MILAN (AP) — German airline Lufthansa said it submitted a proposal Wednesday for a minority stake in Italy’s ITA Airways Spa, formerly Alitalia.
The Italian finance ministry said in an announcement that the Lufthansa offer was the just one submitted by Wednesday’s deadline.
No financial terms were disclosed. Lufthansa said it could have the choice to purchase remaining shares at a later date.
ITA Airlines, and before it Alitalia, has been searching for an industrial partner as its domestic business has suffered under competition from low-cost airlines. Other offers have fallen by the wayside.
ITA officially launched in October 2021 after bankrupt flag carrier Alitalia landed its final flight, ending a 74-year business history with a series of inglorious deals that never managed to revive the carrier to health.
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Already, Lufthansa operates Air Dolomiti in northern Italy, which funnels long distance traffic from airports reminiscent of Milan’s Malpensa, Verona’s Valerio Catullo and Venice’s Marco Polo to connections in Munich and Frankfurt.
“For Lufthansa Group, Italy is crucial market outside of its home markets and the U.S.,” Lufthansa said in an announcement. ”Italy’s importance for each business and personal travel lies in its strong export-oriented economy and standing as certainly one of Europe’s top vacation spots.”
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