Air Dolomiti Expands at Milan Linate, Phases Out Montichiari Operations
Air Dolomiti is growing, celebrating ten years in operation and preparing to take off from Linate and Piazza Affari, but is leaving Montichiari behind. The company, which is 60% owned by the Leali family and 26% by Lufthansa, has already scheduled its last flight from D’Annunzio Airport for March 24. This decision removes all domestic flights from the Brescia-based airport. Founded in 1991, the company is not leaving any room for expansion, at least for now. Future developments remain focused on Verona Villafranca, the airport that has always been its main hub, and on Torino Caselle. The newest energies will be directed toward the new challenge at Milano Linate, where, thanks to the recent Bersani decree, a daily connection to Berlin will be active starting Sunday. This means Montichiari is no longer within the Brescia company’s operational scope.
Decisions on the Route Network
“The connection to Sardinia,” explains Alcide Leali, president of Air Dolomiti, who presented the 2000 results and future goals in Milan, “was originally a seasonal service that was destined to end. The Rome route falls outside our target market. Our vocation,” Leali adds, “is for international business traffic. Domestic flights for Air Dolomiti account for only 4% of the total.”
“This is not a abandonment,” Leali clarifies, aware of the controversy the decision has sparked in the province, “but the completion of a phase that was always intended to conclude. I hope, in fact, that others will decide to carry it forward.” Therefore, a return to Montichiari is impossible…
“If there is an opportunity to include D’Annunzio in an international strategy, it will be evaluated. Today, for the Company, it is not a strategic connection.” Consequently, after the change, there are two points of arrival in Milan: Linate and Piazza Affari.
The recent development announced yesterday is the acquisition of slots at Linate Airport, which, according to Leali, “opens enormous growth opportunities for an airline with a focus on business travel, such as our carrier.” From the Milan hub, Air Dolomiti has already scheduled for the summer season two very promising routes from a passenger traffic perspective: Vienna and Berlin, with three and two flights daily, respectively. Currently, this choice does not alter existing operations, but the airline does not exclude reconsidering future operations at Orio al Serio. In practice, these two airports could become competitors.
Development Plan and Stock Market Listing
The three-year strengthening plan also includes Torino and Verona, and involves expanding the fleet (currently composed of 15 owned turboprops and one jet under wet lease) to include Canadair jets. Another goal is a listing on Piazza Affari (the Milan Stock Exchange). The decision to go public has already been made, coinciding with the company’s tenth anniversary—almost a celebration of its first decade. “It’s a great satisfaction,” says Leali, “because we have achieved all the objectives we set ourselves.”
The timeline for debuting on Piazza Affari is not yet defined, as necessary authorizations are awaited, but it is expected to happen by 2001. The shares will be listed on the main market. “We are not an emerging group,” emphasizes Alcide Leali, “but a company with a solid history.” The offering will be managed by Banca Imi. The market will see a capital increase of about 20%, along with residual shares held by current shareholders (around 5%). The holdings of the two main partners—Leali and Lufthansa—will decrease proportionally.
The resources raised through the offering will allow the airline to consolidate its positions after the first ten years and lay the groundwork for further growth. Alongside positive revenues, Air Dolomiti will introduce a new fleet of 16 aircrafts, including the first of six Canadair Bombardier jets, the new challenge at Linate, and the aim of remaining Italy’s leading regional airline with an international focus.
The secret to this growth? “Above all,” concludes Alcide Leali, “the Brescia roots.”
