financetom
Business
financetom
/
Business
/
Lufthansa to consider raising stake in ITA to 90%, CEO says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Lufthansa to consider raising stake in ITA to 90%, CEO says
Jul 3, 2024 11:53 PM

ROME (Reuters) - Lufthansa will consider raising its stake in Italy's ITA Airways to 90%, starting from early next year, the CEO of the German airline said in an interview published on Thursday.

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

"For us, the option for the 90% starts in early 2025," Spohr told Italy's Corriere della Sera, adding that he would like the Italian government to retain a stake in ITA.

When Lufthansa agreed its 41% deal with Rome's authorities last year, it said it was looking to acquire full control of ITA "at a later date".

In a separate interview with Il Sole 24 Ore daily, 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 possibility of raising its stake to 90% "one year after the closing".

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

In Thursday's Corriere della Sera, Spohr said he would like to retain "the support" of the Italian government for the first two years of Lufthansa's involvement in ITA. "Then we will discuss together what to do," he added.

Spohr declined to say who will be appointed as ITA's new CEO after Italian press reports suggested that Joerg Eberhart, Lufthansa's head of strategy and former boss of Air Dolomiti, would get the job.

($1 = 0.9271 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Toyota September output grows for fourth stright month, aided by strong US demand
Toyota September output grows for fourth stright month, aided by strong US demand
Oct 26, 2025
TOKYO (Reuters) -Toyota Motor ( TM ) on Monday said its worldwide production increased by more than 10% in September and rose for a fourth straight month, as both sales and output increased in the U.S., the Japanese automaker's top market. Toyota's ( TM ) global output for September grew 11% from a year earlier to 918,146 vehicles. Production for...
Luxury brands turn on the charm in China to kindle nascent spending recovery
Luxury brands turn on the charm in China to kindle nascent spending recovery
Oct 26, 2025
SHANGHAI (Reuters) -As Chinese shoppers dip toes back in the luxury pool, brands are targeting economically resilient high-earners with distinctive, personalised experiences as their focus shifts more to market share than growth. Firms like LVMH and Hermes increasingly offer intimate dinners and large-scale shows, as well as stores with private shopping areas and exclusive elevator access for the VIPs they...
HSBC to take $1.1 billion hit after Luxembourg court ruling in Madoff case
HSBC to take $1.1 billion hit after Luxembourg court ruling in Madoff case
Oct 26, 2025
* HSBC ( HSBC ) says eventual financial impact could be very different from estimate * Third-quarter earnings due on Tuesday * Shares little affected (Writes through with details of case, analyst comment) By Rishav Chatterjee and Selena Li Oct 27 (Reuters) - HSBC Holdings ( HSBC ) said on Monday it will book a $1.1 billion provision in its...
HSBC to take $1.1 billion hit after Luxembourg court ruling in Madoff case
HSBC to take $1.1 billion hit after Luxembourg court ruling in Madoff case
Oct 26, 2025
(Reuters) - HSBC Holdings ( HSBC ) said on Monday it will book a $1.1 billion provision in its third-quarter results after losing part of an appeal in a long-running lawsuit tied to Bernard Madoff's Ponzi scheme. HSBC ( HSBC ) acted as a service provider to several funds that invested with Bernard L. Madoff Investment Securities LLC. Herald Fund...
Copyright 2023-2026 - www.financetom.com All Rights Reserved