Lufthansa to Acquire 41% Stake in ITA for €325 Million

Lufthansa, the German airline, is preparing to buy a 41% stake in the Italian state carrier ITA. According to a report by Germany's DPA news agency on Wednesday, this purchase, valued at 325 million euros ($334.98 million), will conclude years of negotiations.

Lufthansa CEO Carsten Spohr announced at a staff event that the acquisition is set to take place on January 13, 2025. However, a Lufthansa spokesperson did not confirm a specific date but reiterated that the deal is expected to be completed in early 2025.

ITA is the successor to the bankrupt Alitalia. Lufthansa's stake acquisition in ITA is part of the airline's strategic expansion plans.

The agreement received approval from the European Commission in November 2024. The Commission approved a series of competition measures that included providing more routes to Lufthansa's competitors. This approval paved the way for the advancement of the acquisition.