Lufthansa Group Acquires 41% Stake in ITA Airways in $353 Million Deal

GuruFocus

20 Jan

With a €325 million ($353 million) capital investment, the Lufthansa Group (DLAKY, Financials) has completed its purchase of a 41% share in ITA Airways, therefore significantly extending its European network. Remaining 59% of the airline is retained by the Italian Ministry of Economy and Finance.

Along with Lufthansa, SWISS, Austrian Airlines, and Brussels Airlines, this investment puts ITA Airways sixth network carrier within Lufthansa Group. While gaining from affiliation with Lufthansa's reward program, Miles & More, and the possibility to join the Star Alliance, ITA Airways will remain an independent brand. By means of the summer 2025 flight schedule, the organization seeks for flawless cooperation and improved passenger offers.

German Lufthansa AG CEO Carsten Spohr underlined how the action benefits European and Italian aviation industries. With Milan Linate's strategic position in northern Italy, Italy is now regarded as a "home market" for the Lufthansa Group; Rome Fiumicino acts as a hub and is rather important.

Joerg Eberhart has been designated CEO of ITA Airways under terms of the agreement; Lorenza Maggio is Chief Strategy and Integration Officer. Michael Trestl will supervise the integration of ITA Airways into the Lufthansa Group. A news conference in Rome on February 3, 2025 will go over further updates.

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