ROME (Reuters) – Germany’s Lufthansa will start making money from its investment in ITA Airways from this year, the chief executive of the German carrier, Carsten Spohr, said on Monday.
Spohr added that ITA would join the Star alliance, the world’s largest airline alliance, of which Lufthansa is part, at the beginning of next year.
Lufthansa last month finalised its acquisition of a 41% stake in Italian state-owned airline ITA after European antitrust remedies were put in place.
It paid 325 million euros ($332 million) for the stake in the successor airline to bankrupt Alitalia, in a deal designed to boost the carrier’s presence in the lucrative southern European market. ($1 = 0.9778 euros)
(Reporting by Angelo Amante, writing by Giulia Segreti; Editing by Keith Weir)
Comments