Lufthansa submits offer to acquire a stake in ITA Airways
Deutsche Lufthansa AG is aiming to acquire a stake in the Italian national carrier ITA Airways. 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 company submitted an offer to the Italian Ministry of Economy and Finance to conclude a Memorandum of Understanding (MoU) in this respect. Contingent on both parties signing this MoU, further negotiations and discussions would be conducted on an exclusive basis.
→ Lufthansa to offer more than 205 destinations in summer 2023
These talks would primarily focus on the form of a possible equity investment, the commercial and operational integration of ITA into the Lufthansa Airline Group, as well as resulting synergies. In case of a binding agreement is reached, its implementation would be subject to approval by the relevant authorities.
“For Lufthansa Group, Italy is the most important market outside of its home markets and the US. Italy’s importance for both business and private travel lies in its strong export-oriented economy and status as one of Europe’s top vacation spots”, the company said.
Related Topics
Spirit Airlines Collapse Reveals Limits of Ultra-Low-Cost Model Amid Premium Market Shift, Says Delta CEO
JetBlue and United Airlines Activate Reciprocal Loyalty Benefits Under ‘Blue Sky’ Alliance
United Airlines Boosts Transpacific Network: Launches Unprecedented Route to Sapporo and New Chicago-Tokyo Narita Connection
FAA to Invest $16.5 Million to Equip Airport Vehicles with Transponders Following LaGuardia Accident
Plataforma Informativa de Aviación Comercial con 13 años de trayectoria.