Deutsche Lufthansa AG may seek a 40% stake in Alitalias successor ITA Airways, Italian newspaper Il Foglio reported, citing unnamed sources.

The plan, which could be announced in coming days, would be subject to European Union approval, the paper said. The two sides are close to agreement on issues including financial consolidation and turning Romes Fiumicino airport into a hub for flights to Africa and for part of flights to the U.S., according to the report.

Read More: Italys New Airline Gives Itself a Year to Find an Investor


ITA Chairman Alfredo Altavilla said on Jan. 12 that his company aims to pick up the pace to secure an

equity partnership by the middle of this year, adding that it was in talks with European and international companies.