«Italo? The possible synergies between trains and cruises are evident. For us it was an opportunity that we couldn’t miss.” Pierfrancesco Vago, 62 years old, executive president of MSC Cruises and son-in-law of Gianluigi Aponte having married his daughter Alexa, is in Genoa in his capacity as global chairman of Clia (the international association of the cruise sector), to present the “Clia European Cruise Week which will take place in the first Italian port from 11 to 14 March. However, it does not escape questions about the acquisition of the private high-speed train company by the Geneva-based shipping group. A giant that employs 180 thousand people in the world, with 675 offices in 155 countries, with 760 container ships calling at 520 ports on more than 260 trade routes, transporting approximately 23 million TEUs (units of measurement of twenty-foot containers) every year. Last year Mediterranean Shipping Company Holding achieved 86.4 billion euros in aggregate consolidated revenues, with a net profit of 36.2 billion and an ebitda of 43.2 billion.
You paid a whopping 2 billion for 50% of the company. So was it worth it?
«Nuovi Trasporti Viaggiatori, which controls the Italo brand, is a company that has been managed very well, which is bringing important results. We are satisfied with the investment made.”
What plans do you have now?
«New investments are expected in the relationship with the other partners. There are certainly opportunities to create important synergies with us: with passenger mobility, first of all. But also with goods, also because we are already doing a lot with goods by rail.”
Rail-cruise, a closer link than air-cruise?
«More and more, we also see it in other European countries: short and medium-range flights are increasingly being replaced by the convenience and probably also by the lower environmental impact of rail transport. There is a logic: in the 20 ports in southern Europe that MSC Cruises covers with the calls of its ships, we want to offer passengers the possibility of embarking ever closer to home, in the Mediterranean and in the Adriatic, using the railway, which is convenient and helps the distribution of passengers when boarding at airports and for different itineraries.”
The Italo operation has just been closed pending the green light from the European regulatory authorities, but there is already talk of new possible acquisitions…
“It’s normal, the MSC group is in excellent health, its debt is absolutely under control and its liquidity is enviable, it makes significant profits and the banks are competing to offer us credit and offer us business.”
Alpitour, which controls among other things the Neos airline specializing in charters, is for sale, are you interested?
«Personally I am sceptical. But if they were to contact us, we would take a look at it. Just as we continually do with the proposals we receive. Which doesn’t mean that the business then happens.”
And the Tap? The Portuguese government wants to reprivatise its national airline…
«I read about Tap. We are investing in aircraft, especially in cargo. But it is still too early to say anything: the Portuguese government’s announcement has just been made.”