MSC has acquired the majority stake in AlisCargo Airlines, a Milan-based air freight carrier.

In a joint statement, MSC and AlisCargo noted that the parties confirmed that the transaction is a first step towards the acquisition of 100% of AlisCargo Airlines by MSC, expected to happen at the beginning of 2024, once AlisCargo Airlines will restart operations with the delivery of a Boeing 777F.

MSC Air Cargo expansion

"This transaction is yet another step to further developing MSC Air Cargo operations and creates a European gateway and transit point for MSC’s air cargo solutions," the ocean carrier said of its acquisition of the Italian cargo airline.

It added that, furthermore, the deal complements MSC Air Cargo's aim to expand its existing trade lane network with better coverage and increased flexibility.

"The acquisition of a majority share in AlisCargo Airlines is a step towards expanding MSC's Air Cargo solution capabilities and ultimately providing our customers with a quality and consistent offering," said Jannie Davel, senior vice president at MSC Air Cargo.

"I am equally proud that we have found a partner that shares a common vision with us and has built a strong foundation for which we hope to further develop," Davel added.

The majority selling party is represented by the Leali Group, led by Domenico Alcide Leali, who, after the success with Air Dolomiti, started AlisCargo Airlines in 2019.

"I am proud to see a group like MSC entering as a major shareholder of AlisCargo Airlines and developing further the project that Leali Group has initiated. I am thankful for MSC's trust in us, and we will work hard together to make it a success story," Giacomo Manzon, general manager of AlisCargo Airlines, said of the acquisition. 

MSC Air Cargo has been building up its air cargo offering through numerous strategic partnerships with sales agents and software providers.

It noted that MSC Air Cargo provides a "complementary solution" to MSC's core shipping services and operates two aircraft managed by Atlas Air Worldwide between Europe, Central America and Asia and will add two more in the next 6 months.

Following the completion of the operation, MSC Air Cargo will have a new operating license and a fleet of 5 wide-body aircraft within the next 12 months.

The announcement said Banca Finint acted as financial advisor to Leali Group. Gianni & Origoni acted as legal advisors to MSC and Leali Group, with two separate teams of lawyers from its Milan and Padua offices, respectively.