Lufthansa Execs Join ITA Airways Board in Takeover Deal

The Italian Ministry of Economy and Finance has appointed two Lufthansa Group executives to ITA Airways’ (AZ, Rome Fiumicino) board, marking a major step in Lufthansa’s acquisition of the Italian carrier. The appointments include Jörg Eberhart as ITA’s new CEO, signaling Lufthansa’s operational control despite holding a 41% minority stake.

Lufthansa is investing EUR325 million (USD334 million) for its stake in ITA Airways, with the deal expected to close shortly. Eberhart, previously president and CEO of Air Dolomiti (EN, Verona), brings extensive experience to the role. Lorenza Maggio, Lufthansa Group’s EMEA Sales VP, also joins ITA’s board.

Carsten Spohr, Lufthansa Group CEO, expressed confidence in the acquisition, highlighting its strategic importance in strengthening the group’s position in southern Europe. He anticipates the move will boost future profits by hundreds of millions of euros annually. While Lufthansa may eventually acquire full ownership of ITA, Spohr emphasized this is not an immediate goal.

The board will also include Sandro Pappalardo as chair, along with Antonella Ballone and Efrem Angelo Valeriani. The ITA Airways brand will remain but will integrate into Lufthansa’s multi-hub strategy, making Rome Fiumicino the group’s sixth and southernmost hub.

This development reflects Lufthansa’s commitment to expanding its network and enhancing its competitive edge, setting the stage for long-term growth and profitability in the European aviation market.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com