Transaction between airlines generated 325 million euros; Italian government still owns most of the company
Lufthansa this Friday (17 January 2025) finalized the purchase of 41% of Ita Airways. Participation cost 325 million euros. The other 59% remains under the control of the Italian government.
With the transaction, the Italian airline became another company in the Lufthansa Group conglomerate, which also includes Swiss Airlines, Austrian Airlines, Eurowings and Brussels Airlines. The agreement was closed in May 2023, but was only completed after the European Commission approved the purchase in November 2024.
“We look forward to continuing ITA Airways’ success story together. With our investment, we will now strengthen the Italian and European aviation market and the Lufthansa Group’s position as number one in Europe”, said the company’s CEO, Casten Spohr.
The transition will be gradual, according to the company. In a few weeks, users of the Ita Airways miles program will be able to transfer their benefits to the Lufthansa program and users of the German program will be able to use their points for travel on the Italian airline’s routes.
Changes to the organizational chart were also included in the announcement. Joerg Eberhart takes over as CEO of Ita Airways. The businessman was appointed by the Italian government to the administrative board.
