Tourexpi
The
Italian Ministry of Economy and Finance (MEF) and Europe's leading aviation group
concluded the transaction today. As a result, the Lufthansa Group has a 41 percent
stake in the Italian airline ITA Airways. The remaining 59 percent will initially
continue to be held by MEF.
The
two parties had already agreed in May 2023 that Deutsche Lufthansa AG would acquire
a minority stake of 41 percent in ITA Airways. The European Commission had recently
approved the participation by approving the remedies on 29 November 2024. Other
competition authorities outside the EU have since also approved the participation.
The
first step of the investment was implemented today by means of a capital increase
of 325 million euros. Options for the acquisition of the remaining shares in ITA
Airways have been agreed between the Lufthansa Group and MEF and can be exercised
from this year. With today's transaction, ITA Airways is part of the Lufthansa Group
and will be the Group's fifth network airline.
Carsten
Spohr, Chief Executive Officer Deutsche Lufthansa AG, says:
“We
are proud to finally welcome ITA Airways to the Lufthansa Group. I would like 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 that is
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
will thus become a further “home market” for the Lufthansa Group. The country is
already the company's second most important international market after the USA,
outside the existing home markets of Germany, Austria, Switzerland and Belgium.
The five-star Rome Fiumicino Airport will be the sixth and southernmost Lufthansa
Group hub. Milan-Linate, as a metropolitan airport in the economically strong northern
Italy region with the second largest catchment area in the EU, will play a prominent
role in the Group.
Timely
integration
ITA
Airways will be retained as a strong brand and developed further. With today's closing
of the transaction, 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 will have the opportunity to 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 in a timely manner.
ITA
Airways (IATA flight number code “AZ”) is a young airline that has been growing
since it started operating in 2021. Its modern, environmentally friendly Airbus
fleet currently numbers 99 aircraft, including 22 long-haul Airbus A350-900, Airbus
A330-900neo and A330-200 aircraft. ITA Airways flies to almost 70 destinations around
the world. The airline's home base is its Rome Fiumicino (5-star Skytrax) and Milan
Linate airport. In 2024, the airline welcomed around 18 million passengers on board
its aircraft.
Joerg
Eberhart (54) is appointed as 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 on an interim basis by Antonino Turicchi and Andrea Benassi.
Lorenza
Maggio (47) 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.
Michael
Trestl (39) 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 for this purpose. Michael Trestl
has been a member of the Austrian Airlines Executive Board and Chief Commercial
Officer (CCO) since 2021.
“I
am delighted that we can appoint two managers from our own ranks to the management
of 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. With Michael Trestl,
an experienced airline manager will take over the integration task in the group.”
Image
Credit: © Lufthansa Group
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