in the expansion of ITA’s new-generation fleet,” said Antonino Turicchi, Chairman of ITA, “and aligns with ITA Airways’ strategy of flanking shareholder equity with a balanced contribution of debt capital.

The Italian Chairman added, "This transaction is another important stride forward in ITA Airways’ growth strategy, and it has been possible thanks to increasing credibility with banks and investors, which was acquired through the positive performance recorded in 2023 and in the first half of 2024. We are pleased with the trust provided to us by the AIP Team.”

“We are proud to deepen our partnership with ITA Airways by providing a bespoke financing solution to support ITA’s fleet modernization,” said Michael Kittle, Managing Director and head of Private Credit at AIP Capital. 

“This transaction is a testament not only to our shared mission of fostering more sustainable air travel, but to AIP’s expertise in structuring innovative, scaled, capital solutions for our airline customers globally.”