Shareholders in Italian carrier ITA Airways have approved a capital increase of €325 million ($338 million) enabling Lufthansa Group to take a shareholding in the operator.
ITA Airways says Lufthansa Group will be offered the capital, adding that it needs to subscribe by 15 January.
This will enable the German company to enter the shareholder structure of ITA with a 41% stake.
Newly-approved company by-laws to regulate the joint management will also become effective upon Lufthansa’s entry to ITA, and a shareholders’ meeting will be held to appoint a new board of directors and formally implement agreements signed last year.
“Completion of these formalities will mark the beginning of a new era for national and continental air transport,” says ITA.
Lufthansa Group secured competition clearance for its planned investment in ITA in November after the European Commission accepted remedies for certain routes and airport slots.
