Lufthansa plans to increase stake in ITA to 90%, CEO says

ROME (Reuters) – Lufthansa is considering increasing its stake in Italian airline ITA Airways to 90 percent from early next year, the German carrier’s CEO said in an interview published on Thursday.

Carsten Spohr was speaking after his company won EU antitrust approval to buy 41 percent of state-owned ITA for 325 million euros ($350 million).

“For us, the option for 90% starts at the beginning of 2025,” Spohr told Corriere della Sera, adding that he would like the Italian government to retain a stake in ITA.

When Lufthansa closed its 41% deal with the Roman authorities last year, it said it was seeking full control of ITA “at a later date”.

In a separate interview with the daily Il Sole 24 Ore, ITA Chairman Antonino Turicchi said the closing of the deal for Lufthansa’s initial investment would take place in November, adding that Lufthansa would have the option to increase its stake to 90% “one year after the closing.”

Italian Economy Minister Giancarlo Giorgetti said Wednesday that his government wanted to maintain some oversight over the ITA to protect national interests.

In Thursday’s Corriere della Sera, Spohr said he wanted to maintain “the support” of the Italian government for the first two years of Lufthansa’s participation in ITA. “Then we will discuss together what to do,” he added.

Spohr declined to say who would be named as ITA’s new CEO after Italian press reports suggested that Joerg Eberhart, Lufthansa’s chief strategy officer and former Air Dolomiti boss, would get the job.

($1 = 0.9271 euro)

(Reporting by Alvise Armellini; editing by Gianluca Semeraro and David Goodman)