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ITA Airways-Lufthansa (2): agreement by May

Rome is getting ready for the wedding with excellent financial forecasts and doubles the number of passengers transported

The Italian Minister of Economy and Finance (MEF), Giancarlo Giorgetti, whose ministry is the sole shareholder of the national air carrier ITA Airways, would like to formalize the agreement with the German aviation group Lufthansa by 26 May. Meanwhile, the tricolor airline is preparing for the wedding by presenting better-than-expected quarterly financial accounts and doubling its national market share to 27.1% (it was 13.3% in 2022). Situation that heralds the achievement of break-even (balanced budget) in 2025.

According to what was recently confirmed to the shareholders by the CEO of Lufthansa, Carsten Spohr, Lufthansa will privatize the Italian company in two phases: first the entry into the capital of ITA Airways with the acquisition of 40% of the company and then, after ITA will reach break-even, the German group should acquire the remaining 60%, a phase that will be completed between 2025 and 2027.

According to national press rumors, the negotiating machinery of the Italian Minister of Economy and Finance (MEF) is in full swing, so that everything is ready by next Friday 26 May, with the department's technicians and lawyers working to define the last details.

Officially Giorgetti seems to have declared himself "optimistic". Also because the numbers are on his side: Assaeroporti indicates a volume of passengers transported by ITA in March 2023 up by +133% (compared to March 2022), while in April 2023 the airline recorded a budget increase of +4 % on all sectors (domestic, international, intercontinental) and estimates for the first half of 2023 indicate revenues of 35 million Euros (+4.5% compared to the same period of 2022).

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AVIONEWS - World Aeronautical Press Agency