Lufthansa Raises Stake in Air Dolomiti

Lufthansa is raising its stake in Air Dolomiti to 98.8 per cent, largely by acquiring the 23.7 per cent share of the Italian regional airline’s equity held by its founder Domenico Alcide Leali.

Following the increase in Lufthansa’s stake in Air Dolomiti on 16 April from 20.7 per cent to 51.9 per cent, Lufthansa made - in accordance with Italian law - a public offer to purchase the stock held by all Air Dolimiti shareholders. That offer closed on 27 June: Effective 8 July, the shares acquired in the takeover offer will be transferred into Lufthansa’s ownership. Lufthansa will acquire the remaining shares in a “squeeze-out”. The shares will be de-listed from the Milan stock exchange on 9 July 2003.

The acquisition is a further step in the close cooperation in which Lufthansa and Air Dolomiti have engaged since 1994. As a a top-flight feeder into Lufthansa’s Munich hub, Air Dolomiti has regularly posted two-digit growth rates. As the biggest foreign carrier in Munich, the Italian regional airline has made a major contribution towards the evolution of the hub into its present eminent position in Europe. Air Dolomiti is Italy’s most succcessful regional carrier and the holder of numerous awards, among them the Regional Airline of the Year Award 2002. It operates a modern fleet of 21 aircraft, linking destinations in north and central Italy with airports in Germany and other European countries.

Air Dolomiti will remain an independent Italian company, guaranteeing passengers excellent quality, outstanding service and all the benefits of a highly motivated workforce.