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ITA Airways: negotiations ahead with Lufthansa

Solid travel demand and German economic accounts create optimism

The CEO of the German aviation group Lufthansa, Carsten Spohr, recently spoke to comment on the positive economic data recorded by the company in 2022. In particular the doubling of revenues (32.8 billion euros) and the first net profit since the beginning of the pandemic (791 million against -2.2 billion in 2021), combined with the strong demand for travel, create optimism around the negotiation with Italy to acquire ITA Airways. 

"Following the signing of a letter of intent by the group and the Italian Ministry of Economy and Finance, both parties are currently in exclusive negotiations on the form of a potential investment in the Italian airline ITA Airways", said the German airline in a note. 

"The intention is that the Lufthansa company initially acquires a minority stake", which should be equal to 40% and should take place through a capital increase. "Among the options there is then that of buying the remaining part later", thas is the remaining 60% share which will remain in the hands of the Italian Ministry of Economy, but which could pass to the Germans by 2025.

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AVIONEWS - World Aeronautical Press Agency