MSC Cruises announced it considered expanding into the aviation industry via a planned takeover of ITA Airways in partnership with Lufthansa.
ITA Airways confirmed that MSC Cruises and Lufthansa had issued an Expression of Interest in order to acquire the majority stake in the airline. The Italian Government currently owns ITA Airways and MSC Cruises and Lufthansa have reportedly said they hoped it would retain a minority stake in any takeover.
Both companies have asked for 90 days of exclusivity in order to work on the proposal. The nature of the partnership remains to be outlined during the diligence process.
In a statement, a spokesperson of ITA Airways said that ITA Airways was satisfied the work carried out in recent months to offer the best prospects to the company was starting to have the expected results, providing for a company recognized as viable for partners of international reputation both in passenger and cargo transport.
“The Board of Directors will examine the details of the Expression of Interest in an upcoming meeting.”