ROME, Jan. 17 (Xinhua) -- The new board of directors for Italian flagship carrier ITA Airways was officially installed Friday following the formal completion of the airline's merger with German carrier Lufthansa, according to ITA Airways.
Lufthansa's stake in the Italian company was valued at 325 million euros (335 million U.S. dollars). By doing so Lufthansa owns 41 percent of ITA Airways' shares, with the rest held by the Italian Treasury. The German carrier has an obligation to acquire the remaining ITA shares in the following years.
