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In May 2023, both parties agreed that Deutsche Lufthansa AG would take a 41 percent minority stake in ITA Airways.
Lufthansa Secures Stake in ITA Airways
ITA Airways has officially joined the Lufthansa Group as its newest member. The Italian Ministry of Economy and Finance (MEF) completed the transaction with Europe's leading aviation group, resulting in the Lufthansa Group acquiring a 41 percent share in ITA Airways. For now, MEF will maintain ownership of the remaining 59 percent.
In May 2023, both parties agreed that Deutsche Lufthansa AG would take a 41 percent minority stake in ITA Airways. The European Commission approved this move and necessary remedies on November 29, 2024. Additionally, competition authorities outside the EU have also given their approval.
Today marked the execution of the initial investment step, a capital increase of 325 million euros. The Lufthansa Group and MEF have established options to buy the remaining shares of ITA Airways, which can be activated starting this year. ITA Airways officially joins the Lufthansa Group as its fifth network airline with this transaction.
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Carsten Spohr, Chief Executive Officer Deutsche Lufthansa AG, says:
“We are proud to welcome ITA Airways to the Lufthansa Group finally. I want to thank everyone who has contributed to this, especially in Rome, Brussels, Berlin and Frankfurt. The ITA Airways team has written an impressive success story in recent years and, with great energy, passion and expertise, has built an airline already the pride of an entire nation. We look forward to continuing this success story of ITA Airways together. 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. Our joint passengers worldwide will benefit from improved offers and optimized connections as early as this upcoming summer flight schedule.”
Italy is set to become an additional “home market” for the Lufthansa Group. It currently ranks as the company's second most significant international market, following the USA, outside the established home markets of Germany, Austria, Switzerland, and Belgium. The five-star Rome Fiumicino Airport will serve as the sixth hub for the Lufthansa Group in the southernmost region. Additionally, Milan-Linate, a key metropolitan airport in economically vibrant northern Italy, boasts the second-largest catchment area in the EU and will have a pivotal role within the Group.
Timely Integration
ITA Airways will be retained as a strong brand and developed further. With today's transaction closing, the Lufthansa Group and ITA Airways can conclude the first cooperation agreements for their passengers. In a few weeks, ITA Airways frequent flyers will be able to collect their points or miles either in ITA Airways' existing “Volare” program or already in Miles & More, the Lufthansa Group's loyalty program. In addition, Miles & More participants can earn and redeem miles on ITA Airways flights. Further collaborations, such as joint codeshare connections, mutual use of the respective lounges and the planned admission to the Star Alliance aviation alliance, are to follow successively. Further details will be communicated to customers and partners on time.
ITA Airways is a relatively new airline that launched operations in 2021 and has since expanded. The airline boasts a fleet of 99 Airbus aircraft, including 22 long-haul Airbus A350-900 and A330-900neo models. ITA Airways services nearly 70 global destinations, with its primary hub at Milan Linate Airport. In 2024, the airline served approximately 18 million passengers.
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Joerg Eberhart has been appointed as the new Chief Executive Officer (CEO) of ITA Airways. He is also a managing member of the Board of Directors of the Italian airline, which is based in Rome. In this role, Joerg Eberhart will take over the tasks previously performed by Antonino Turicchi and Andrea Benassi in the interim.
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Lorenza Maggio will take over the position of “Chief Strategy and Integration Officer” (CSIO) and will become a member of the Board of Directors of ITA Airways. In this position, Lorenza Maggio will manage the strategic development of the airline and be responsible for its integration into the Lufthansa Group.
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Michael Trestl, who has been an Austrian Airlines executive board member and chief commercial officer (CCO) since 2021, will be responsible for the holistic integration of ITA Airways into the Lufthansa Group as “ITA Implementation Officer” and will transfer from Austrian Airlines to the Group headquarters in Frankfurt.
“I am delighted that we can appoint two managers from our ranks to manage ITA Airways: Joerg Eberhart and Lorenza Maggio,” says Carsten Spohr.
“With their extensive experience and expertise, they will continue ITA Airways' successful course and quickly integrate the airline into the Lufthansa Group. Michael Trestl, an experienced airline manager, will take over the integration task in the group.”