‘Customers should be customers of each of our business lines’, says Geodis chief
France’s Geodis is looking to increase its operating income (EBIT) margin from 3.8% to 6% ...
Photo: Vincenzo Gentile
By Alex Lennane
It’s on. Lufthansa will buy 41% – initially – of Italy’s ITA Airways, for €325m, giving it stakes in or ownership of airlines in five countries.
The long negotiations, which saw Italian shipping line MSC pull out of a partnership with Lufthansa, have seen the Germans agree on options to enable Lufthansa to buy the remaining shares at a later date. The Italian government, meanwhile, has committed to a capital increase of €250m into ITA. CH Aviation quoted Italian media sources ...
Comment on this article
Marco Menti
May 26, 2023 at 1:25 pmIt is a better solution than becoming a feeder for MSC, although for passengers it would have been better to be acquired by DL-AF/Certares as the network is much more extended and reliable. From a cargo standpoint, as Italy is missing connections and infrastructure, Lufthansa is a better partner which might provide Italian business the access that is needed for their economy to grow.