Lufthansa is contemplating an increase in its shareholding in Italy's ITA Airways to 90 percent, beginning early next year, according to remarks made by the German airline's CEO, Carsten Spohr, in an interview published Thursday.
Spohr's comments came after Lufthansa secured EU antitrust clearance to purchase a 41 percent stake in state-owned ITA for 325 million euros ($350 million). "For us, the option for the 90 percent begins in early 2025," Spohr informed Italy's Corriere della Sera, noting his preference for the Italian government to hold onto a portion of ITA. When Lufthansa finalized its 41 percent agreement with Rome last year, it indicated its intention to gain full control of ITA at a future juncture.
In a different interview with Il Sole 24 Ore, ITA chairman Antonino Turicchi confirmed that the transaction for Lufthansa's initial investment would be completed in November, with the possibility for Lufthansa to increase its stake to 90 percent a year following the transaction's closure. Italian Economy Minister Giancarlo Giorgetti expressed on Wednesday the government's desire to retain some control over ITA to safeguard national interests.
In his interview with Corriere della Sera, Spohr emphasized his wish for "the support" of the Italian government during the first two years of Lufthansa's engagement with ITA. "After that, we will collaborate to decide our next steps," he added. Spohr refrained from commenting on the appointment of ITA's new CEO, despite Italian media speculation that Joerg Eberhart, Lufthansa's strategy chief and former Air Dolomiti CEO, might be chosen for the role.
