Lufthansa and the stakes of the EU. Thus the Germans decide the price
Ita Airways is increasingly in difficulty and time is running out. Lufthansa is in a hurry to close for the purchase, but will only do so at his conditions why the society loses too much“. To remove the last obstacle to the marriage of the heavens, – we read in Repubblica – the German group sends its number one Carsten to Rome today Spohr. The CEO of Lufthansa will see the Minister of Economy Giancarlo Giorgetti and the president of Ita, Antonino Turicchi. The parties in the field (Lufthansa and our government) will attempt a agreement on what Spohr himself, yesterday from Brussels, defined the last obstacle upon signing the contract. Today, yes will talk about moneyi.e. the evaluation of Ita. Evaluating Ita is a complex operation. Lufthansa will buy 40% of the Italian company through a capital increase reserved for her.
Up to now – continues Repubblica – he has hinted that would have paid between 250 and 300 million. The German press speculates that Spohr, today in Rome, will put a smaller sum on the table: 200 million. On the other hand, Ita closes the 2022 budget with a net loss of 468 million, about thirty more than expected. However, it is unlikely that Lufthansa can move less than 200 million. Meanwhile this money they will not go to the Italian State. If anything, they will end up in Ita’s tank, precisely because they are a capital increase. And Ita needs an appreciable liquidity injection to sustain itself. In summary, Lufthansa it cannot commit less than 200 million; while Italy cannot spend more than 250. In the light of these constraints, the negotiations between the German company and our Ministry of the Economy will focus more on the future than on the present.
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