Italy's audit court on Friday
approved the agreement to sell a minority stake in ITA Airways
to the German flag carrier Lufthansa.
The contract, signed by the economy minister in May, provides
for the acquisition by Lufthansa in the two-year period
2023-2024 of a 41% stake in ITA's share capital against an
investment of 325 million euros.
Under the 2023-2027 business plan revenue is expected to grow
from the 2.5 billion euros forecast this year to 4.1 billion
euros in 2027.
Speaking after the closure of the deal in Rome in May, Lufthansa
CEO Carsten Spohr said closure of the transaction is expected by
the end of this
year.
"The future chief executive office of ITA Airways and a member
of the board (out of five in total) will be nominated by
Lufthansa," he told analysts.
ITA replaced loss-making former flag-carrier Alitalia in 2021,
with the State taking full ownership.
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