Lufthansa wants to take over Ita Airways in three steps

According to CEO Spohr, the path to the complete takeover of Ita Airways by Lufthansa has been clearly agreed. © Boris Roessler/dpa

After several attempts, Lufthansa joins Ita Airways. The Group already has a plan for the gradual takeover.

Frankfurt/Main - The Lufthansa Group wants to take over the Italian state-owned airline Ita Airways in three steps. The conditions for this are laid down in the contract with the government, said CEO Carsten Spohr at a conference call. Initially, the MDax Group will acquire a minority stake of 325 percent for 41 million euros. From 2025, Lufthansa could take over a further 49 percent of the shares under certain conditions and then the remaining 10 percent in a third margin.

Spohr did not name a total price and an exact time span. However, the path to full takeover has been clearly agreed. On the other hand, Lufthansa could not be forced to fully integrate if the ITA's figures were not correct. The company is also protected from economic and legal risks associated with Ita's predecessor Alitalia.

Spohr was optimistic that ITA would quickly become profitable in the Lufthansa Group and generate operating profits as early as 2025. The airline has a very favorable cost structure and fits perfectly into the Lufthansa network. Their frequent flyer program should be quickly integrated into the Lufthansa system. Dpa