Lufthansa's Spohr Upbeat on ITA Deal as Decision Time Approaches [BNN Bloomberg (Canada)]
DEUTSCHE LUFTHANSA S/ADR (DLAKY)
NASDAQ:AMEX Investor Relations:
investor-relations.lufthansagroup.com/en.html
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Source: BNN Bloomberg
Speaking to reporters in Dubai, Spohr said he aims to get “some indication this week” on the decision, adding that “it's realistic to come to a solution this week.” “And since we are in a very constructive phase of the dialog, I will consider it the final phase of a constructive dialog,” Spohr said at the IATA annual general meeting. Lufthansa wants to take over the former Alitalia in two stages to gain a stronger foothold in one of Europe's biggest but also most competitive aviation markets. The deal has faced scrutiny from competition authorities in Brussels, particularly its effect on long-haul travel. The Italian government has been keen to rid itself of the asset, which has been consistently unprofitable for decades. At this point, Lufthansa is the only interested party, meaning that a breakdown of talks would force the government to start the sale process anew. Lufthansa has entered remedies to get the deal over the line, Spohr said, and the two sides are now in the pro
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