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Italian court approves Lufthansa’s acquisition of 41% stake in ITA Airways

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The Italian Court of Auditors approved Friday that the German airline Lufthansa can take a 41% stake in ITA Airways, born from the liquidation of the old Alitalia and for which the State has been looking for a partner for years.

The Italian Ministry of Economy had already confirmed the operation in May, but it still needed the approval of the country’s fiscal body which, in a statement, has detailed that the German airline will acquire a 41% stake in the share capital of ITA Airways with an investment of 325 million euros.

→ ITA Airways takes delivery of its first A330neo

According to the Court of Auditors, the business plan shared between the Italian State and Lufthansa foresees a growth in ITA’s revenues from the €2.5 billion forecast for this year to €4.1 billion in 2027.

In May, the Italian Ministry of Economy, until now the sole owner of ITA Airways, confirmed the deal after meeting in Rome with Lufthansa CEO Carsten Sphor and the Italian company’s president, Antonino Turicchi.

“Today marks the end of a path that has marked the history of the national airline with the prospect of integration into a major European airline,” celebrated Giancarlo Giorgetti, head of Economy.

The agreement still requires the approval of the European Commission’s Directorate General for Competition, EFE reported.

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