The die is cast. The final signature, a new board of directors, a new managing director and chairman, Joerg Eberhart and Sandro Pappalardo. On 15 January ITA Airways officially fell within the remit of the German colossus which, despite now holding “only” 41% of the capital (the remaining 59% is still in the hands of the Italian Ministry of Economy and Finance) has practically obtained full control of ITA, effectively holding the operational roles, primarily that of managing director.
Fine. Now the ball is truly in the hands of the Germans who will need to showcase on the ground all the untapped potential of the carrier reborn from the ashes of the old Alitalia. Of which, let’s not forget, it holds the glorious brand, purchased in 2021 to the sum of €90 million.
Carsten Spohr, CEO of the Lufthansa group, said in the days immediately preceding the closing that “ITA is the biggest acquisition in the history of Lufthansa. Without the prospect of a nine-figure profit contribution, we would not have taken this step.” High hopes consequently for ITA which, according to the industrial plan agreed with the Germans, should make a profit as early as 2025, the Jubilee year, from which a significant increase in traffic at Rome Fiumicino is expected. Strategic synergies to be created with the group's other carriers - Swiss, Austrian Airlines, Brussels Airlines and Eurowings – are estimated at generating savings of around €300 million.
The Roman hub is where LH's ambitions are centered, as from here the ITA network to Africa and South America will see an increase in frequencies, with new routes to Bogotà in Colombia and other destinations in Brazil. At the same time unprofitable routes will be abandoned to concentrate on more profitable segments, such as the leisure market and Eastern Europe. The aim being to intercept passenger demand towards North America, centered specifically on long-haul flights from Fiumicino. And Air Dolomiti, the historic Italian jewel that has been a member of the German group for 26 years, will additionally be tasked with transporting passengers to ITA's intercontinental flights
Mariella Cattaneo
Journalist
