Ita Airways, Lufthansa’s offer is now official: plan for national airline

Lufthansa has formally made an offer to acquire a minority stake in Ita Airways. The announcement in a note that does not reveal the cards regarding the details of the offer submitted to the Ministry of Economy and Finance (MEF) starts from the percentage that the German giant is considering buying. Mef reported that it has received a letter of intent from Lufthansa to acquire a minority stake in Ita Airways Spa. Dpcm” added that no other bids have reached the deadline scheduled for 18:00 today.

What’s going on with Ita Airways?

The industrial reasons for this move are clearly explained and this is that in addition to the domestic and US market, the Italian market is the most important market. An interest that is certainly not new and has been reaffirmed over and over in the past is one that Lufthansa now plans to realize, especially since rival Air France-KLM has decided not to submit any offers.

“Deutsche Lufthansa Ag intends to acquire a stake in the Italian national airline Ita Airways (Italia Trasporto Aereo SpA). Initially, the purchase of a minority stake will be finalized, and then options have been agreed to purchase the remaining shares. Today, Lufthansa His group submitted a letter of intent to the Italian Ministry of Economy and Finance”, explains Lufthansa, summarizing the various steps of the operation.

“If both parties decide to sign a memorandum of understanding, further negotiations and discussions will be conducted exclusively. Therefore, further in-depth discussions will mainly focus on the forms and methods of possible equity investment, the commercial and operational integration of Ita in the Lufthansa Group and the resulting in synergies.

Lufthansa states that if a contractual agreement is reached, the actual implementation will be subject to the approval of the relevant authorities. “For the Lufthansa Group, Italy is the most important market, both domestic and outside the USA. The desire to integrate Ita Airways into Group companies depends on the country’s strong global exchange of business and private travel, its strong export-oriented economy and one of the country’s most attractive tourist destinations. Europe”.

Source: Today IT