ITA Airways is ready to fly with Lufthansa. The Italian State and the German air carrier sign an agreement. To enter the capital of ITA Airways, the successor to the Italian public company, Lufthansa is investing 325 million euros. A solution ” win-win “, according to the parties involved.
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For Alitalia, there was no other option to survive than to get closer to a large European group. Abused for twenty years, accumulating losses of billions of euros, the Italian airline was placed under public administration, then replaced by ITA Airways.
Recapitalized at the start of the year by the Italian State to the tune of 400 million euros, the successor to Alitalia had to quickly find a partner to help it straighten out its accounts.
Lufthansa takes 41% stake
Lufthansa, she succeeds here its entry into the capital of ITA Airways after two failed attempts in the past. The German carrier takes 41%, and retains the possibility of increasing its stake or – ultimately – to buy the Italian company. This strategy, if it works, will allow the German group to access the Italian market, the third largest market on the European continent.
Lufthansa, which already owns Brussels Airlines, Austrian Airlines, Swiss and another Italian company Air Dolomiti, should thus increase its flights to the American continent, but also to Africa and Asia.