The Italian Ministry of Economy and Finance has appointed two Lufthansa Group executives to the ITA Airways board, marking the finalization of the airline’s takeover.
Lufthansa is acquiring a 41pc stake in ITA Airways for EUR325m, with Jörg Eberhart named as the new CEO and Lorenza Maggio as EMEA Sales VP.
CEO Carsten Spohr emphasized that the acquisition would enhance Lufthansa’s competitiveness in southern Europe and could lead to future profits of hundreds ofms of euros per year.
Following the transaction’s completion, ITA Airways will retain its brand while being integrated into Lufthansa’s multi-hub, multi-airline strategy, positioning Rome Fiumicino as the group’s southern hub.
