The Italian Ministry of Economy and Finance (Ministero dell’Economia e delle Finanze, MEF), the owner of ITA Airways
, has appointed five new executives at the airline, including the Chief Executive Officer (CEO).
New appointments
On January 15, ITA Airways, Lufthansa Group
, and the MEF announced that the Ministry finalized the Italian carrier’s board structure, appointing five new directors.
Antonella Ballone, a self-described “entrepreneur in the transport and tourism sector,” Joerg Eberhart, an executive within the Lufthansa Group and former CEO of Air Dolomiti
, Lorenzo Maggio, another Lufthansa Group executive, Sandro Pappalardo, a board member at ENIT – Agenzia nazionale del Turismo (The Italian Government Tourist Board), and Efrem Angelo Valeriani, advisor of Aequa Roma SpA, a tax monitor in Rome, Italy, and CEO of Improve, an Italy-based training and consultancy provider within the aviation industry, will become ITA Airways’ five board members.
Photo: KITTIKUN YOKSAP | Shutterstock
According to ITA Airways, the Board of Statutory Auditors will consist of Paolo Ciabattoni, Angela Florio, and Federico Testa. Eberhart and Pappalardo will become the airline’s CEO and Chair of the Board respectively.
However, neither Lufthansa Group nor the MEF disclosed that the former had acquired a 41% stake in ITA Airways following a dispute that reportedly delayed the appointment of the CEO and chairman of the board due to disagreements over their responsibilities and authority within the new management structure.
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The dispute between Lufthansa Group and ITA Airways’ owners could be resolved as soon as January 15.
New phase
Eberhart said that he was honored to have been selected as the CEO of ITA Airways, noting that after more than two years of hard work, the airline can begin a new phase in its short history. This will allow the carrier to strengthen its position and develop strategic synergies within the Lufthansa Group that will enhance growth and strengthen ITA Airways’ position as the leading airline in Italy.
Photo: Santi Rodriguez | Shutterstock
Giancarlo Giorgetti, the Finance Minister of Italy, thanked the outgoing Chief Executive, Nino Turicchi, for his service and work during the transition phase. Giorgetti also wished Eberhart and Pappalardo good luck and welcomed the quintet board members.
Meanwhile, the Lufthansa Group only shared a short statement, saying that both Eberhart and Maggio have been appointed to ITA Airways’ board of directors. The Frankfurt Stock Exchange (Börse Frankfurt, ETR) disclosed that Lufthansa Group has not yet purchased the 41% stake through a €325 million ($334.2 million) capital increase as “the final formalities still need to be clarified.”
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The acquisition will end years of talks between Lufthansa and ITA Airways.
Long process
While it seems like the transaction for the 41% shares of the Italian airline is just around the corner, finalizing the merger has been a long process for Lufthansa Group, ITA Airways, and, by extension, the MEF.
The Germany-based airline group, with subsidiaries of de facto flag carriers in Austria, Belgium, and Switzerland, including Germany’s 
Lufthansa
, announced the acquisition in May 2023. At the time, Carsten Spohr, the CEO of Lufthansa Group, said that the agreement would create a win-win situation for Italy, ITA Airways, and Lufthansa.
“As a young company with a modern fleet, and with its efficient and expanding hub in Rome, ITA is a perfect fit for Lufthansa Group. In Milan, ITA serves a strong catchment area which also offers potential for growth.”
Photo: Tamme Wichmann | Shutterstock
Both stakeholders informed the European Commission (EC) about the transaction in November 2023, and in March 2024, it told the parties about potential competition concerns that could arise following the transaction.
As a result, to get the EC’s approval, ITA Airways and the Lufthansa Group had to relinquish slots at Milan Linate Airport
(LIN), make necessary assets available to enable rival carriers to launch flights between Rome or Milan and certain airports in Central Europe, and enter into agreements with its competitors, such as interlining or slot swaps, to ensure competition on long-haul flights from Italy. The EC approved the merger on July 3, 2024.
ITA Airways and Lufthansa designated easyJet
as the remedy taker for slots at Milan-Linate, with the carrier also launching a new base and, consequently, new flights from Rome Leonardo da Vinci Fiumicino Airport (FCO). Air France-KLM
and the International Airlines Group (IAG)
were the long-haul remedy takers.
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In total, easyJet has unveiled 25 new routes from Milan Linate Airport, Milan Malpensa Airport, and Rome Fiumicino International Airport.
