Lufthansa eyes 20% stake in ITA, partner MSC is bidding for a 60% stake - report
Germany’s flag carrier Lufthansa (LHAB) (LHA) aims to acquire a 20% stake in ITA Airways, the successor to Alitalia, while its partner Mediterranean Shipping Company (MSC) eyes a 60% stake, Italian media has reported, citing unofficial sources.
Both Lufthansa (LHAB) (LHA) and MCS have already filed the offer, Italian media outlet Il Mattino reported on May 24, 2022. Further negotiations between ITA Airways and its bidders are due to take place during the coming weeks with the final decision expected to be announced in June 2022.
Earlier in May 2022, Italy’s Minister of Economy and Finance Daniele Franco officially confirmed the three bidders who have shown interest in ITA Airways - the joint venture between Lufthansa (LHAB) (LHA) and MCS, a joint venture between Delta Air Lines and Air France-KLM, and private Indian equity firm Indigo Partners.
Having launched operations in October 2021, Italian government-owned ITA plans to serve 45 destinations with 61 routes in 2022 with a further goal to expand its network to a total of 74 destinations and 89 routes by 2025. According to ITA’s official website, the airline aims to gradually grow its current fleet of 52 planes to 78 aircraft in 2022 and to 105 jets by the end of 2025.
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