Lufthansa acquires minority stake in Italy's ITA Airways

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Lufthansa acquires minority stake in Italy's ITA Airways

Airports

Carsten Spohr, CEO of Deutsche Lufthansa | Deutsche Lufthansa

By Sky Industry News

Jan 17, 2025

The Lufthansa Group has officially acquired a 41 percent stake in ITA Airways, marking the Italian airline's entry into Europe's leading aviation group. The transaction was finalized today between the Italian Ministry of Economy and Finance (MEF) and Lufthansa. MEF retains the remaining 59 percent of ITA Airways for now.

This acquisition follows an agreement made in May 2023, where Deutsche Lufthansa AG planned to purchase a minority stake in ITA Airways. The European Commission approved this participation on November 29, 2024, with other international competition authorities following suit.

The initial investment involved a capital increase of 325 million euros. Options for acquiring the remaining shares have been arranged between Lufthansa and MEF, which can be exercised starting this year. With this move, ITA Airways becomes the fifth network airline within the Lufthansa Group.

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Carsten Spohr, CEO of Deutsche Lufthansa AG, expressed his enthusiasm: “We are proud to finally welcome ITA Airways to the Lufthansa Group... 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.”

Italy is set to become another "home market" for Lufthansa. The country already ranks as its second most important international market after the USA. Rome Fiumicino Airport will serve as a new hub for Lufthansa, while Milan-Linate will play a significant role due to its strategic location in northern Italy.

ITA Airways will maintain its brand identity while integrating into the larger group structure. Cooperation agreements are expected soon; frequent flyers from both airlines will benefit from shared loyalty programs like Miles & More.

Joerg Eberhart has been appointed CEO of ITA Airways and joins its Board of Directors based in Rome. Lorenza Maggio takes on the role of Chief Strategy and Integration Officer (CSIO), overseeing strategic development and integration efforts with Lufthansa. Michael Trestl assumes responsibility for integrating ITA Airways into Lufthansa as "ITA Implementation Officer."

Carsten Spohr commented on these appointments: “I am delighted that we can appoint two managers from our own ranks... With their extensive experience and expertise, they will continue ITA Airways' successful course.”

Further details about this acquisition will be shared at a press conference scheduled for February 3, 2025, in Rome.