Lufthansa And Shipping Group MSC Eye Majority Stake In Italy's ITA

Sumaira FH Published January 25, 2022 | 02:10 AM

Rome, (UrduPoint / Pakistan Point News - 25th Jan, 2022 ) :German carrier Lufthansa and Italian shipping company MSC have expressed an interest in acquiring a majority stake in Alitalia's successor ITA Airways, the Italian airline announced on Monday.

ITA said it received the declaration of interest on Monday and said the proposal stipulated that the Italian state, which owns ITA, would retain a minority stake in the company.

Lufthansa and MSC, which is one of the world's biggest container shipping companies, also requested a 90-day period of exclusivity on the negotiations, according to ITA.

MSC confirmed the proposal in a statement.

ITA said its board would examine the details of the offer in an upcoming meeting.

ITA was formed out of the remnants of Italy's loss-making flag carrier Alitalia, which the European Commission insisted be wrapped up as a condition for approving further aid by the Italian government.

ITA took over half of Alitalia's planes and took to the skies in mid-October.

The airline said Monday it was "satisfied" that the work it had undertaken in recent months to improve the company's outlook was beginning to bear fruit.

It added that ITA had now gained international credibility as an operator of both passenger and cargo aircraft.

Lufthansa had long been touted as a potential partner, but a rescue attempt fell through in early 2020.