Lufthansa will also have the option to later acquire the remaining shares from the Italian government, the parties have agreed. The purchase price for the remaining shares will be based on how ITA will develop in the coming years.
The acquisition of the minority interest is subject to approval by the relevant authorities. Upon completion of this transaction, ITA Airways and the Lufthansa Group will immediately enter into a commercial and operational partnership.
The Italian carrier will become the fifth network carrier within the Lufthansa Group, after Lufthansa, SWISS, Austrian Airlines and Brussels Airlines.
Lufthansa CEO Carsten Spohr: “Today’s agreement will lead to a win-win situation for Italy, ITA and the Lufthansa Group. And it is good news for the Italian consumer and for Europe, because a stronger ITA will increase competition in the Italian market. As a young company with a modern fleet and an efficient and growing hub in Rome, ITA is a perfect fit for us.”
ITA Airways was founded in November 2020 as the successor to the ailing Alitalia, and now has about 4,000 employees. The airline, headquartered in Rome, transports more than 10 million passengers a year with a fleet of 66 Airbuses. Lufthansa wants to make Rome an important hub for travelers to Latin America and Africa.