ITA Airways joins Lufthansa as fifth network airline, 41% stake deal finalized
Italian carrier ITA Airways has become a part of the Lufthansa Group as its fifth network airline.
The deal between the Italian Ministry of Economy and Finance (MEF) and Lufthansa Group was finalized on January 18, 2025. The agreement gives Lufthansa Group a 41% ownership in ITA Airways, while MEF will keep the remaining 59%.
The two parties had agreed in May 2023 that Lufthansa Group would acquire a minority stake in ITA Airways. The European Commission gave its initial approval for this deal by accepting the proposed remedies on November 29, 2024. Other competition authorities outside the EU have also given their approval.
The investment began with a capital increase of €325 million. Lufthansa Group and MEF have agreed on options to acquire the remaining shares in ITA Airways, which can be exercised starting this year.
“With our investment, we will now strengthen the Italian and European aviation market,” said Carsten Spohr, CEO of Lufthansa Group. “Our joint passengers worldwide will benefit from improved offers and optimized connections as early as this upcoming summer flight schedule.”
Joerg Eberhart has been appointed as the new CEO of ITA Airways as part of the deal. Lorenza Maggio will take over the position of Chief Strategy and Integration Officer and join the Board of Directors of ITA Airways. Lastly, Michael Trestl will take on the position of ITA Implementation Officer.
Lufthansa reportedly wants to improve ITA Airways’ connectivity strategy and improve the number of connecting passengers using Rome’s Fiumicino Airport (FCO) as ITA Airways’ primary hub.
“Italy will thus become a further “home market” for the Lufthansa Group,” Spohr added. “The country is already the company’s second most important international market after the USA. The Rome Fiumicino Airport will be the sixth and southernmost Lufthansa Group hub.”
The regions of South America and Africa will be given the highest of priorities for the expansion and development of the Lufthansa Group worldwide. In terms of South American expansion, the Italian carrier will begin direct Rome to Bogotá flights in Colombia.
The carrier will also increase the frequency of flights to more Brazilian cities adding to the services it currently operates to Sao Paulo (GRU) and Rio de Janeiro (GIG). Additionally, Lufthansa is aiming to develop better connections to its US networks from Eastern Europe.
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The post ITA Airways joins Lufthansa as fifth network airline, 41% stake deal finalized appeared first on AeroTime.
Italian carrier ITA Airways has become a part of the Lufthansa Group as its fifth network airline. The…
The post ITA Airways joins Lufthansa as fifth network airline, 41% stake deal finalized appeared first on AeroTime.
