Lufthansa can even have the choice to later purchase the remaining shares from the Italian authorities, the events have agreed. The acquisition value for the remaining shares will probably be primarily based on how ITA will develop within the coming years.
The acquisition of the minority curiosity is topic to approval by the related authorities. Upon completion of this transaction, ITA Airways and the Lufthansa Group will instantly enter right into a industrial and operational partnership.
The Italian provider will develop into the fifth community provider inside the Lufthansa Group, after Lufthansa, SWISS, Austrian Airways and Brussels Airways.
Lufthansa CEO Carsten Spohr: “At present’s settlement will result in a win-win scenario for Italy, ITA and the Lufthansa Group. And it’s excellent news for the Italian shopper and for Europe, as a result of a stronger ITA will enhance competitors within the Italian market. As a younger firm with a contemporary fleet and an environment friendly and rising hub in Rome, ITA is an ideal match for us.”
ITA Airways was based in November 2020 because the successor to the ailing Alitalia, and now has about 4,000 staff. The airline, headquartered in Rome, transports greater than 10 million passengers a yr with a fleet of 66 Airbuses. Lufthansa needs to make Rome an necessary hub for vacationers to Latin America and Africa.