Data room open: Lufthansa takes another look at ITA Airways

The new Italian government wants to get rid of the national airline quickly. Lufthansa is back in the game. The German group is already auditing the books of ITA Airways

It was a surprise. On August 31, the Italian government did not select Lufthansa and MSC as new shareholders and partners of ITA Airways. The financial company Certares entered the game. In the meantime, however, the period of exclusive negotiations with the Americans has passed without result, and all candidates can report back to Rome.

One is still interested in ITA Airways, Lufthansa boss Carsten Spohr said even after the defeat. But only if it is a real privatization. Prime Minister Giorgio Meloni’s nationalist government is now unusually open to reducing state influence over the national airline.

Data room open for Lufthansa

The change of mind is probably also due to the fact that ITA is in a loss. Just this week, the airline had to carry out a capital increase of 400 million euros – funded by the state. And with high inflation, gas shortages and the risk of recession, the government has other priorities than airlines to feed.

The Italian Ministry of Economy wants to reach an agreement on the sale of a majority stake in the airline as soon as possible, writes Corriere della Sera. And according to the report, Lufthansa is back in the game. The government opened the ITA Airways data room to the German group. Lufthansa can thus accurately verify all information about ITA Airways, including the profitability of individual routes.

MSC leaves

According to various Italian media reports, MSC is no longer participating. The shipping giant has apparently lost interest, fed up with the hype surrounding the private company and unhappy with the way the ITA paperwork was handled.

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