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The data room is open: Lufthansa takes another hard look at ITA Airways

The data room is open: Lufthansa takes another hard look at ITA Airways

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

It was a surprise. On August 31, the Italian government chose Lufthansa and MSC as new shareholders and partners in the company ITA Airlines. Certares Financial has entered its turn. But meanwhile, the period of exclusive negotiations with the Americans has passed without result, and all candidates are allowed to return to Rome.

Lufthansa boss Carsten Spohr said one was still interested in ITA Airlines, even after the defeat. But only if it is real privatization. The nationalist government of Prime Minister Giorgia Meloni is now unusually open to limiting the state’s influence over the national airline.

Lufthansa’s data room has been opened

Perhaps this change of mind is also due to the fact that ITA is incurring losses. Just this week, the airline had to raise its capital by €400m – funded by the state. Given high inflation, gas shortages and the risk of a recession, the government has other priorities than the airline to keep feeding.

The newspaper said that the Italian Ministry of Economy wants to reach an agreement on selling the majority stake in the airline as soon as possible. Corriere della Sera. According to the report, Lufthansa is back in the game. The government opened ITA Airways’ data room to the German group. So Lufthansa can accurately check all information on ITA Airlines, including the profitability of individual routes.

MSC exits

According to various Italian media reports, MSC is no longer involved. The shipping giant appears to have lost interest, fed up with the hype surrounding the private company and unhappy with the way the ITA file is being handled.