Alitalia (AZA, Rome Fiumicino) has resumed full control of its MilleMiglia frequent flyer programme as part of its ongoing divorce from current 49% stakeholder Etihad Airways (EY, Abu Dhabi International).
In a statement, Alitalia said it had reached an agreement with Etihad's Global Loyalty Company LLC wherein the carrier will acquire the latter's 75% stake in MilleMiglia's holding firm, Alitalia Loyalty S.p.A. Alitalia itself owns the remaining 25%.
"Loyalty’s return to Alitalia’s hands will assist the airline to better exploit all of its corporate assets. It is treated, in fact, as a fundamental business unit that is critical for an airline whose most important goal is passenger satisfaction. Indeed, we are committed to immediately providing an even more customised loyalty programme," Daniele Discepolo, Alitalia’s Special Commissioner and Alitalia Loyalty’s Chairman, said.
The value of the transaction was not disclosed although Etihad acquired its 75% stake from Alitalia in 2015 for EUR112.5 million euro (USD130 million).
The return of MilleMiglia to Alitalia's outright control comes after the carrier relaunched its Alitalia Cargo brand in March following the termination of its partnership with the Etihad Global Cargo Management Company (EGCMC).
Italy's new far-right leadership has also pressed for the return of five London Heathrow slots which Etihad acquired from Alitalia for EUR60 million back in 2014. The slot pairs were then leased back to Alitalia on an arm’s length basis.
