Le Lufthansa Group confirmed during the presentation of its results at the general meeting of its shareholders that it would next June exercise its option to acquire a majority stake in ITA Airways. This transaction will increase its stake in the capital from 41.1% to 90.1%. The Supervisory Board approved this decision by the Lufthansa Executive Board at its meeting on 12 May.
The acquisition of the additional 49 % shares will be completed for €325 million, in line with the previously agreed price. The transaction remains subject to regulatory approvals, notably from the European Commission and the US Department of Justice (DOJ), and is expected to be finalised in the first quarter of 2027. By that time, ITA Airways will be fully integrated into the Lufthansa Group, both organisationally and financially.
Lufthansa's rise in ITA is both progressive and inexorable. As of January 17, 2025, the German company holds a 41.1% stake in ITA Airways as a minority shareholder. When the agreement with the Italian Ministry of Economy and Finance was signed in June 2023, an annual option was included allowing Lufthansa to acquire a further 49% of the share capital. This option has now been exercised, with the German airline taking control of the Italian carrier. The Ministry will initially retain the remaining 10 per cent, a stake that Lufthansa could also acquire in 2028.
On the occasion of the group's annual general meeting, Carsten Spohr, Chairman of the Executive Board of Lufthansa Group, highlighted the speed of ITA Airways’ integration into the group. “ Following the acquisition of the first 41 % aircraft from ITA Airways last year, we promised the fastest airline integration in our history. Our aim was to complete the key stages of integration into the Lufthansa Group in just 18 months "he said.
According to him, this promise was even kept sooner than expected. « All customer-facing interfaces are already integrated today, with the exception of transatlantic flights to North America, for which the regulatory approvals related to our merger are still pending. "
Passengers on ITA Airways already benefit from the Lufthansa Group's main services, including unified booking, sales, and pricing systems, the Miles & More loyalty programme, membership of Star Alliance, and access to the group's global network of premium lounges.
Integration is also progressing in air freight. Since last year, Lufthansa Cargo markets ITA Airways’ cargo capacity, equivalent to three additional Boeing 777 freighters. On the strength of these results, Lufthansa has decided to exercise its option this year to acquire an additional 49% stake in ITA Airways.
