Commencing services in early 2012, it became Europe's first private open access operator of 300km/h (190mph)high-speed trains. NTV was created in 2006 as a privately owned high-speed rail operator. In January 2008, the company ordered 25 AlstomAutomotrice à grande vitesse (AGV) trainsets, which formed NTV's initial fleet. Despite intentions to begin services in late 2011, the launch of passenger operations was postponed to April 2012 due to lengthy certification processes. On 28 April 2012, NTV conducted its first service. In its first year of operation, 2 million passengers used NTV's trains. By 2016, annual ridership reached 11 million,[5] taking market share from competing airlines and state-owned incumbent Trenitalia. Further trainsets of Alstom's Pendolino family have also been procured, as well as coordination with bus operators, as measures to expand NTV's service coverage.
The headquarters of NTV is located in Rome. Since April 2018, the company is majority owned by the infrastructure equity investment fund Global Infrastructure Partners.[6] As of 2024, the company covers routes to 54 cities within Italy.[7]
The French railway operator SNCF owned 20% until 2015 when it refused to participate in a capital increase and preferred to liquidate its shareholding in 2015.[8][9] In October 2023, Mediterranean Shipping Company (MSC) acquired a 50% stake in Italo. Before that, the shareholding structure was as follows:[10]
72.6% GIP III GLOBAL INVESTMENT S.A.R.L.
11.5% Allianz S.P.A., of which 10% via ALLIANZ INFRASTRUCTURE LUXEMBOURG S.A.R.L.[11]
For the performance of its services, commercially promoted under the name Italo, NTV deploys the AGV 575, commissioned to Alstom in 2008, and the electric train NTV ETR 675, also committed to Alstom in 2015 and which from 7 December 2017 - following the change of the railway timetable - gradually enter in service. The Italo services travel both on dedicated high-speed lines and on conventional lines, and compete on the market with the Frecciarossa and Frecciargento trains of Trenitalia.[citation needed]
Service concept
Club Executive Class aboard an Italo AGV trainset.
Italo offers three classes of service aboard its trains:[12]
Smart Class - standard 2x2 seating without additional amenities
Prima Business Class - wider seats in a 2x1 layout, snack service and fast track access
Club Executive Class - large armchair seats with individual entertainment screens, additional catering, fast track and access to Italo Club lounges at major stations
Free Wi-Fi is available in all areas.[12] In addition to the aforementioned catering, there are food and drink vending machines aboard all trains.[13]
Routes
Routes served by NTV are those of the Italian high-speed rail network.[14] As of 2024, the network consists of several routes, for a total of over 90 daily trips serving 54 cities and 62 stations:[7]
The company was created in 2006 by Luca Cordero di Montezemolo, Diego Della Valle, Gianni Punzo and Francesco Sciarrone to compete on Italian high-speed rail operator given the liberalization of the railway sector in the European Union.[15] The company was launched with an initial investment of €967 million, €625 million of which was spent on rolling stock.[16] NTV's shareholders took on significant risk in their startup as Italy was the first country in the world to open its high-speed rail market to competition.[17]
In January 2008 NTV changed its corporate structure with the entry of Intesa Sanpaolo, followed in October of the same year by the Société Nationale des Chemins de fer Français (SNCF); in the same year the railway company ordered to Alstom the construction of twenty-five trains of the Automotrice à grande vitesse (AGV) type, which were built in the plants of La Rochelle and Savigliano.[18]
In early 2010, NTV stated its intention to start services in late 2011, following the certification of its trains in mid-2011.[19] In March 2011, the company publicly complained that the Italian rail infrastructure manager, Rete Ferroviaria Italiana (RFI), was obstructing its plans to run trains by making last-minute changes to network statements, as well as questioning the legality of its access charges. RFI is controlled by the same government group that controls Trenitalia, the incumbent provider of passenger train services in Italy.[20] Later that year, it was reported that the launch date had been delayed into 2012; this was reportedly due to the project's complexity.[21]
According to industry consultant Andrea Giuricin, NTV found it difficult to obtain technical approval and safety licences to operate its new fleet of Alstom-built Automotrice à grande vitesse (AGV) trains; Giuricin also acknowledged the establishment process as being quite complex in general.[17] Italy needed to refine its regulatory structures so that private rail operators could achieve a level playing field.[16] Disputes over access to both station facilities and train paths were symptomatic of NTV's early years.[16] In October 2013, the Italian Competition Authority determined that both Trenitalia and RFI had made deliberate efforts to exclude NTV. A suitable independent regulator of the Italian rail industry was not established until late 2013.[16]
Routes of NTV
On 28 April 2012, NTV conducted its first service, which it launched under the .italo brand.[22][23] This branding has been applied to other services provided by the company, such as its loyalty card.[16] In its first year of operation, NTV claimed its ridership to have been 2,051,702.[24]
