Lufthansa Group has completed the acquisition of a 41% stake in ITA Airways for 325 million euros. The Italian airline has thus joined the Lufthansa network, becoming the fifth airline in the group. The remaining 59% of the shares remain with the Italian Ministry of Economy and Finance.
Lufthansa also has the right to buy out the remaining shares, which could take place this year. The value of this stake is expected to exceed 800 million euros.
The integration of ITA into the Lufthansa structure will be handled by Michael Trestl, former commercial director of Austrian Airlines, who will lead the implementation process as director of integration from 1 February.