During a shareholders' meeting on December 20, ITA Airways approved a capital increase to be offered to Lufthansa Group. This move will allow the German airline group to acquire an initial stake in the Italian carrier.
ITA Airways held an extraordinary shareholders' meeting where it approved a €325 million ($338 million) capital increase exclusively for Lufthansa Group. The German company has until January 15, 2025, to subscribe and acquire a 41% stake in ITA Airways.
The Italian airline also approved new by-laws, which include changes to management prerogatives and rights for its current shareholder, the Italian Ministry of Economy and Finance (MEF), as well as the new stakeholder, Lufthansa Group. These by-laws will become effective once Lufthansa subscribes to the capital increase. An ordinary shareholders' meeting is planned afterward to enable MEF and Lufthansa Group to appoint a new board of directors.