{"id":138165,"date":"2023-03-30T10:00:00","date_gmt":"2023-03-30T10:00:00","guid":{"rendered":"https:\/?p=138165"},"modified":"2023-03-31T11:26:11","modified_gmt":"2023-03-31T11:26:11","slug":"negotiations-between-lufthansa-and-ita-airways-move-forward","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2023\/03\/negotiations-between-lufthansa-and-ita-airways-move-forward.html","title":{"rendered":"Negotiations between Lufthansa and ITA Airways move forward"},"content":{"rendered":"\n

Italy\u2019s government said on Thursday negotiations were progressing with Germany\u2019s Lufthansa<\/strong> over the sale of a minority stake in ITA Airways<\/strong>, after the two companies jointly approved the Italian carrier\u2019s industrial plan.<\/p>\n\n\n\n

Talks in Rome between Economy Minister Giancarlo Giorgetti, Lufthansa CEO Carsten Spohr and ITA Chairman Antonino Turicchi were \u201cpositive,\u201d a Treasury statement said, with the three discussing plans for the state-owned carrier.<\/p>\n\n\n\n

A source close to the matter, who asked not to be named, said a deal could be closed by mid-April. The exclusivity period ends on April 24, although the deadline is not binding.<\/p>\n\n\n\n

\u2192 ITA Airways reports net loss of 486 million euros in 2022<\/a><\/em><\/strong><\/p>\n\n\n\n

The Italian Treasury statement said the industrial plan would determine the future of ITA \u201cin terms of fleet, network and strategic goals\u201d, with analysts seeing the merger with a stronger rival as the only option for the company, Reuters<\/a> reported.<\/p>\n\n\n\n

ITA, which took to the air in 2021 as the successor to Alitalia, posted a 2022 loss of around 486 million euros ($530.5 million) due to lingering effects of the pandemic and rising fuel costs, despite strong revenue of 1.58 billion euros.<\/p>\n\n\n\n

Sources have said the German carrier is negotiating with Rome over the purchase of a 40% stake in the airline valued at around 200 million euros, with the idea of buying the rest at a later stage.<\/p>\n\n\n\n

Lufthansa\u2019s Spohr told journalists on Wednesday that final negotiations for the takeover of ITA Airways were focusing on price, given the ongoing losses at the Italian carrier.<\/p>\n\n\n\n

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