Tuesday, June 25, 2024

Lufthansa in talks to buy 40pc stake of ITA Airways

Germany’s flagship carrier Lufthansa is in talks to buy a 40 per cent stake in Alitalia’s successor ITA Airways, with a deal likely to be unveiled next week, according to a Reuters report.

An ITA spokesperson said that the airline’s top management would present a strategic plan to board on January 31, and a data room would be opened in the following days.

Sources told Reuters on January 12 that the Italian carrier was in contact with Lufthansa, British Airways and US-based Delta Air Lines for an equity partnership, adding that formal talks could start by the end of March, added the BNA report.

According to Italian daily  Il Foglio, Lufthansa and ITA are very close to agreeing over some key terms of the deal, such as the role of Fiumicino airport as a hub for direct flights to Africa and some routes to the Americas.

The deal will be subject to European Union approval, the paper added.

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