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Lufthansa Group to Acquire 41 Per Cent Stake in ITA Airways

Our Bureau - : May 27, 2023 - : 1:55 am

Deutsche Lufthansa AG (Lufthansa) will acquire a 41% stake in ITA Airways through a capital increase of €325 million (£283 million), according to an agreement the Group has reached with the Italian Ministry of Economy (Ministero dell’Economia e delle Finanze, MEF).

As part of the agreement, the MEF has also committed to a capital increase of €250 million into ITA. Lufthansa has also included the option to acquire the remaining 59% of the carrier’s shares at a later date. The purchase price for the remaining shares will be based on the business development of ITA Airways.

ITA Airways will be Lufthansa Group’s fifth network carrier in its multi-brand and multi-hub system. As part of Lufthansa Group, ITA will remain a standalone airline with its own management – in line with Lufthansa Group’s successful multi-hub, multi-brand and multi-AOC strategy. The acquisition of the minority stake is subject to approval by the relevant authorities.

“Today’s agreement will lead to a win-win situation for Italy, ITA Airways and Lufthansa Group,” said Carsten Spohr, Lufthansa Chief Executive Officer. “And it is good news for Italian consumers and for Europe, because a stronger ITA will invigorate competition in the Italian market. As a young company with a modern fleet, and with its efficient and expanding hub in Rome, ITA is a perfect fit for Lufthansa Group.”

Founded in November 2020, ITA Airways has roughly 4,000 employees today. Headquartered in Rome, the airline has catered for more than 10 million passengers per year while operating a modern fleet of 66 Airbus aircraft.


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