Lufthansa said it will have an option to buy the rest of ITA’s shares at a later date.
ITA replaced loss-making former flag-carrier Alitalia in 2021, with the State taking full ownership.
“Today marks the end of a part of the history of the national flag-carrier that has led to the prospect of a merger with an important European airline,” Economy Minister Giancarlo Giorgetti said.
“Today the government resolves an issue that has conditioned the Italian air-transport market for 30 years.
“We are convinced that this decision will make it possible for the aviation market to develop in Italy’s interest”.
Lufthansa said that the Italian government has also committed to a capital increase of 250 million euros into ITA as part of the agreement.
Contractual finalisation of the agreement is expected to be completed shortly, it said.
“Today’s agreement will lead to a win-win situation for Italy, ITA Airways and Lufthansa Group,” said Lufthansa CEO Carsten Spohr.
“And it is good news for Italian consumers and for Europe, because a stronger ITA will invigorate competition in the Italian market.
“As a young company with a modern fleet, and with its efficient and expanding hub in Rome, ITA is a perfect fit for Lufthansa Group.
“In Milan, ITA serves a strong catchment area which also offers potential for growth.
“As part of the Lufthansa Group family, ITA can develop into a sustainable and profitable airline, connecting Italy with Europe and the world.
“At the same time, this investment will enable us to continue our growth in one of our most important markets.”
ANSA
