Last Friday, Italia Trasporto Aereo SpA ("ITA Airways") held its Extraordinary Shareholders' Meeting, during which a €325 million capital increase was approved, to be offered to Deutsche Lufthansa AG ("Lufthansa"). Lufthansa must subscribe to the increase by January 15, 2025. This step will enable the German company to enter ITA Airways with a 41% capital stake.

The Shareholders’ Meeting also approved the new company By-laws, including specific prerogatives and rights for extraordinary operations of this type, allocated to the two shareholders, the Italian Ministry of Economy and Finance and Lufthansa, which regulate the joint management of ITA Airways.

The new company By-laws will become effective upon Lufthansa's subscription to the capital increase. Following to this step, an ordinary Meeting of ITA Airways' shareholders will be held, during which the two shareholders will appoint the new Board of Directors, implementing the agreements signed in June 2023 and the new governance structure of the Company.

The completion of these formalities will mark the beginning of a new era for national and continental air transport, with ITA Airways entering the largest European civil air transport group.

See for details AVIONEWS.