Deutsche Lufthansa AG is aiming to acquire a stake in the Italian national carrier ITA Airways.
The airline intends to initiallyagree on a minority stake initially with options to purchase the remaining shares at a later date. On Wednesday, 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 the MoU, further negotiations and discussions would be conducted.
The 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.
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