"Lufthansa will exercise its option to acquire a majority stake in ITA Airways in June this year, increasing its holding from 41% to 90%" reads an official airline statement.
Carsten Spohr: "Faster than expected"
The move was commented by Carsten Spohr, CEO of the Lufthansa Group and chairman of the executive board of Deutsche Lufthansa, as "Faster than expected." The acquisition of the additional 49% stake will take place at the previously agreed price of €325 million, continued the airline's note. The transaction is subject to regulatory approvals, primarily from the European Commission and the US Department of Justice (DOJ) and is expected to be completed in the first quarter of 2027. Following this, ITA Airways will be fully integrated into the Lufthansa Group, both organizationally and financially.
ITA Airways will continue to operate under its own brand
ITA is thus preparing to enter a new phase of growth within the Lufthansa Group, strengthening its position in the European and international air transport market. ITA Airways will continue to operate under its own brand, which will be retained and promoted within the group’s structure. “The ‘ITA Airways’ brand today represents a young, distinctive and recognizable identity, strongly linked to Italy and to the values of quality, innovation, reliability and customer care that characterize the company,” said Joerg Eberhart, ITA Airways' CEO and general manager.
Industrial synergies
Increasing integration will enable the carrier to develop further industrial and commercial synergies with the group’s carriers, whilst preserving its Italian identity. “This new phase represents a step of great industrial and strategic significance for Ita Airways. In recent years, we have built a solid, recognizable and quality-oriented company, thanks to the contribution of our people and the trust of our customers, and Deutsche Lufthansa’s decision is proof of the good work done so far,- said Joerg Eberhart, CEO and General Manager of ITA Airways. -We look to the future with ambition and responsibility: full integration into the Lufthansa Group will allow us to compete more effectively on international markets, whilst continuing to showcase Italy’s value, its connectivity and its capacity for innovation to the world."
Passenger and cargo integration
“Following the acquisition of our initial 41% stake in ITA Airways last year, we promised the fastest integration of an airline in our history. Our goal was to complete all the main stages of integration into the Lufthansa Group in just 18 months. Not only have we kept this promise, but we have also been faster: all customer-facing interfaces are already integrated today, with the exception of flights across the North Atlantic, where, as is well known, regulatory approval of our merger is still pending.” Integration is also progressing in the cargo sector: “Since last year, Lufthansa Cargo has been marketing Ita Airways’ cargo capacity, which alone corresponds to the additional capacity of three Boeing 777 cargo aircraft. In light of this success, we decided to exercise our option as early as June this year.”
