ITA Airways sale: now Lufthansa can (finally) get on track
The year 2023 brought the publication in the Official Gazette of the new decree guiding the sale of ITA airline [...]
Lufthansa
ITA Airways
Star Alliance
SkyTeam
The year 2023 brought the publication in the Official Gazette of the new decree guiding the sale of ITA Airways, and all indications point to only one potential buyer (barring last-minute surprises), namely the Lufthansa Group. The change of course is put in black and white. The divestment can only take place if the buyer is an airline, not an investment fund (or a shipping company).
In this article:
The decree stipulates that "the sale of the stake in ITA Spa shall be carried out by the Ministry of Economy and Finance through direct negotiation limited to those individuals who individually or as part of a grouping participated in the procedure" of selecting interested parties. "Within the scope of the bidders," the measure specifies, "there must necessarily be. An airline that needs to acquire a majority stake object of each stage of the transaction," and the bidder "must ensure that even on the date of the exit" of Mef from Ita's capital, "the majority of its capital is held by an airline."
Steps toward the divestment of ITA Airways
In the past 6 months, a lot has happened. First the Draghi government's surprise that he preferred Certares' offer. to that of MSC, then the exclusive negotiation agreement. The defenestration of CEO Altavilla which, instead, according to all news sources, preferred the MSC/Lufthansa option. Finally, the step backward by the giant of the seas and German group's lone run. And today, January 3, we almost reach the end credits of the first chapter, when Lufthansa and the government sign the MOU (Memorandum of Understanding) will begin the second one the one that will lead to the final sale.
In the coming days--in addition to signing the document--the German giant (which also owns the airlines Swiss, Austrian, Brussels and their respective low-cost divisions) will make a binding offer to enter the share capital of ITA, which is now totally in public hands.
ITA flights for sale on Lufthansa website
Many users yesterday reported the presence on Lufthansa's sales systems of ITA flights and vice versa. This is an arrangement that had been in place since last year and is now being strengthened in anticipation of the divestment proceeding in the direction hoped for by many. Also We at TFC back in 2021 sided with the German group. than the possible takeover by Delta and Air France.
In conclusion
Lufthansa, Austrian and Swiss queues.