According to rail periodical Railway Gazette, NTV was initially challenged to achieve a viable return on investment until passenger numbers increased.[17] Ridership increased in the following years, carrying 9.1 million passengers in 2015, having attained a load factor of 71.5%. By this point, NTV was operating 56 trains daily.[25] In October 2012 there was a change of leadership: Montezemolo left the office of president while remaining a shareholder of the company, while Vincenzo Cannatelli resigned as vice president, remaining within the board of directors. The presidency was succeeded by Antonello Perricone, who since October 2, 2013, is also CEO, following the resignation of Giuseppe Sciarrone. [26]
During 2015, NTV then-CEO Flavio Cattaneo launched a strategic turnaround initiative, aimed at improving its operations.[17] In 2016, passenger numbers increased again, reaching 11 million.[5] To expand accessibility to its services, NTV has coordinated with bus operators to expand its catchment area to cover towns not directly served by high-speed rail.[17]
That same year, NTV attained its fiscal break-even point for the first time, becoming profitable thereafter.[16] According to Giuricin, NTV quickly became a profitable venture largely due to an efficient and innovative approach to the market; such measures include a high utilisation rate of its rolling stock, typically high load factors for services, and customer engagement efforts. Partially in response to NTV's presence, incumbent operator Trenitalia has also made changes to increase competitiveness.[17] In August 2018, RFI was fined €620,000 for anti-competitive practices favouring Trenitalia over NTV.[27]
In January 2018, it was announced 35-40% of NTV's shares would be listed on the Borsa Italiana.[28] However, in February 2018, the planned initial public offering was cancelled; instead, NTV's shareholders accepted the take-over offer from Global Infrastructure Partners for 100% of the company, which was then valued at €1.94 billion.[29][30][31][32] Dealing April 2018, the sale was finalised; several of the existing shareholders chose to participate in a capital increase for a joint shareholding of 7.74%.[33] That same year, the company was renamed Italo-NTV, which integrated the .italo brand present on its rolling stock.[17]
Italian ticket prices have fallen considerably since NTV's commencement of services in 2012; by 2019, the company had achieved a lower cost per available seat-km than most budget airlines, helping the company take market share from competing air routes.[17] Just as NTV's customer numbers grew rapidly in its initial five years, Italian demand for high-speed rail travel in general has doubled in the same time period.[17] Specifically, rail operators' market share of the Rome – Milan route has increased from 36% in 2008 to an estimated 80% in 2018, while airline's share has dropped from 50% to just 14% between the same dates.[16]
By the late 2010s, NTV was considering launching services outside of Italy; Luca Cordero di Montezemolo, the company's chairman, has stated that possibly future markets for the firm include Spain, Germany and the United Kingdom.[16] According to Giuricin, the future of such ambitions on the part of NTV and other private operators is dependent upon the establishment of an appropriate, stable, and clear regulatory environment, particularly in regards to track access charges.[16]
On 17 January 2008, it was announced by French industrial conglomerate Alstom that NTV had placed an order for 25 AGV trainsets, each having a length of 11 cars.[35] Alstom manufactured 17 AGVs at its La Rochelle plant in France, while the remaining eight trains were assembled at Savigliano in Italy.[36] The contract included maintenance of the fleet for 30 years, as well as an option to procure a further ten trains.[37] NTV unveiled the first of its trains in a ceremony on 13 December 2011.[38]
New Pendolino
In 2015, NTV announced the procurement of twelve additional trains (classified as ETR 675) to expand its fleet.[17] These additional units would be from Alstom's Avelia Pendolino family, the maximum speed of which being approximately 50km/h slower than NTV's existing AGVs. The procurement is intended to allow NTV to expand its existing Italo services, as well as offer services to new destinations.[39] On 3 October 2013, the first of NTV's Pendolino was publicly presented at the Expo Ferroviaria exhibition in Milan, by which point the trainset was participating in certification trials ahead of entering passenger service.[40] Further Pendolinos were ordered by NTV; as of October 2019, the company operates a fleet of 25 AGVs and 26 non-tilting Pendolinos (ordered by exercising contractual options).[41][17]
Italy has a well developed transport infrastructure. The Italian rail network is extensive, especially in the north, and it includes a high-speed rail network that joins the major cities of Italy from Naples through northern cities such as Milan and Turin. The Florence–Rome high-speed railway was the first high-speed line opened in Europe when more than half of it opened in 1977. Italy has 2,507 people and 12.46 km2 per kilometer of rail track, giving Italy the world's 13th largest rail network. The Italian rail network is operated by state-owned Ferrovie dello Stato, while the rail tracks and infrastructure are managed by Rete Ferroviaria Italiana.
