EU approves Lufthansa stake in ITA Airways


EU approves Lufthansa stake in ITA Airways

Thursday, 04 Jul, 2024 0

The EU Commission has given the green light for Lufthansa Group’s 41% stake in Italy’s ITA Airways.

The transaction is expected to be completed by the end of the year and will become the fifth network airline in Lufthansa AG.

Carsten Spohr, Lufthansa AG CEO, said: “The approval from Brussels is excellent news for ITA Airways and all passengers flying to and from Italy.”

“The decision is also a clear signal for strong air traffic in Europe.”

It is worth about €325 million.

The investment will be completed through a capital increase.

The Italian airline will be part of Lufthansa synergies, including the loyalty program and in aircraft and fuel purchasing.

Rome-Fiumicino will become the Group’s sixth hub.

After the closing, route networks will be linked through code sharing

This will create over 1,000 new transfer options.

Members of the Volare loyalty program will be able to collect or use their miles with Miles & More and respective lounges will be mutually accessible.

ITA Airways hopes to join the Star Alliance in the near future.

“We will make ITA Airways a strong and successful part of our company and future as an international airline,” Spohr added.

ITA Airways launched operations in October 2021.

It has a fleet of 96 Airbus aircraft.

  

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



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