Lufthansa Group Finalizes 41% Stake in ITA Airways

Our Bureau - : Jan 19, 2025 - : 12:35 am

Italian airline ITA Airways is now a member of the Lufthansa Group and will be the Group's fifth network airline. The Italian Ministry of Economy and Finance (MEF) and Europe's leading aviation group concluded the transaction on Saturday by which...

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Italian airline ITA Airways is now a member of the Lufthansa Group and will be the Group's fifth network airline.

The Italian Ministry of Economy and Finance (MEF) and Europe's leading aviation group concluded the transaction on Saturday by which the Lufthansa Group has a 41% stake in ITA Airways. The remaining 59 percent will initially continue to be held by MEF. A transaction of a capital increase of 325 million euros by the Group to ITA Airways has been completed.

The two parties had agreed in May 2023 that Deutsche Lufthansa AG would acquire a minority stake of 41 percent in ITA Airways. The European Commission had recently approved the participation by approving the remedies on Nov. 29, 2024.

The first step of the investment was implemented today by means of a capital increase of 325 million euros. Options for the acquisition of the remaining shares in ITA Airways have been agreed between the Lufthansa Group and MEF and can be exercised from this year.

"We are proud to finally welcome ITA Airways to the Lufthansa Group," said Carsten Spohr, Chief Executive Officer Deutsche Lufthansa AG. "I would like to thank everyone who has contributed to this, especially in Rome, Brussels, Berlin and Frankfurt. The ITA Airways team has written an impressive success story in recent years and, with great energy, passion and expertise, has built an airline that is already the pride of an entire nation. We look forward to continuing this success story of ITA Airways together. With our investment, we will now strengthen the Italian and European aviation market and the position of the Lufthansa Group as number one in Europe. Our joint passengers worldwide will benefit from improved offers and optimized connections as early as this upcoming summer flight schedule."

Italy is already the Lufthansa Group's second most important international market after the USA, outside the existing home markets of Germany, Austria, Switzerland and Belgium. The Rome Fiumicino Airport will be the sixth and southernmost Lufthansa Group hub.

With the closing of the transaction, the Lufthansa Group and ITA Airways can conclude the first cooperation agreements for their passengers. Further collaborations, such as joint codeshare connections, mutual use of the respective lounges and the planned admission to the Star Alliance aviation alliance, are to follow successively. Further details will be communicated to customers and partners in a timely manner.

ITA Airways, which has been operating since 2021, has an Airbus fleet currently numbering 99 aircraft, including 22 long-haul Airbus A350-900, Airbus A330-900neo and A330-200 aircraft. ITA Airways flies to almost 70 destinations around the world.

Joerg Eberhart has been appointed as new Chief Executive Officer (CEO) of ITA Airways. Lorenza Maggio will take over the position of "Chief Strategy and Integration Officer" (CSIO) and will become a member of the Board of Directors of ITA Airways. Michael Trestl will be responsible for the holistic integration of ITA Airways into the Lufthansa Group as "ITA Implementation Officer."

Lufthansa-group / Ita-airways / Deutsche-lufthansa-ag / Italian-ministry-of-economy-and-finance-mef /

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