Germany's Lufthansa is set to buy a 40% stake in Italy's national airline ITA Airways, successor to Alitalia, Italian daily Il Foglio reported on Saturday, adding that a deal could be unveiled next week.
ITA Airways started flying on Oct. 15 with nearly 2,300 employees and a fleet less than half the size of that operated by Alitalia, the 75-year-old former national carrier which passed through a dizzying succession of restructurings and changes of ownership.
The newspaper did not give a price for any deal, but said the two companies were very close to agreeing over some key terms, such as the role of Rome's Fiumicino airport as a hub for direct flights to Africa and some routes to the Americas.
An ITA spokesperson said on Saturday that the airline's top management would present a strategic plan to the company's board on Jan. 31. A data room would be opened in the following days, he added, allowing a potential bidder or partner to have access to key financial documents to assess the value of the company.
Lufthansa declined to comment.
The report comes after sources told Reuters on Jan. 12 that ITA was in contact with Lufthansa, British Airways and United States-based Delta Air Lines for an equity partnership, saying that formal talks could start by the end of March.
A Lufthansa spokesperson said at that time that the German carrier was open to the possibility of a partnership with ITA.
