Lufthansa Group finalises 41% stake in ITA Airways

Lufthansa Group finalised (17-Jan-2025) its acquisition of a 41% stake in Italia Trasporto Aereo (ITA Airways), completing the approved transaction of a EUR325 million capital increase. As previously reported by CAPA, the remaining 59% will initially remain held by Italy's Ministry of Economy and Finance (MEF), with options for Lufthansa Group to acquire the remaining shares able to be exercised from 2025. ITA becomes Lufthansa Group's fifth network airline and Rome Fiumicino Airport becomes the group's sixth and southernmost hub. ITA's Volare loyalty programme will be integrated with Lufthansa Group's Miles & More programme "in a few weeks", with further collaborations such as joint codeshare connections, mutual use of lounges and ITA's planned admission to Star Alliance "to follow successively". As part of the integration, Lorenza Maggio will take over as ITA chief strategy and integration officer and Michael Trestl will transfer from his position as Austrian Airlines CCO to ITA implementation officer, becoming responsible for the holistic integration of ITA into the group. As previously reported by CAPA, Joerg Eberhart was appointed as ITA CEO, taking over tasks previously performed on an interim basis by Antonino Turicchi and Andrea Benassi. Both Mr Eberhart and Ms Maggio were appointed to the ITA board of directors. [more - original PR]