MSC Group and Lufthansa have submitted an offer to acquire a majority stake in the Italian airline ITA, which is currently undergoing liquidation. Both MSC Group and Lufthansa have expressed their desire for the Italian government to retain a minority stake in the company and have requested 90 days of exclusivity to work on this expression of interest.
In this regard, the MSC Group stated in a press release: “The MSC Group has expressed to the Italian Government its interest in acquiring a majority stake in ITA Airways with the aim of forming an alliance with the Italian Government and Lufthansa as the industrial partner in the project. Lufthansa has already expressed its interest in participating. The MSC Group’s interest stems from the potential to generate positive synergies for both companies in the cargo and passenger sectors, in which the MSC Group is a world leader. Following the expression of interest submitted today, the MSC Group and Lufthansa will require a 90-day exclusivity period and will be subject to regulatory approvals and due diligence.”
ITA was launched in October as an independent airline from Alitalia, operating on a smaller scale: it currently has 52 aircraft and just under 3,000 employees. The airline's president, Alfredo Altavilla, explained in early January that in its first two and a half months of operation, ITA had generated €86 million in revenue, half of what was projected. He also mentioned that ITA aimed to finalize a collaboration with an industrial partner by June.
Lufthansa was already interested in acquiring some of Alitalia's assets when its bankruptcy administrators were looking for a buyer, but ultimately abandoned the idea, as Alitalia's management at the time intended to sell the company in its entirety, not piecemeal. Now, it has sought a partner like MSC with the aim of acquiring a majority stake in the airline.
