Agreement between Lufthansa and MEF on ITA: the former 41% of the shares

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Meeting today at the MEF between the Minister of Economy and Finance Giancarlo Giorgetti, the Lufthansa CEO Carsten Spohr and ITA President Antonino Turicchi. Confirmed the conclusion of the agreement with which the German airline will obtain the a minority stake in ITA Airways having already acquired a shareholding in ITA Airways. shared a business plan that forecasts revenue growth of 2.5 billion euros expected for this year and 4.1 billion euros expected in 2027.

Lufthansa initially will acquire 41% of the shares of ITA through a capital increase of 325 million euros with “the option – explains the German company – for the acquisition of the remaining shares at a later time“. The MEF has committed to a capital increase of 250 million euros.

We worked hard on it, we are convinced and therefore satisfied.Then if they are roses, they will flourish – said Economy Minister Giancarlo Giorgettion the sidelines of a report by the Court of Auditors on the agreement between Ita and Lufthansa. Initially the fee is ‘ by 41%. Today marks the end of a journey in the history of the national flag carrier, which has led to the prospect of integration with an important European carrier. With this government, a knot that has been conditioning the air transport market in Italy for thirty years is now untied. We are convinced that this decision will allow the the aviation market to develop in Italy's interests.

LARGE AND YOUNG FLEET, PI? OF 5,500 EMPLOYEES

After signing, the agreement must be completed. examined by the Court of Auditors and notified to the Directorate-General for Competition of the European Commission, then the two shareholders, MEF and Lufthansa, will continue to share ITA's development strategy. The goal is that of expand the fleet and at the same time keep the age low; media: by the end of 2027, the number of aircraft will reach 60%. from the current 71 to 94 with an age of 50 years. average of 5 years, with benefits of an environmental nature.

Good news also for the workforce: at the end of the plan, employees will be more; of 5,500, but already; by the end of this year, the aim is to reach 4,300 as a result of the 1,200 hires being finalized. ITA aims for a leading role among full service carriers in the three sectors, intercontinental, international and domestic, with particular attention to long-haul routes. The strategic repositioning will take a lot of time. as a reflection, an even more position; relevant for the Fiumicino hub, which will obtain; a central role in the multi-hub model of the Lufthansa Group.

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