MSC Cruises Parent, Lufthansa Seek Majority Stake In ITA Airways

The parent company of MSC Cruises is partnering with Lufthansa in a bid for a majority stake in Italy's ITA Airways, the airline created from the bankruptcy of former Italian flagship airline Alitalia.

MSC Group, one of the world's largest cruise ship operators, said in a statement late Monday that the deal would leverage synergies in both passenger and cargo.

The companies have requested that the Italian government, which currently controls ITA Airways, allow a 90-day period for exclusive talks and due diligence. Lufthansa said it would use the 90-day period to "explore all possible options for cooperation, including a possible equity investment."

ITA, or Italy Air Transport, officially launched last October after Alitalia landed its final flight, ending a 74-year history.

ITA has 52 planes, with plans to expand to more than 100.

Topics From This Article to Explore