FRANKFURT (Reuters) -Lufthansa is working with Italy's economy ministry to increase its stake in state airline ITA Airways to 90% by June 2026, the Corriere della Sera newspaper reported on Thursday,
Lufthansa Aims to Increase Stake in ITA Airways to 90% by June 2026
FRANKFURT (Reuters) -Lufthansa is working with Italy's economy ministry to increase its stake in state airline ITA Airways to 90% by June 2026, the Corriere della Sera newspaper reported on Thursday, citing two sources familiar with the discussions.
The German airline would pay a further 325 million euros ($379.89 million) to boost its stake from the current 41%, in addition to a performance-related sum of 100 million euros, reported the newspaper.
A final decision is expected in April or May, it added.
Lufthansa did not comment on the report.
Under its agreement with Rome, the airline group that includes Austrian Airlines and Swiss as subsidiaries has the option of increasing its stake in ITA to 90% next summer.
Lufthansa made the timetable for this dependent, among other things, on how quickly the Alitalia successor can improve its profitability.
The airline has been integrated into the Lufthansa network since the beginning of the year, and it made a positive contribution to the group result for the first time in the second quarter.
($1 = 0.8555 euros)
(Reporting by Ilona WissenbachWriting by Miranda MurrayEditing by Madeline Chambers)
