The German aviation giant Lufthansa is preparing for a partnership with ITA Airways, a process that gained momentum during the Extraordinary Shareholders’ Meeting held last Friday.
Recently, Italy’s national airline, ITA Airways, approved a €325 million capital increase for Deutsche Lufthansa AG (Lufthansa) during the Extraordinary Shareholders’ Meeting. This step will allow Lufthansa to acquire a 41% equity stake in ITA Airways. The German company must subscribe to the capital increase by January 15, 2025.
New Articles of Association Approved
During the meeting, the new articles of association governing ITA Airways’ joint management were also approved. These articles grant special powers and rights for extraordinary operations involving the Italian Ministry of Economy and Finance and Lufthansa. These new regulations will come into effect once Lufthansa participates in the capital increase.
Subsequently, ITA Airways’ shareholders will convene at a general meeting. At this meeting, a Board of Directors will be appointed to implement the new governance structure as outlined in the agreements signed in June 2023.
A New Era in European Air Transport
These developments mark the beginning of a new era in European air transportation. By joining the Lufthansa Group, ITA Airways will become part of Europe’s largest civil aviation group. This collaboration aims to enhance competition in both national and intercontinental air transport, with expectations of significant industry impact.
What Will the ITA Airways and Lufthansa Partnership Bring?
This agreement offers substantial opportunities for both Lufthansa and ITA Airways. Lufthansa will further expand its strong position in Europe, while ITA Airways aims to enhance its operational capabilities and global reach.
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