After long negotiations: Lufthansa succeeds in joining Ita Airways

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This was reported by the media on Thursday morning. In the afternoon, both sides in Rome ratified the basic agreement without initially giving any figures.

According to reports, another 500 million euros will flow after the planned return to profitability for 50 to 55 percent of the shares. The Italian state would stay on board for the time being, contrary to Lufthansa’s initial plan. The Agreement is subject to competition law reviews at national and European level.

Founded in 2020, Italia Trasporto Aereo (Ita) took over the flight operations of its bankrupt predecessor Alitalia in October 2021, but is not its legal successor. However, Ita has secured takeoff and landing rights as well as the Alitalia brand.

The legendary name could possibly be reactivated under the new corporate umbrella soon. Lufthansa chief strategy officer Jörg Eberhart, who currently heads Air Dolomiti, its regional subsidiary in northern Italy, is being discussed as the new Ita boss.

Last year, Ita posted a net loss of 486 million euros, with sales of approximately 1.6 billion euros. At the end of March, the company cited the post-corona pandemic, rising fuel costs as a result of the Ukraine war, and a weak euro-dollar exchange rate as reasons for the red numbers.

94 aircraft and a turnover of 4.1 billion euros are now targeted for 2027. Lufthansa boss Carsten Spohr talked about a win-win situation for Italy, Ita and his company. Through higher capacity utilization, cheaper purchasing and better flight coordination, the lean Alitalia with its young fleet wants to bring its successor into profit territory.

For many years, Lufthansa wanted to gain a foothold in its second most important foreign market. The initiative, which started in 2009 under the name Lufthansa Italia, ended in 2011.

Currently, the group only attracts transfer passengers from wealthy northern Italy to central Munich on Air Dolomiti flights. Now, Ita and Lufthansa are gaining market shares in an environment dominated by external low-cost airlines such as Ryanair and Easyjet.

Deutsche Lufthansa AG took over the former state airlines of neighboring countries Switzerland, Austria and Belgium and continued to operate them as independent brands. Belgian Sabena successor, Brussels Airlines, had taken over Lufthansa in two phases, and it initially started with a minority. Another possible takeover target is the Portuguese Tapa.

(SDA)

Source :Blick