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NewsGerman Lufthansa acquires minority stake in Italian ETA

German Lufthansa acquires minority stake in Italian ETA



Italy’s finance ministry said in a statement that Lufthansa’s plan aims to make 2.5 billion euros in profits this year, rising to 4.1 billion euros in 2027. But the financial details of the agreement were not disclosed.

The statement added that the profit stream will allow Eta Airlines to expand its fleet from 71 planes to 94 planes over the next four years, and the company is also looking to hire new employees to increase its workforce to 5,500 employees.

As part of this strategy, Rome’s Fiumicino Airport will become a hub for the Lufthansa Group, while ETA will focus on long-haul flights. Lufthansa CEO Carsten Spohr also mentioned Milan as a potential growth center.

The deal still needs to be approved by European competition authorities.

Ita and its predecessor, Alitalia, were looking for a partner after Alitalia lost domestic and European routes to low-cost competitors. A string of failed deals with potential and actual partners over the past 15 years.

ETA was officially launched in October 2021 after Alitalia went bankrupt, ending a 74-year journey.

Lufthansa was the only company to bid in the latest bid, launched this year.

Lufthansa already operates Air Dolomiti in northern Italy and operates long-haul flights from cities such as Milan, Verona and Venice to destinations in Munich and Frankfurt.

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