The German airline Deutsche Lufthansa AG has completed the acquisition of a minority stake in the Italian airline ITA Airways (Italia Trasporto Aereo S.p.A.). This is reported in a press release from Lufthansa.
According to the proposal published in January 2024, the German airline acquired 41% of the shares of ITA Airways for 325 million euros ($334 million), with 59% initially owned by the Italian Ministry of Economy and Finance, with the right of Lufthansa to buy back the remaining shares in 2025.
The deal is in line with Lufthansa's strategy to expand its operations in the aviation market, taking into account Italy's advantageous geographical location and economic development. ITA Airways will become the fifth network carrier in the structure of the Lufthansa Group, but will retain its independent status and gain access to the partner network, centralized revenue management and the use of global sales and marketing channels of the Lufthansa Group.
In July 2024, the European Commission approved the deal after an in-depth investigation, taking into account concessions aimed at maintaining fair competition on key long-haul routes from Italy to the rest of Europe and North America.
The proposal provided for the exchange of flight routes with competitors from Rome and Milan airports, as well as the cancellation of eight European routes, including routes from German and Swiss cities, and the limitation of minimum passenger capacity on flights to the United States, Canada and Japan.
ITA Airways is the successor company to the bankrupt Italian flagship Alitalia, headquartered in Rome (Italy). The company serves more than 10 million passengers per year and has a modern fleet of 66 Airbus aircraft for air transportation on 20 domestic, 33 international and 10 intercontinental routes.
Lufthansa is Germany's national airline and Europe's largest airline concern, which includes Swiss International Airlines, Austrian Airlines and the Belgian airline Brussels Air. The headquarters is located in Frankfurt am Main, the main hubs are at the airports of Frankfurt, Munich and Dusseldorf.
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