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Lufthansa in talks to buy 40% stake in ITA Airways - sources

Lufthansa in talks to buy 40% stake in ITA Airways - sources

Old Jan 23, 2022, 10:44 am
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Lufthansa in talks to buy 40% stake in ITA Airways - sources

Germany's flagship carrier Lufthansa (LHAG.DE) is in talks to buy a 40% stake in state-owned Alitalia's successor ITA Airways, two people familiar with the negotiations said on Sunday, following a newspaper report that a deal could be unveiled next week.

https://www.reuters.com/business/aer...es-2022-01-23/
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Old Jan 23, 2022, 10:17 pm
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I'll believe it when I see it...
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Old Jan 24, 2022, 3:25 am
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You'd think Lufthansa had enough on it's plate....
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Old Jan 24, 2022, 12:13 pm
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It gets better: apparently LH is partnering with MSC cruises to buy a majority stake in the airline (link in Italian, open with incognito mode).

LH and MSC have requested a 90 working days period of exclusivity to do their research and due diligence before (as I understand it) submitting an offer.
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Old Jan 25, 2022, 8:37 am
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Originally Posted by malmostoso
It gets better: apparently LH is partnering with MSC cruises to buy a majority stake in the airline (link in Italian, open with incognito mode).

LH and MSC have requested a 90 working days period of exclusivity to do their research and due diligence before (as I understand it) submitting an offer.


The news has appeared on several Italian newspapers: La Stampa, Il Corriere della Sera, Sole 24 Ore, Il fatto Quatidiano and more others.

Things are starting to be interesting.
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Old Jan 26, 2022, 4:40 am
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LHs info:

MSC Group interested in ITA Airways / Lufthansa Group as commercial partner

The Geneva-based shipping company MSC Group on Monday expressed its interest to the Italian state in acquiring a majority stake in ITA Airways – with Lufthansa as commercial partner and the Italian state as minority owner. Lufthansa Group, for its part, has already confirmed its interest in participating in such a partnership. MSC sees this as an opportunity for the partners to activate synergies in the areas of freight and passenger business.

MSC and Lufthansa, following the expression of interest, require an exclusivity period of 90 business days during which ITA Airways and the Italian state may not negotiate with any other interested parties in parallel. ITA Airways will now examine the expression of interest. Also Lufthansa will use the next 90 days to explore all possible options for a cooperation, including a possible equity investment.

ITA Airways is the successor company of Alitalia. Currently, the new company is 100 per cent state-owned and is looking for an investor. With fewer aircraft and fewer employees, ITA Airways replaced the flight operations of Alitalia on 15 October 2021, after the latter had previously made losses for years. ITA’s aircraft livery consists of an azure fuselage with the words “ITA Airways” in white gold, the Italian tricolour on the vertical stabiliser and white engines with a stylised Italian flag.

MSC (Mediterranean Shipping Company) is one of the largest container shipping companies; the group also includes the cruise company MSC Cruises.
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Old Jan 26, 2022, 1:24 pm
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I'm absolutely a layman on this subject; but if 100% is state owned and MSC/LH would purchase 40%...how is that then a majority share? Assuming the state still holds 60% at that point?
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Old Jan 26, 2022, 1:52 pm
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Originally Posted by Xandrios
I'm absolutely a layman on this subject; but if 100% is state owned and MSC/LH would purchase 40%...how is that then a majority share? Assuming the state still holds 60% at that point?
I could be wrong, but I thought they were looking at 40% each ?
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Old Jan 26, 2022, 11:23 pm
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Originally Posted by Xandrios
I'm absolutely a layman on this subject; but if 100% is state owned and MSC/LH would purchase 40%...how is that then a majority share? Assuming the state still holds 60% at that point?
I think 40% was the original rumor, then the talk of "majority stake" came out.
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Old Jan 28, 2022, 6:58 am
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It seems the shipping companies are flush with cash and are looking to diversify: Maersk & CMACGM already have airfreight ops, now MSC is getting into the game to have freight and a cruise ship feeder. MSC being privately Italian owned seems to be factor too. Remember the old adage 'The quickest way to become a millionaire in the airline business is to start out as a billionaire.'
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Old Jan 28, 2022, 6:08 pm
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Originally Posted by oliver2002
.... 'The quickest way to become a millionaire in the airline business is to start out as a billionaire.'
A lesson you'd have thought Lufthansa might have learned through its acquisition of lame ducks.....
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Old May 11, 2022, 7:58 am
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The process is moving along:

Italy wants to complete Ita sale in June

Italian airline Ita, in which Lufthansa is interested together with shipping company MSC, is to be sold by the end of June. By May 23, a total of three potential buyers must submit binding offers for the successor to the traditional airline Alitalia, as Italys Finance Minister Daniele Franco announced in Parliament in Rome on Tuesday.

In addition to Lufthansa/MSC, the Certares fund together with U.S. airline Delta and Air France-KLM, as well as the investor Indigo Partners, which has a stake in low-cost carrier Wizz Air, are in the running to take over Ita. The Italian state, which took over Alitalia in March 2020 and so far still owns its successor Ita, will continue to hold a minority stake after the sale.

According to the minister, a precondition for winning the bid is that at least 51 percent of the shares in Ita are held by a European company in the future. In addition, he said, the deciding factor will be which offer is the best from a financial and legal point of view, but also which one brings the best prospects for Itas future as an international airline and for its employees.

After Lufthansa and MSC had already announced their interest in January, it took until last week for Ita to open its books to the three interested parties. Ita had launched as Alitalias successor on October 15, 2021, but initially with a significantly smaller fleet and fewer staff. (Source: dpa)
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Old May 24, 2022, 3:51 am
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Lufthansa Group and MSC submit joint offer for ITA Airways

The Lufthansa Group and the shipping company MSC have submitted a joint bid in the sale process of the Italian airline ITA Airways. The offer was submitted on time on May 23. Lufthansa and MSC are not commenting publicly on the specific contents of the offer.

ITA Airways is the successor to Alitalia and is currently 100 percent state-owned; an investor is being searched for. With fewer aircraft and fewer employees, ITA Airways replaced Alitalias operations in October 2021, after years of losses.

MSC (Mediterranean Shipping Company) is the worlds largest container shipping company; the group also owns the cruise line MSC Cruises.
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Old May 24, 2022, 11:28 am
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Not sure what to think about this. On the one hand, it would be cool to have ITA join *A so that I can earn and redeem miles there. On the other hand, I dread to think what will happen to pricing ex-IT if ITA and LH end up under the same roof.
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Old May 25, 2022, 6:26 am
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If ITA joined *A, that would be the only reason for me to book again with them, apart from an emergency.
That said, regarding the sale to LH, I'll believe it when I'll see it.
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