The Italian Ministry of Economy and Finance, MEF, and Europe’s largest aviation group completed the transaction today. As a result, the Lufthansa Group has a 41 percent stake in the Italian airline ITA Airways. MEF will initially hold the remaining 59 percent.
The two parties agreed in May of 2023 that Deutsche Lufthansa AG was to acquire a minority stake (41%) in ITA Airways. The European Commission recently approved the participating by approving the remedies in November 2024. Since then, participation has been approved by other competition authorities from outside the EU.
The first investment step was completed today through a capital raise of 325 millions euros. The Lufthansa group and MEF have agreed on options for the acquisition of remaining shares in ITA Airways. These can be exercised as early as this year. ITA Airways, which will become the Group’s 5th network airline after today’s transaction is completed, will now be part of the Lufthansa Group.
Carsten Spohr said, “We’re proud to welcome ITA Airways into the Lufthansa group.” I want to thank everyone involved, especially in Rome and Brussels, Berlin, and Frankfurt. The ITA Airways Team has been a huge success in recent years. With great energy, passion and experience, they have built a carrier that is the pride of a whole nation.
We look forward in continuing the success story of ITA Airways with you. Our investment will strengthen the Italian and European Aviation Market and the position of Lufthansa Group in Europe as the number one. “Our joint passengers in the world will benefit from improved offerings and optimized connections as soon as this summer’s flight schedule.”
Italy will become another “home market”, for the Lufthansa Group. It is already the company’s most important international market, behind the USA. The other home markets are Germany, Austria and Switzerland. Rome Fiumicino Airport is the sixth and most southern hub of the Lufthansa Group. Milan-Linate is a major airport in northern Italy, a region that is economically strong and has the second largest catchment zone in the EU. It will play a significant role within the Group.
Timely integration
ITA Airways will remain a strong brand, and be further developed. With the closing of today’s transaction, the Lufthansa Group will be able to conclude the first 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 will have the opportunity to earn and redeem miles on ITA Airways flights. Additional collaborations will follow, including joint codeshare connections and mutual use of respective lounges. More details will be provided to customers and partners as soon as possible.
ITA Airways, IATA flight code “AZ”, is a young airline which has grown since its inception in 2021. The modern, environmentally-friendly Airbus fleet, which currently has 99 aircraft, includes 22 long-haul Airbus A350-900 aircraft, Airbus A330-900neo aircraft and A330-200 planes. ITA Airways flies to almost 70 destinations around the world. The airline’s main bases are Rome Fiumicino (5 stars Skytrax) airport and Milan Linate. In 2024, the airline welcomed around 18 million passengers on board its aircraft.
Joerg Eberhart is appointed as new Chief Executive Officer (CEO) of ITA Airways. He is also the managing member of the Board of Directors of ITA Airways, an Italian airline based in Rome. Joerg eberhart will be taking over the duties previously performed on a temporary basis by Antonino turicchi and Andrea Benassi.
Lorenza Maggio, who will be taking over as “Chief Integration and Strategic Officer” (CSIO), will also become a member of ITA Airways’ Board of Directors. Lorenza Maggio, in this position will be responsible for the strategic development of ITA Airways and its integration into the Lufthansa Group.
Michael Trestl, who has been a member and Chief Commercial Officer of Austrian Airlines since 2021, will be responsible for the integration of ITA Airways within the Lufthansa Group. He will transfer to the Group headquarters at Frankfurt.
Carsten Spohr said, “I’m delighted that we are able to appoint two managers of our own ranks for the management ITA Airways. Joerg Eberhart & Lorenza Magngio.” “With their vast experience and expertise they will continue ITA Airways’ successful course and quickly incorporate the airline into the Lufthansa Group.” Michael Trestl will be an experienced airline manager who will take on the integration task within the group.”