Tourism, MSC's big maneuvers to become a single transport chain

Big maneuvers between sky, land and sea. Mediterranean Shipping Company, a group better known by the acronym Msc, of which the cruise division is a part, is in fact trying in recent months to close the circle that would lead it to become one an integrated transport chain that would accompany tourists from train to plane, from ferry to ship cabin. The group founded by Gianluigi Aponte is interested in buying Ita Airways, what remains of the former Alitalia, and also NTV, the Italo train company: operations that would allow the Neapolitan shipowner living in Switzerland, considered the 42nd richest man in the world by Forbes magazine, to create those synergies with the tourist at the center that are unique on the international scene.

Started with cargo shipping, where it is now the world leader in container shipping with its main hub in Amsterdam, the Group today includes Msc Crociere, the ferries and hydrofoils SNAV, Grandi Navi Veloci and Caremar, the rail passenger and freight company Medway (already active in Switzerland, Austria, Germany, Belgium and the Netherlands) and the Bluvacanze travel agency network. At the moment on both fronts, the distance to close a deal seems to have increased, but Msc’s top management is not giving up. In fact, the president of Msc Cruises, Pierfrancesco Vago, in an interview with the Swiss magazine Handelszeitung on September 19 (reported in Italy by the Repubblica website) states that "The last word is not yet said. In any case, we are still interested in acquiring a stake in an airline. If it does not work with Ita, it could work with another carrier. The transaction would allow us to offer our customers a seamless travel experience. A service that would extend from the front door to the cabin door of one of our ships."

The Ministry of Economy and Finance, Ita’s shareholder who is looking for a party to which it will cede control of the company, decided to negotiate “exclusively with the consortium formed by Certares Management LLC, Delta Airlines Inc. and Air France-KLM S.A., whose offer was deemed most responsive to the objectives set by the DPCM. At the conclusion of the exclusive negotiations, binding agreements will be signed only if the contents are fully satisfactory to the public shareholder.” MSC and Lufthansa therefore stand at the window awaiting the outcome of the negotiations, not wanting to abandon the project that between the two aimed to develop business in air cargo in parallel with sea cargo while supporting cruise shipping. “Apparently, a path has been chosen that involves greater state influence and not a complete privatization of ITA,” this is Lufthansa ’s prickly reaction after the Mef press release. For its part, Msc is not giving up the idea of controlling an airline and is reportedly eyeing the privatization of Tap, the Portuguese airline.

According to Reuters, in fact, the offer would leave the Italian government with a 40 percent shareholding with the right to appoint the company’s president and to exercise a veto over certain “strategic choices.” The submission of proposals had been made in April. Msc’s strategy, however, looks beyond that, and according to rumors gathered by Corriere della sera to ships and planes they would like to expand into the Italian rail sector: the goal would be Italo, going to integrate with the Group’s other company in the sector, Medway, already authorized to operate in Switzerland, Austria, Germany, Belgium and the Netherlands. The figure being reasoned about would be around 7 billion euros. On the other hand, the Aponte family’s Italian-Swiss group has estimated annual revenues of as much as 30 billion euros.

Being present in air, rail, connecting maritime (ferries) and cruise transport would make it the world’s largest intermodal logistics group. Msc in Italy counts among its subsidiaries cargo shipping companies, ferry companies, port terminals, maritime and tourism agencies, tour operators, railway companies, technology and cybersecurity hubs

And it was just a few days ago that a memorandum of understanding was announced with Ferrovie dello Stato to “verify the possibility and mutual interest in implementing a commercial and operational partnership project aimed at the development of combined maritime transport.” We will see how things turn out in a game on which much is at stake regarding the quality of the travel experience in an increasingly demanding tourism, but what is determined is the outcome of the political elections. Giorgia Meloni and her Fratelli d’Italia have repeatedly spoken out against the privatization of Ita Airways, and the Certares-Air France-Ktml fund proposal has an advantage over the Msc-Lufthansa proposal in that it would leave a major share of the shareholding to the Italian state with the consequent ability to influence choices by the government.

Tourism, MSC's big maneuvers to become a single transport chain

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