In a significant shift signaling changes at the helm of ITA Airways, Italy’s Ministry of Economy introduces a leaner board setup. Executive President Antonino Turicchi maintains his role while Managing Director and General Manager, Fabio Lazzerini, steps down.
Antonino Turicchi to Lead New ITA Airways Board
As reported by Leonard Berberi for The Corriere della Sera, the new board configuration anticipates Lufthansa‘s incoming investment and partnership, pending EU’s green signal. Lufthansa is set to add two of its advisors to the Ita board, thereby restoring the original five-member composition.
Joining Turicchi on the board are Treasury representatives Valeria Vaccaro and Francesco Spada. As air transport experts Professor Ugo Arrigo and Frances Ouseley depart, the airline leadership sees a notable shift.
Lufthansa’s Stake and Future Strategy
The partnership with Lufthansa entails a 41% stake in Ita through a €325 million investment, subject to EU Antitrust approval. Lufthansa plans to incrementally increase this stake, with a long-term vision to gain complete control by 2033.
Lufthansa Group Seals Deal and Buys a 41% Stake in ITA Airways
Approval from the European Commission’s Competition Directorate-General is expected in a few weeks. The ambitious Lufthansa-Ita strategy aims to break even within two years of the relaunch, projected by the first half of 2026.
In the dynamic landscape of the aviation industry, the coming weeks will be pivotal for ITA Airways as it braces for a significant metamorphosis under Lufthansa.
