Lufthansa’s acquisition of 41% of ITA Airways has been approved and finalised.
The Lufthansa Group and the Italian Ministry of Economy and Finance concluded the transaction on January 17, making ITA Airways the fifth airline in the group’s network.
The €325 million (R6,3 billion) acquisition was agreed upon by both parties in May last year, but the transaction was stalled by the European Commission, who required Lufthansa to agree to limit anti-competitive behaviour, as reported by Travel News.
“With our investment, we will now strengthen the Italian and European aviation market and the position of the Lufthansa Group as number one in Europe. Our joint passengers worldwide will benefit from improved offers and optimized connections as early as this upcoming summer flight schedule,” said Carsten Spohr, CEO of Deutsche Lufthansa AG.
Lufthansa said that in a few weeks, ITA Airways’ frequent fliers would be able to earn points or miles in the Lufthansa Group’s loyalty programme, Miles & More, when they fly with Lufthansa Group airlines, and in ITA Airways’ current Volare programme when they fly with ITA Airways.
In addition, Miles & More members will be able to redeem miles on ITA Airways flights.
Joint codeshare connections, mutual use of respective lounges and admission to the Star Alliance will follow in the future, according to the airline.
