Lufthansa increases share in Ita Airways to 90 per cent: integration and strategic growth by 2027
The acquisition of the additional 49% stake will take place at the already agreed purchase price of EUR 325m. The option will be exercised in June and the transaction is expected to close in the first quarter of next year, after the OK from Brussels
by Giorgio Pogliotti
Key points
Lufthansa will exercise its option to acquire a majority stake in Ita Airways in June this year, increasing its stake from 41% to 90%. The acquisition of the additional 49% stake will take place at the already agreed purchase price of EUR 325 million. The transaction is subject to regulatory approvals, mainly from the European Commission and the US Department of Justice (DOJ), and is expected to close in the first quarter of 2027.
As a result, Ita Airways will be fully integrated into the Lufthansa Group, both organisationally and financially. The deal was announced after the supervisory board gave the green light to the decision taken by the board of directors of the German skies giant.
Main milestones: in 2028 the option on the remaining 10%
As of 17 January 2025, Deutsche Lufthansa AG holds a 41% minority stake in Ita Airways. With the conclusion of the purchase agreement with the Ministry of Economy and Finance in June 2023, an annual option to acquire a further 49% of Ita had been agreed. This option is now being exercised in conjunction with the acquisition of the controlling stake from the Mef, which will initially continue to hold the remaining 10% of the capital. This share can also be acquired by Lufthansa in 2028.
The synergies on bookings, sales and the Miles & More programme
The increasing integration into the Lufthansa Group will allow Ita Airways to develop further industrial and commercial synergies with the Group's carriers, while preserving its Italian identity. For the Company, this is an opportunity to consolidate its role as Italy's reference carrier, contributing to the growth of the country's connectivity and to the enhancement of Made in Italia in the world.
"Passengers already perceive ITA Airways as an integral part of the Lufthansa Group, thanks to unified booking, sales and fare systems, the Miles & More frequent flyer programme, Star Alliance membership and access to the global premium lounge network," said Carsten Spohr, CEO of the Lufthansa Group and Chairman of the Board of Directors of Deutsche Lufthansa AG . Integration is also progressing in cargo: since last year, Lufthansa Cargo has been marketing ITA Airways' cargo capacity, equivalent to the additional capacity of three Boeing 777 freighters. In light of these results, we have decided to bring forward to June the exercise of the option to acquire an additional 49%'.
