Lufthansa Group could buy up to 40% of ITA Airways
Lufthansa Group is in talks with ITA Airways to acquire a 15% to 40% stake in the capital of the new Italian airline, according to the Italian newspaper The messenger.
Through this acquisition, Lufthansa Group intends to integrate ITA Airways into the group's operations together with Austrian Airlines, Brussels Airlines and SWISS. If the agreement is confirmed, Lufthansa Group intends to develop synergies such as maintenance, the purchase of aircraft and the transformation of Rome Fiumicino Airport into a truly international hub.
We remind you that in the past, Lufthansa Group intended to buy Alitalia, but the transaction did not end because the old Italian air carrier was in debt. Maybe this time, the Italian authorities will be able to privatize ITA Airways.
Lufthansa Group wants to buy ITA Airways to prevent the Air France - KLM group, together with Delta Air Lines, from dominating the Italian market through an alliance with ITA Airways. In addition, Italy is the second largest international market for Lufthansa.
The new airline ITA Airways commenced operations on 15 October 2021, one day after Alitalia ceased operations. The new Italian airline took over part of the assets of the late Alitalia, adjusted its operational network to be profitable and took over part of the staff of the old Italian airline.
To modernize the fleet, ITA Airways has placed a firm order for 28 Airbus aircraft. On the commercial side, ITA Airways entered into the Skyteam and entered into agreements with several airlines.