Photo: Lufthansa Group The Lufthansa Group announced that it will exercise its option to increase its holdings in ITA Airways from 41% to 90% as early as June, a move that constitutes a significant step towards full takeover of the Italian flag carrier.
According to the announcement, Lufthansa will acquire an additional 49% of ITA Airways shares for €325 million. The transaction is subject to regulatory approvals, primarily from the European Commission and the US Department of Justice, and is expected to be completed in the first quarter of 2027.
The Lufthansa Group notes that ITA Airways is already effectively integrated into most of the group's areas of activity as its fifth network company, including reservation and sales systems, the Miles & More frequent flyer club, Star Alliance membership, and access to the group's lounge network worldwide.
Lufthansa Group CEO Carsten Spohr said the company had promised to complete most of the integration steps within 18 months and had even exceeded its target. He said significant progress had also been made in the air cargo sector, with Lufthansa Cargo marketing ITA Airways' cargo capacity since last year, which he said was equivalent to the addition of three Boeing 777 freighters.
The Italian Ministry of Economy and Finance will initially continue to hold 10% of the remaining shares, with Lufthansa having the option to purchase them as well in 2028.
Photo: Lufthansa Group