The wedding between Ita Airways and Lufthansa is now one step away. After the green light from the European Union, the extraordinary shareholders' meeting of the newco has given the green light to the capital increase of 325 million euros to be offered to Lufthansa, which must be subscribed by the Germans "by January 15, 2025".

The move "will allow the German company to enter Ita Airways with a 41% stake in the capital" while the Ministry of Economy and Finance will maintain the majority with 59%. The Assembly also approved the "new Company Statute", which provides "a series of prerogatives and typical rights" in extraordinary operations of this type intended for the two shareholders, the Mef and Lufthansa, in relation to the joint management of Ita, the company explains.

The new Articles of Association "will become effective upon subscription of the capital increase by Lufthansa", specifies Ita. Subsequently, an ordinary meeting of Ita shareholders will be held, during which the two shareholders will proceed to appoint the new Board of Directors, "giving effect to the agreements signed in June 2023" and to the new governance of the company.

The new board of directors will be expanded from three to five members, with three representatives at the Ministry of Economy and Finance, including the president, and two at Lufthansa, including the new CEO, who according to all rumors will be Joerg Eberhart. The German manager currently holds the position of Head of Strategy in the Lufthansa group, but in the past he was president and CEO of Air Dolomiti, a company controlled by the German giant, he knows Italy very well where he lives, he speaks Italian and has followed the entire Ita dossier.

The conclusion of all formalities "will mark the beginning of a new era for national and continental air transport, which will see Ita Airways integrate into the largest European civil air transport group", underlines the newco, born from the ashes of the old Alitalia.

(Online Union)