Home News Lufthansa wants to buy 20% stake in Italian state-owned ITA Airways, Alitalia’s...

Lufthansa wants to buy 20% stake in Italian state-owned ITA Airways, Alitalia’s successor

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The Italian state will initially keep the remaining 20%, the source said. The Lufthansa-MSC duo presented their offer to buy the majority stake in ITA on Monday.

MSC, also known as Mediterranean Shipping Group, has submitted a bid with Lufthansa and is awaiting further steps, a company spokesman said, refusing to comment further.

The Italian Treasury did not respond to a request for comment on the sale process after the deadline for submitting bids.

MSC and Lufthansa face a rival bid from US financial investor Certares, which works with Air France-KLM and Delta Air Lines (DAL.N).

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Delta confirmed Tuesday that it will not be a financial investor in the ITA, but said in a statement that it will seek to build on an existing business partnership with the ITA.

Air France-KLM declined to comment on the ITA on Tuesday.

The French-Dutch operator has launched a € 2.26 billion ($ 2.4 billion) share offer to consolidate its balance sheet and repay part of the French state aid, approaching the reimbursement of government support for pandemic and the fulfillment of the conditions of the European Union for participation in any future consolidation of airlines.

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According to the Italian press, Alitalia’s successor is worth between 1 billion and 2 billion euros.

A Lufthansa spokesman declined to comment.

A decision on the group of bidders is expected in the coming weeks and they will be invited to participate in exclusive negotiations. Italy aims to complete the sale by the end of June.

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