ITA Airways may be sold to Lufthansa
2023.01.18 13:43
ITA Airways may be sold to Lufthansa
By Ray Johnson
Budrigannews.com – Lufthansa, a German airline, said on Wednesday that it had offered to buy a minority stake in ITA Airways, Italy’s state-owned Alitalia replacement.
Lufthansa noted Italy’s significance as a business and tourism destination as the most important market outside of its existing domestic markets and the United States.
Lufthansa already operates Swiss, Austrian Airlines, and Brussels Airlines in addition to its domestic German business.
Lufthansa stated in a statement, “The plan is to agree on the initial acquisition of a minority stake as well as on options to purchase the remaining shares at a later date.” The airline also stated that it hoped to sign a Memorandum of Understanding with the Italian Economy Ministry and then proceed to exclusive discussions.
Air France KLM (OTC:) and the US private equity fund Certares participated in talks with Italy last year. and Delta about a deal for ITA, but they couldn’t agree on anything.
Earlier on Wednesday, Air France stated that it would not submit a bid for ITA.
