The Lufthansa Group has completed its acquisition of a 41% stake in ITA Airways through a 325 million euro capital increase, finalized last Friday with Italy’s Ministry of Economy and Finanzas (MEF). MEF retains the remaining 59% stake.
The deal, first agreed in May 2023, received approval from the European Commission on November 29, 2024, following commitments including slot transfers at Milan Linate airport to competitors on short-haul routes and route allocations to enhance competition in Italy. Non-EU competition authorities also cleared the transaction.
ITA Airways now joins Lufthansa as its fifth network airline, integrating into the group’s multi-hub structure while keeping its brand and premium focus. The airline operates a fleet of 96 Airbus aircraft serving 69 destinations, bolstering Lufthansa’s presence in Italy, its second-largest international market after the US.
Options for Lufthansa to purchase additional shares from MEF are set to become exercisable this year. Early collaborations include reciprocal mileage accrual between ITA’s Volare program and Lufthansa’s Miles & More. Joerg Eberhart has been appointed ITA Airways’ new CEO following board changes.