Lufthansa Acquires 41% Stake In Italy’s ITA Airways

Deutsche Lufthansa AG finalized the acquisition of a minority stake in Italian airline ITA Airways on Friday, following an initial offer made in January 2023, Laura Malsch reported for Bloomberg News.

The two-stage Alitalia deal reflects Lufthansa’s strategy to solidify its presence in one of Europe’s largest aviation markets. I Photo: Lufthansa

Lufthansa agreed to purchase a 41% stake in the Alitalia successor for €325 million ($334 million).

The remaining 59% will initially remain under the ownership of Italy's Ministry of Economy and Finance, though the parties have agreed to options allowing Lufthansa to acquire the remaining shares starting as early as this year.

“With our investment, we will now strengthen the Italian and European aviation market and the position of the Lufthansa Group as number one in Europe,” Lufthansa CEO Carsten Spohr said.

The two-stage deal reflects Lufthansa’s strategy to solidify its presence in one of Europe’s largest aviation markets. However, the agreement has faced scrutiny from the European Commission, particularly regarding its potential impact on long-haul travel.