ITA-Lufthansa: a long-awaited turning point
Spohr: "ITA is not the old Alitalia" and "we will make this operation a success"
The privatization of 41% of the air carrier ITA Airways by the Lufthansa Group (which put 325 million euros on the plate) represents a turning point for the Italian aviation market. Thus ends, after decades, a long series of rescue attempts by the Italian flag carrier, which had been going on since the days of Alitalia and which prevented the passage of the airline to foreigners.
At the beginning of the 2000s, the Berlusconi government opposed the sale of the Alitalia company to Air France, with the aim of defending the Italian character of the company at all costs. However, this caused a huge hole to open up in the company's budget. In 2008 the consortium of "Capitani coraggiosi" led by Roberto Colaninno attempted to rescue them; then followed in 2014 the sale to the Arabs of Etihad. It went from bad to worse.
In short, the ITA Airways-Lufthansa marriage seems to crown a search that lasted decades. Alitalia's precedents do not bode well: our national airline has not recorded annual profits for 20 years and has gone bankrupt twice. However this could be the right time. Optimism was instilled by the CEO of the German group, Carsten Spohr, who declared: "ITA is not the old Alitalia" and "we will make this operation a success", betting on the break-even in 2026.
On the matter see also the article published by AVIONEWS.
AVIONEWS - World Aeronautical Press Agency