Italy says "benvenuti" to Lufthansa
Deutsche Lufthansa has reached an agreement with the Italian ministry of economy and finance (MEF) to acquire a minority stake of 41% in the Italian national carrier ITA Airways (Italia Trasporto Aereo) for EUR 325 million through a capital increase.
In addition, the MEF and Lufthansa agreed on options to enable a potential acquisition of the remaining shares by Lufthansa at a later date. The purchase price for the remaining shares will be based on the business development of ITA Airways.
The company's business plan, which envisages a revenue growth of EUR 2.5 billion expected this year and EUR 4.1 billion forecast for 2027. ITA Airways' strategy aims to establish itself as a major player among full-service carriers with particular attention to long-haul traffic, strengthening its Rome Fiumicino hub. (ah)