Lufthansa Group announced on May 12 that it “will exercise its option to acquire a majority stake in ITA Airways in June of this year”.
The group will pay €325 million to increase its stake in the Italian airline from 41% to 90%.
Lufthansa Group has held a 41% interest in ITA Airways since Jan 17th 2025 when it acquired the minority stake from the Italian Ministry of Economy and Finance (MEF).
Under the terms of the original purchase agreement, Lufthansa Group was also granted an annually recurring option to acquire a further 49% which it has now exercised.
What happens next?
- Subject to regulatory approval from the European Commission and US Department of Justice, the transaction is due to be completed in the first quarter of 2027.
- Lufthansa Group retains an option to acquire the last remaining 10% held by the MEF in 2028.
- Regulatory approval for ITA Airways' entry into the Atlantic Joint Venture, the transatlantic joint venture led by Air Canada, Lufthansa Group, and United Airlines, is still pending.
ITA Airways seeks DOT’s approval to join the Air Canada-Lufthansa-United Airlines A++ JV
One of the most interesting arguments that the trio made was that disapproval of ATI for the joint venture would be against the policy of the US.
Rytis Beresnevicius
