ITA Airways has said goodbye to its chief executive officer Fabio Lazzerini who had been in the role since the 20th of November, 2020.
The decision to part ways mutually comes following the Lufthansa Group being set to take a more prominent role in the company. As part of the investment in ITA Airways, the group wants to add its people to the highest position.
Fabio played an essential role in establishing the carrier following the collapse of Alitalia, which ITA thanks him for noting that it was nowhere close to being smooth.
While Lufthansa is taking on a minority stake in the company, if this goes well, they have the vision to acquire ITA Airways and integrate fully it wholly into the Lufthansa Group. The initial stake is valued at USD 348 million. The stake is initially valued at just 41%.
The pair currently await the final green lights before they can work together. Lufthansa sees the Italian market as a tough one to crack, but, believes it can make steady ground through ITA as an asset. It’s a decision that has been widely approved and also criticised following Alitalia’s failures being still present in the new ITA.