Germany’s Lufthansa Group has completed its long-sought acquisition of Italian carrier ITA Airways, finalising on 17 January a two-fifths stake in the company.
ITA becomes the fifth network airline in Lufthansa Group, joining Lufthansa Airlines, Swiss International Air Lines, Austrian Airlines and Brussels Airlines.
Lufthansa Group says the €325 million ($334 million) capital increase was approved by the Italian ministry of economy and finance, which will retain its 59% shareholding of ITA. The remaining 41% stake in ITA has been transferred to Lufthansa Group.
The tie-up’s approval follows months of investigation into potential market impacts.
The parties had agreed to the deal in May 2023, but the European Commission did not grant its blessing until late November, after three operators – EasyJet, IAG and Air France-KLM – were accepted as remedy-taking candidates to ease anti-competitive concerns related to certain routes and airport slots.
“We are proud to finally welcome ITA Airways to the Lufthansa Group,” says Carsten Spohr, chief executive of Deutsche Lufthansa AG. ”I would like to thank everyone who has contributed to this, especially in Rome, Brussels, Berlin and Frankfurt.
”The ITA Airways team has written an impressive success story in recent years and, with great energy, passion and expertise, has built an airline that is already the pride of an entire nation.”
Lufthansa identifies Italy as its second-most important international market after the USA, outside its stronghold in Germany, Austria, Switzerland and Belgium.
Rome Fiumicino airport will become the “sixth and southernmost” hub in Lufthansa Group, while Milan-Linate airport in northern Italy will serve as another key base.
Elsewhere on the airline consolidation front, the European Commission approved late last year Korean Air’s acquisition of Asiana, which will be absorbed by end-2026.
In Latin America, Abra Group and Brazilian carrier Azul recently entered a memorandum of understanding (MoU) to explore a combination that would create Brazil’s largest airline via a tie-up with Gol.
