ITA Airways will speak German, goal to have 97 planes and 5500 employees in 4 years
Economy and Finance Minister Giancarlo Giorgetti and Deutsche Lufthansa CEO Carsten Sphor met today at the Mef [...]
Lufthansa
ITA Airways
FCO
Economy and Finance Minister Giancarlo Giorgetti and Deutsche Lufthansa CEO Carsten Sphor met today at the Mef to Confirm the conclusion of Lufthansa's investment agreement in Ita Airways, to take over a minority stake, having already shared a company's business plan, which includes revenue growth of 2.5 billion euros expected this year and 4.1 billion euros expected in 2027. Also present at the meeting was the president of Ita, Antonino Turicchi.
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After signing, the agreement will be submitted to the Court of Auditors for review And notified to the Directorate-General for Competition of the European Commission.
The development strategy of Ita Airways will continue to be shared between the two shareholders (MEF and Lufthansa). These results will enable the growth and renewal of the fleet, which will have 94 aircraft by the end of 2027 compared to the current 71, with an average age of five years, and will ensure optimization of consumption and environmental impact.
The workforce, which is expected to grow to 4,300 employees this year as a result of the 1,200 hires being finalized, will rise to more than 5,500 by the end of the Plan.
ITA Airways' strategy is to establish itself as a major player among full-service carriers in the three sectors of intercontinental, international and domestic, with a focus on long-haul traffic.
This strategic repositioning will also make it possible to better feed traffic to the Rome Fiumicino hub, which will thus fit with a central role in the Lufthansa Group's multi-hub model.
ITA Airways will continue to be the country's flagship airline and to proudly represent Italy throughout the world, ensuring connections within the country and with the rest of the globe, supporting the development of tourism and business flows.
Carsten Spohr, CEO of Deutsche Lufthansa, says: "Today's agreement will lead to a win-win situation for Italy, ITA Airways and Lufthansa Group. This is good news for Italian consumers and for Europe, because a stronger ITA will strengthen competition in the Italian market. As a young company with a modern fleet and with its own efficient and expanding hub in Rome, ITA is the perfect fit for the Lufthansa Group. In Milan, ITA covers a large catchment area that also offers potential for growth. As part of the Lufthansa Group family, ITA can transform into a sustainable and profitable airline, connecting Italy with Europe and the world. At the same time, this investment will enable us to continue our growth in one of our most important markets."
