[transtraxman]

“Talks begin as Rome and Lufthansa sign ITA Airways LOI,” (31-1-23, ch-aviation)

Italy’s Ministry of Economy and Finance has signed a Letter of Intent with Lufthansa for the latter to start negotiations with the MEF in order to take a 40% minority stake in ITAL. At a later date Lufthansa would take over the remaining 60%. The initial cost for the 40% stake is expected to be in the range of €250-300 million in the form of a capital increase.The price is also expected to include the release of slots at Milan Linate and Rome Fiumicino. After the initial negotiation period of six weeks a report is to be sent to the Italian Government. That would be followed by the details being sent to the European authorities in Brussels for inspection. This process will take between 8 and 10 weeks.

https://www.ch-aviation.com/portal/news/124004-talks-begin-as-rome-and-lufthansa-sign-ita-airways-loi

[deafcrump]

We should keep a close look on ITA otherwise the interests of our own airlines, be them Ryanair, Vueling or Easyjet or whoever, will be unfairly jeopardised.

[AMcWhirter]

deafcrump wrote:

We should keep a close look on ITA otherwise the interests of our own airlines, be them Ryanair, Vueling or Easyjet or whoever, will be unfairly jeopardised.

THANKS|

But will ITA be able to match these carriers’ operating costs ?

[LuganoPirate]

DavidSmith2 wrote:

They originally status matched my BA Gold card. Then extended it with COVID. I just received an email from them today titled ‘we have a gift for you’. With a FURTHER extension of the Gold-esque benefits until Dec 31 2023. As a member of Skyteam this is invaluable. Thanks ITA!

Same with me, and I matched from Senator Gold with LH. I’ve not yet flown them but am Gold with Skyteam. A drawback if LH takes over, is that I’ll lose that and just have my LH Gold status!

[LuganoPirate]

AMcWhirter wrote:

deafcrump wrote:

We should keep a close look on ITA otherwise the interests of our own airlines, be them Ryanair, Vueling or Easyjet or whoever, will be unfairly jeopardised.

THANKS|

But will ITA be able to match these carriers’ operating costs ?

No they won’t, and being Italian and being owned by a “rich” German company, they’ll all soon want salary increases and so on. After a few years Lufthansa will sell it on at a loss waiting and hoping for some other mug to buy it. Plus ca change, plus c’est le meme chose!!

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cwoodward, AMcWhirter

[Author]

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