Lufthansa would only be interested in investing in Alitalia when it is restructured

Lufthansa airline is only interested in investing in the Italian Alitalia, once the company has been restructured, has confirmed the CEO of the German group, Carsten Spohr this Thursday to analysts, after presenting the results of the first nine months of the year, period in which its net profits fell 43%.

Spohr has assured that they are “interested in seeing a new restructured Alitalia” if it “makes sense” for the company and shareholders, due to the “importance” of the Italian market.

The Italian airline, which has been avoiding bankruptcy since May 2017 thanks to a loan from the Italian Government and under the mandate of FS, Atlantia and Delta Airlines, met on October 15 the sixth extension to be rescued. To avoid short-term concerns, the Italian Government, which considers Alitalia an essential business, has offered another loan of 350 million euros and has already extended the deadline until November 21.

On Wednesday, Alitalia administrators admitted that they did not have a preferred option between Delta Air Lines and Lufthansa, the two groups talking to rail operator Ferrovie dello Stato about a rescue for the Italian company.

Ferrovie will have to choose between the two companies in the coming weeks, as Alitalia’s financial performance is deteriorating, according to administrators.

Last week, sources close to the matter reported that Lufthansa would be willing to invest up to 200 million euros in Alitalia, while Delta would invest 100 million euros in the Italian airline.