It’s been a real roller coaster. They made a deal, it almost fell through, but finally they made it work. I just couldn’t help but cover all that has happened between ITA Airways and the Lufthansa Group. Now, with the deal sealed and Lufthansa holding 41% of ITA, it’s time to get to know the new board of directors.
ITA Airways’ New Board – In Come 2 Lufthansa Members
Following the capital increase that allowed Lufthansa to take under its control a large chunk of ITA Airways’ equity, we finally have some faces to associate with the German group on the board of directors. The board of directors needed to be rebalanced as it had to reflect the stake ownership percentages.
ITA Airways has 5 board members. Prior to the Lufthansa Group takeover they were all appointed by the Italian ministry of finance (MEF hereafter). Now though the 60/40 equity split imposed to have 2 Lufthansa appointed members and 3 MEF appointees.
The two new ITA Airways board members are:
- Joerg Eberhart – 54 years old, former CEO of Air Dolomiti (a smaller regional airline owned by Lufthansa which operates mainly in northern Italy).
- Lorenza Maggio – 47 years old, since January 2024 vice president of the Lufthansa Group EMEA sales department.
The remaining MEF ITA Airways board members are:
- Antonella Ballone
- Sandro Pappalardo
- Efrem Angelo Valeriani
Special Roles ITA Airways’ Board Members Will Cover
Lorenza Maggio, one of two Lufthansa appointed ITA Airways managers, won’t have any special duties. Joerg Eberhart ,however, will be a key and central figure for the Italian airline moving forward. He will become the airline’s new CEO.
Sandro Pappalardo is now the chairman. The statutory board of auditors now consists of:
- Paolo Ciabattoni
- Angela Florio
- Federico Testa
Angela Florio has been also appointed as president of the statutory board.
The Lufthansa Era Begins for ITA Airways – Many Changes Ahead
With this formal step, the new Lufthansa era begins for Italy’s flag carrier. Now, we all await some major news. I personally think 2025 will be a year filled with important announcements for ITA Airways. My prediction is that we’ll see one or all of these changes take effect before the year is over:
- Frequent flyer program change – ITA Airways to enter the Miles&More program.
- Airline alliance switch – Moving over to Star Alliance while exiting SkyTeam.
- Operations – ITA is likely to become Lufthansa’s focus airline, with Rome Fiumicino becoming the focus airport for South American operations. Lufthansa is certainly intentioned to place ITA in direct competition with IAG‘s Iberia.
Let’s see how many of these predictions come to fruition in 2025.