MILAN (Reuters – Germany’s Lufthansa plans to purchase a 40% stake at Alitalia’s successor ITA Airways. A deal may be revealed next week, Il Foglio in Italy reported Saturday.

ITA Airways began flying in October 2015 with almost 2,300 employees. It has a smaller fleet than Alitalia’s 75-year-old symbol of Italian glamour and style, and it was the first airline to fly.

There was no price listed in the newspaper for any of these deals.

A spokesperson for ITA stated that top management of the airline would submit a plan to board Jan. 31 and that a data room would open in the days following, according to a Thursday parliamentary hearing.

According to sources, Reuters was informed by sources on January 12th that the Italian airline had been in touch with Lufthansa and British Airways, as well as Delta Air Lines (NYSE :), based in the United States, for an equity partnership. They also indicated that formal negotiations could begin before the end March.

Lufthansa did not respond to a request for comment Saturday, but a spokesperson stated that they were open to the idea of a partnership between ITA and Lufthansa.

Delta denies that it intends to invest in ITA.

Il Foglio reports that Lufthansa is close to reaching an agreement with ITA over key terms, including the use of Fiumicino as a hub to provide direct flights to Africa as well as some routes to Americas.

According to the paper, approval by the European Union will be required for this deal.