ITA, Sphor (Lufthansa): confident on profit generation from 2025

ITA Airways the agreement with Lufthansa is very close

(Finance) – Yesterday the agreement between MEF and Lufthansa for the sale of a minority stake in the national airline ITA Airways. This was announced by the Ministry of the Economy, confirming expectations.

Economy Minister Giancarlo Giorgetti and Deutsche Lufthansa CEO Carsten Sphor – refers the press release of the Ministry – met today at the MEF to confirm the conclusion of the investment agreement of Lufthansa in Ita Airways to take over a minority stake. Also present at the meeting was the president of ITA, Antonino Turicchi. The agreement will now be submitted to the scrutiny of the Court of Auditors and notified to the Directorate-General for Competition of the European Commission.

And today, the words of the Lufthansa CEO Carsten Spohr: “We are confident that Ita will make profits from 2025,” he said in a conference call the day after the agreement to enter the capital of the Italian company. “It is an important day for us. We are preparing to become more international, with benefits for our customers. The Italian market is very important”, he went on to underline that “ITA is a new company, with new rules that are taking it in the right direction”. Spohr also wanted to recall that the German carrier has not previously invested in Alitalia.

As for the acquisition of the entire capital of Ita Airways and its timing “it will depend on the performance that the company will deliver”.

“The future CEO of ITA Airways will be appointed by Lufthansa who will also appoint a director to a five-member board. Spohr also added that the closing for the purchase of 41% of ITA Airways is expected by the end of the year .

A few minutes ago, the comment from the European Commissioner for Monetary Affairs also arrived, Paul Gentiloni. “I am witness to 20 years of attempts to give the former Alitalia a future. Of the obstacles encountered, and of who is responsible for them. For this I applaud the agreement reached. There will be discussions in Italy and in Europe. Meanwhile, long live #ITA,” he wrote on Twitter.