Alerts Sign-up
The Lufthansa Group's acquisition of a 41% stake in ITA Airways has been delayed due to a disagreement over the roles and responsibilities of the incoming CEO and President of the Italian airline. The delay was reported by Corriere Della Sera, citing sources familiar with the situation.
The disagreement is between Lufthansa Group and Italy's Ministry of Economy and Finance (MEF), which have not reached an agreement on the authority and responsibilities of ITA Airways' new CEO, appointed by Lufthansa, and its President, designated by MEF. As a result, the finalization of the deal has been postponed to at least January 15.
Jörg Eberhart, former CEO of Air Dolomiti and current Head of Strategy at Lufthansa Group, is expected to become ITA Airways' chief executive. Reuters had previously reported that the acquisition was supposed to close on January 13, allowing Lufthansa to integrate ITA into its multi-brand strategy with Rome Leonardo da Vinci International Airport as a hub.
