The German airline Lufthansa has bought into the Italian ITA Airways. This could put an end to possible acquisitions in SAS.
It became known on Thursday that the airline giant Lufthansa has cast its eyes on the Italian market and has acquired the Italian airline ITA Airways.
The contract between the airlines was signed on Thursday in Rome, Italy, NTB-DPA informs.
This happened after several months of negotiations, Lufthansa will take over a minority stake of 41 percent.
The company Italia Trasporto Aereo (ITA) was launched in 2021 after a restructuring of the airline Alitalia.
Alitalia was founded in 1947, but had to be restructured after many years of financial difficulties.
This shows that by doing this Lufthansa is not only strengthening its branches in southern Europe, but that they are also rescuing an airline in trouble.
Many had hoped that Lufthansa would become a saving angel for Scandinavian SAS. But instead it was ITA instead who received the lifeline, at least in the first half.
Even for a large company like Lufthansa, the financial capacity for this type of acquisition is limited. It will therefore be less likely that you will also have the opportunity to join SAS.
As a result, SAS may have to look around for solutions other than an agreement with Lufthansa. Incidentally, such an agreement has not been discussed much lately.
SAS has been in trouble for a long time, although so far it has survived through a significant crisis period and the application for bankruptcy protection in the USA has been approved.
An extensive restructuring process now awaits.