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Lufthansa submits an offer to acquire a stake in ITA Airways

Deutsche Lufthansa AG is interested in acquiring a stake in the Italian national airline ITA Airways. The plan consists of agreeing on the initial acquisition of a minority stake, as well as purchase options for the rest of the shares at a later date.

The company has presented this Wednesday an offer to the Italian Ministry of Economy and Finance to conclude a Memorandum of Understanding (MoU) in this regard. Provided both parties sign the memorandum, exclusive negotiations and talks will ensue.

These talks would mainly focus on the form of a possible capital investment, the commercial and operational integration of ITA into the Lufthansa group, as well as the resulting synergies. If a binding agreement is reached, its application would be subject to the approval of the relevant authorities.

“For the Lufthansa Group, Italy is the most important market outside of its home markets and the US. Italy's importance for business and private travel lies in its strong export-oriented economy and its status as one of Europe's top vacation spots," the company said.

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