<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: ARISTEIA CAPITAL, L.L.C. -->
          <cik>0001080171</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/31/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0002080985</issuerCik>
        <issuerName>ITHAX Acquisition Corp III</issuerName>
        <issuerCusip>G4977S128</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>826 Collins Avenue, Suite 201</com:street1>
          <com:city>Miami</com:city>
          <com:stateOrCountry>FL</com:stateOrCountry>
          <com:zipCode>33139</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Aristeia Capital, L.L.C.</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>1250000.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>1250000.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1250000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>5.43</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>ITHAX Acquisition Corp III</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>826 Collins Avenue, Suite 201, Miami, Florida 33139</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Aristeia Capital, L.L.C.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>One Greenwich Plaza, Suite 300, Greenwich, CT 06830</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Delaware</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>1,250,000

The Reporting Person may be deemed the beneficial owner of 1,250,000 Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant, which is approximately 5.43% of the outstanding shares. This percentage was determined by dividing 1,250,000 by 23,000,000, which is the number of shares outstanding as of January 25, 2026, as reported in the Issuer's Form 10-Q filed with the SEC on January 27, 2026.</amountBeneficiallyOwned>
        <classPercent>5.43%</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>1,250,000</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>1,250,000</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Aristeia Capital, L.L.C.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Andrew B. David</signature>
        <title>Andrew B. David / Chief Operating Officer, Aristeia Capital, L.L.C.</title>
        <date>02/17/2026</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