Pendolino is an Italian family of high-speed tilting trains used in Italy, Spain, Germany, Poland, Portugal, Slovenia, Finland, the Czech Republic, Slovakia, the UK, the US, Switzerland, China, and Greece. It was also used in Russia from December 12, 2010 until March 26, 2022. Based on the design of the Italian ETR 401, it was further developed and manufactured by Fiat Ferroviaria, which was taken over by Alstom in 2000.
Trenitalia SpA is the primary train operator of Italy. A subsidiary of Ferrovie dello Stato Italiane, itself partly owned by the Italian government, the company and partly from a private investors group. It was established in 2000 following a European Union directive on the deregulation of rail transport.
Rete Ferroviaria Italiana (RFI) is the Italian railway infrastructure manager, subsidiary of Ferrovie dello Stato (FS), a state-owned holding company. RFI is the owner of Italy's railway network, it provides signalling, maintenance and other services for the railway network. It also operates train ferries between the Italian Peninsula and Sicily.
Bologna Centrale is the main railway station in Bologna, Italy. The station is situated at the northern edge of the city centre. It is located at the southern end of the Milan-Bologna high-speed line, which opened on 13 December 2008, and the northern end of three lines between Bologna and Florence: the original Bologna-Florence line through Porretta Terme and Pistoia; the Bologna–Florence Direttissima via Prato, which opened on 22 April 1934 and the Bologna-Florence high-speed line, which opened to traffic on 13 December 2009.
The Italian railway system is one of the most important parts of the infrastructure of Italy, with a total length of 24,227 km (15,054 mi) of which active lines are 16,723 km (10,391 mi). The network has recently grown with the construction of the new high-speed rail network. Italy is a member of the International Union of Railways (UIC). The UIC Country Code for Italy is 83.
The New Pendolino is a class of high-speed tilting trains built by Alstom Ferroviaria for Trenitalia and Cisalpino.
The AGV is a standard gauge, high-speed, electric multiple-unit train designed and built by Alstom.
Milano Rogoredo is a railway station in Milan, Italy. It is one of the key nodes of the Milan suburban railway service as the southern gate of the Milanese urban network.
High-speed rail in Italy consists of two lines connecting most of the country's major cities. The first line connects Turin to Salerno via Milan, Bologna, Florence, Rome and Naples, the second runs from Turin to Venice via Milan and Verona, and is under construction in parts. Trains are operated with a top speed of 300 km/h (190 mph).
The Rome–Naples high-speed railway line is one of the railways in the Italian high-speed rail network. Initially opened in December 2005, it is the first railway line in Italy to be electrified at 25 kV AC and the first in the world to use ETCS Level 2 in normal rail operations.
Frecciarossa is a high-speed train of the Italian national train operator, Trenitalia, as well as a member of the train category Le Frecce. The name was introduced in 2008 after it had previously been known as Eurostar Italia. Frecciarossa trains operate at speeds of up to 300 km/h (190 mph). Frecciarossa is the premier service of Trenitalia and competes with italo, operated by Nuovo Trasporto Viaggiatori. Trenitalia also operates the sister brands Frecciargento and Frecciabianca for slower services.
Flavio Cattaneo is an Italian manager, non-executive vice president of Italo - Nuovo Trasporto Viaggiatori, the first private company operating high-speed trains in Europe, and member of the board of Assicurazioni Generali. He is CEO and General Manager of Enel and vice chair of Endesa.
Padova railway station, or Padua railway station, sometimes referred to as Padova Centrale, is the main station serving the city and comune of Padua, in the Veneto region, northeastern Italy.
Brescia railway station is the main station of Brescia, in the region of Lombardy, northern Italy. The station, opened in 1854, lies on the Milan-Venice railway and is a terminus of three branch lines: Valcamonica Railway to Edolo, Bergamo–Brescia railway and Brescia–Piadena/Cremona railway which branches off towards southeast of the station.
Piacenza railway station serves the city and comune of Piacenza, in the region of Emilia-Romagna, northern Italy. Opened in 1859, it forms part of the Milan–Bologna railway, and is also a terminus of two other railways, the principal line to Alessandria and the secondary line to Cremona.
ETR 500 is a family of Italian high-speed trains built by AnsaldoBreda and introduced in 1993.
The Frecciarossa 1000, is a high-speed train operated by Italian state railway operator Trenitalia and the private Spanish high-speed rail operator Iryo. It was co-developed as a joint venture between Italian rail manufacturer Hitachi Rail Italy and multinational conglomerate Alstom. Both design and production work were divided between the two partner companies.
Reggio Emilia AV Mediopadana is a high speed railway station in Reggio Emilia, Italy. The station is located on the Milan–Bologna high-speed railway and Reggio Emilia-Guastalla railway. The train services are operated by Trenitalia, Nuovo Trasporto Viaggiatori and Ferrovie Emilia Romagna.
Le Frecce is the high-speed rail train category operated by Trenitalia in Italy under overall three brand names.
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€413.5 million [2] (2020)
€3,243.9 million [2] (2020)
