Italy's Treasury and Germany's Lufthansa have agreed to extend exclusive talks over the sale of ITA Airways until May 12 from the previous deadline of 24 April, a source close to the matter told Reuters on Monday 24 April.
State-controlled ITA officially replaced the money-losing Alitalia airline in 2021.
The source, speaking on condition of anonymity, said Treasury granted Lufthansa's request for extra time for the talks. The source did not provide further details.
Talks proceed in a "constructive manner", the source added.
No Immediate Reply To Comment Request
Lufthansa did not immediately respond to a request for comment.
Statements Made Last Week
ITA's chairman said last week the main elements of a deal were defined and the parties hoped to announce it soon.
Reuters previously reported that the German carrier was negotiating with Rome over the purchase of a 40% stake in ITA, valued at around €200 million, with the idea of buying the rest at a later stage.
Loss Last Year
ITA, which says it is still in a start-up phase, posted a loss of around €486 million last year due to the lingering effects of the coronavirus pandemic and rising fuel costs.
ITA Airways Chairman Says Deal With Lufthansa Largely Agreed
The above news follows news that ITA Airways has worked out the main elements of a partial takeover deal with Lufthansa and hopes to announce it soon, the chairman of the state-controlled Italian airline has said.