ITA Airways has worked out the main elements of a partial acquisition agreement with Lufthansa and expects to announce it soon, the Italian airline’s president, Antonino Turicchi, said Wednesday during the unveiling of a new aircraft at Rome’s Fiumicino airport.
Sources have previously said the German carrier is negotiating with Rome over the purchase of a 40% stake in ITA, valued at around 200 million euros ($219 million), with the idea of buying the rest at a later stage.
→ ITA Airways reports net loss of 486 million euros in 2022
The exclusivity period for talks between ITA, the successor to bankrupt Alitalia, and Lufthansa ends on April 24, although the deadline is not binding.
Lufthansa CEO Carsten Spohr said last month that final negotiations were focusing on price, given the ongoing losses at the Italian carrier.
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