Ita-Lufthansa: negotiation extended until May 12

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The negotiation for the entry of Lufthansa with a minority stake in the capital of Ita Airways should be concluded next month.

The leaders of the German giant would indeed have asked the Italian Ministry of the Economy to extend the exclusive negotiation until May 12, compared to the initial deadline of April 24.

Through a reserved capital increase, Lufthansa intends to acquire up to 40% of Ita from the Treasury: we would be talking about a figure of around 250 million euros. The percentage will be disclosed at the time of closing, based on the value Ita Airways will have on that specific date.

Once the agreement with Lufthansa has been concluded, the file will be sent to Brussels to obtain the green light from the European Antitrust, expected by the summer.

We will then move on to phase 2, that is to say that of the control of Ita, which the German carrier should exercise once equilibrium has been reached – expected after two years -, when from 2026 the Italian company should become profitable.

The Italian Government intends to ensure the protection of the public interest after the first two years and for this, two options are being studied: by maintaining a state shareholding or by the presence of Ita representatives on the board of directors of the new company resulting from the merger.

Catherine Mills Avatar