Lufthansa: acquires 41% of ITA Airways

(CercleFinance.com) - Lufthansa has announced that it has taken a 41% stake in ITA Airways, the Italian airline that has succeeded Alitalia since the latter's bankruptcy in 2021, an operation that will enable it to integrate the company into its group.


The German carrier specifies that the transaction was carried out through a capital increase of E325m, with the option to buy the remaining 59% of the capital from the Italian government within one year.

The transaction, initially announced for May 2023, was approved by the European Commission last November.

Under the terms of this investment, ITA Airways will officially become Lufthansa's fifth operating subsidiary, after Swiss, Austrian Airlines, Brussels Airlines and Eurowings.

With the change in ITA Airways' shareholder structure, Lufthansa has been able to appoint Joerg Eberhart, a 54-year-old in-house executive, as CEO, and Lorenza Maggio (47) as Head of Strategy and Integration.

ITA Airways, which will rise from the ashes of Italia in 2021, currently employs some 5,000 people and operates a fleet of 99 Airbus aircraft, serving 69 destinations.


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