Italia Trasporto Aereo (ITA Airways)
About
Italia Trasporto Aereo, trading as ITA Airways, is the flag carrier of Italy. The airline commenced services on 15-Oct-2021 and replaced previous flag carrier, Alitalia. ITA purchased the Alitalia brand for EUR90 million in Oct-2021, however was required by the European Commission to display clear discontinuity between the two companies, in order to permit the injection of state funds.
Lufthansa Group, Italy's Ministry of Economy and Finance MEF and ITA Airways welcomed the European Commission's approval of Lufthansa Group's acquisition of a 41% stake in ITA Airways in Jul-2024. The acquisition includes subsequent options to acquire the remaining shares for a capital contribution of EUR325 million, as agreed in May-2023. The investment will be completed through a capital increase, with the transaction expected to close in 4Q2024.
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