TURIN. Lufthansa presented an expression of interest to the Treasury Ministry to enter the capital of Ita. Initially, the purchase of a minority stake will be defined and options for the subsequent purchase of the remaining shares will be agreed. In a note, the German company explains that “should both parties decide to sign the memorandum of understanding, further negotiations and discussions will be conducted on anexclusive”.
The case- Scandal Ita, en route to the crash: in the secret papers of the company poisons and flights to the sea with the family
According to rumors, there are two elements in the proposal: the economic one which values the company at around 500 million euros and on the basis of which the Germans are willing to invest immediately – through a reserved capital increase – around 200 million euros for 40% of the capital; and the industrial one which envisages a commercial partnership with Ferrovie dello Stato for the issue of a single ticket, which combines train and plane. The relaunch of the former Alitalia, according to the Germans, also passes through the development of an intermodal transport network.
For the Lufthansa group, the Germans specify, «Italy represents the most important market outside the domestic markets and the United States. The desire to integrate Ita Airways within the companies of the Group lies in the strong interchange of the country on a global level, through business and private travel, in its strong export-oriented economy and in its being one of the most attractive tourist places in Europe”.
Reconstruction, Aifa, Treasury: the government spoils system
Antonio Bravetti Luca Monticelli
The key numbers
With Ita Airways, Lufthansa would further expand its reach which already includes the airlines Swiss, Austrian Airlines, Brussels Airlines, Air Dolomiti and Eurowings. The German group, with its over 107,000 employees and around 360 aircraft in the Lufthansa fleet, is already a real giant in the sector which in 2021 recorded a turnover of over 16.8 billion euros and which in the first 9 months of the 2022 has already recorded revenues of 23.9 billion euros. In the first 9 months, the group led by CEO Carsten Spohr recorded a net profit of 484 million euros, a strong improvement compared to the loss of 1.8 billion euros.
History
Founded in 1926 in Berlin following the merger of two German airlines, Deutsche Aero Lloyd and Junkers Luftverkehr but dissolved in 1951 by the allies after the Second World War, Lufthansa was reborn on 6 January 1953 as “Aktiengesellschaft für Luftverkehrsbedarf” (Luftag ) based in Cologne. On 6 August 1954, Luftag acquired the name, logo and colors (blue and yellow) of the former Lufthansa, then in liquidation, and became “Deutsche Lufthansa Aktiengesellschaft” (Lufthansa). In 1960, Lufthansa entered the era of the jet aircraft with the acquisition of the first Boeing B707. It is the beginning of a success story. After the pandemic, Lufthansa, which repaid German state aid, returned to flying. In the first 9 months of 2022, the group carried out 615,000 flights (75.7 million passengers), up sharply from the 291,000 flights in the first nine months of 2021 (29.6 million passengers).. —