Just days after confirming the acquisition of 41% of ITA Airways, the initial plans of Lufthansa for the Italian airline are revealed. The German consortium will invest 830 million euros to gain total ownership of the shares by 2028.
As reported by Leonard Berberi in the Corriere Della Sera, between the end of 2023 and the beginning of 2024, Lufthansa will contribute 325 million euros, in 2026-2027 it will repeat this amount to acquire an additional 49%, and will conclude in 2028 with a payment of 80 million euros to take full control of Alitalia‘s successor.
Priority: Codeshare and Alliance Shift
Lufthansa aims to turn around ITA’s financial situation by integrating it quickly into its operations: the plan is for the Italian operator to offer codeshare flights with companies of the Lufthansa group and associated firms.
Moreover, the plan includes ITA’s exit from SkyTeam to join Star Alliance and integrate into the transatlantic joint venture with United Airlines and Air Canada.
The Return of Alitalia
The Alitalia brand, purchased by ITA for 90 million euros and still unused, could be reintegrated into the planes once ITA becomes profitable again. Lufthansa also plans to turn Rome Fiumicino Airport into an intercontinental hub, focusing on flights to Latin America, Africa, and Asia.
An upcoming shareholders’ meeting will announce a change in the direction of ITA Airways. The current board of directors will be replaced by a new one, and it is likely that Turicchi will retain his position as president.
