With the acquisition of 41% of Ita Airways by Lufthansa, a path that has marked the history of the national flag carrier comes to an end with the prospect of integration with a major European carrier.
After 40 years, a knot conditioning the air transport market in Italy is untied and a long-standing affair of wasted public resources and state aid is brought to a positive conclusion.
A major industrial operation that allows ITA to continue to be the airline of reference and to represent the country throughout the world, guaranteeing national and international connections to support the development of tourist flows and the Italian air market.
The operation will allow the growth and renewal of the fleet, which at the end of 2027 will have 94 aircraft compared to the current 71, with an average age of five years, and will ensure optimisation of fuel consumption and environmental impact. At the end of the Plan the workforce will increase to over 5,500.
ITA Airways’ strategy is to establish itself as a leading full-service carrier in the three sectors intercontinental, international and domestic, with a focus on long-haul traffic. This strategic repositioning will make it possible to better feed the traffic of the Rome Fiumicino hub, which will thus play a central role in the Lufthansa Group’s multi-hub model.
Steps of the operation
- On 21 December 2022 the Italian Council of Ministers approved a Prime Ministerial Decree (published in the Italian Official Gazette on 2 January 2023) to speed up the procedures for divesting MEF’s shareholding in Ita S.p.A., in which the business plan of the airline’s candidate buyer is of significant importance for the sale.
- On 18 January 2023 MEF received a letter of intent from Deutsche Lufthansa AG to acquire a minority stake in Ita Airways S.p.A.
- On 25 May 2023 Italian Minister of Economy and Finance Giancarlo Giorgetti meets Deutsche Lufthansa CEO Carsten Spohr to confirm the conclusion of Lufthansa’s investment agreement in Ita Airways. The contract signed by MEF, the German company and Ita provides for the following objectives for the two-year period 2023-2024: Lufthansa will acquire a 41% stake in the share capital of ITA Airways for an investment of EUR 325 million. The 2023-2027 business plan shared between MEF and Lufthansa foresees a growth in revenues from the EUR 2.5 billion expected this year to EUR 4.1 billion projected for 2027.
- On 16 June 2023 the Italian Court of Auditors recorded the deed of approval of the agreement for the sale of a minority stake in ITA Airways to Deutsche Lufthansa.
- On 30 November 2023 the MEF formally notified the European Commission’s Directorate-General for Competition of the merger operation involving the entry of Deutsche Lufthansa in the capital of ITA Airways.
- On 3 July 2024 came the go-ahead from the Antitrust Authority. Lufthansa will acquire 41% of ITA Airways from MEF through a capital increase of EUR 325 million. The process of acquiring further shares will be gradual up to 2029.
- On 15 January 2025 the ordinary shareholders’ meeting of Ita Airways appointed the company’s new board of directors.
Press releases
- Lufthansa and ITA confirm agreement | May 25, 2023
- ITA-Lufthansa operation notified to the EU Commission | November 30, 2023
- ITA, Mef has received the dossier and is working towards a positive solution | March 25, 2024
- Italy and Lufthansa submit remedies | May 7, 2024
- Mef responded to latest EU commission doubts on Ita-Lufthansa | June 18, 2024
- Commission clears proposed acquisition of stake in ITA Airways by Lufthansa, subject to conditions | July 3, 2024
- ITA Airways-Lufthansa agreement: MEF sends corrective measures to Brussels. No changes to the agreed economic conditions | November 11, 2024