Germany's Lufthansa Group on Friday finalized its acquisition of Italian airline ITA Airways, closing a long period of uncertainty for Italy’s former flagship carrier.Under the 325-million-euro ($350 million) deal,

Germany's Lufthansa Group has completed its long-sought acquisition of Italian carrier ITA Airways, finalising on 17 January its acquisition of a two-fifths stake in the company.

Deutsche Lufthansa AG completed the acquisition of a minority stake in Italian carrier ITA Airways late on Friday after first making an offer for its competitor in January 2023.

Germany's Lufthansa Group on Friday finalised its acquisition of Italian airline ITA Airways, closing a long period of uncertainty for Italy's former flagship carrier.

Lufthansa finalised its acquisition of a 41% stake in Italian state-owned airline ITA after European antitrust remedies were put in place, it said on Friday, in a deal designed to boost the carrier's presence in the lucrative southern European market.

Lufthansa Group completed its acquisition of Italy's ITA Airways, formerly Alitalia, finalizing a deal worth 829 million euros. Lufthansa now holds 41% of ITA, aiming for full control by 2033. This acquisition addresses competition concerns by allowing rival airlines access to certain routes,

Germany's Lufthansa announced on Friday that it has taken the first step towards a takeover of Italy's state-owned ITA Airways by completing an approved capital increase of €325 million ($334 million).

German aviation giant Lufthansa Group is set to take a stake in Italian state-owned airline ITA on January 13 following years of negotiations over a deal, dpa has learnt. Lufthansa chief executive Carsten Spohr confirmed the date during an employee event,

The MEF pointed out the divestiture of ITA Airways as one of the highlight-worthy moments of its tenure, noting that the Lufthansa Group’s purchase of the Italian airline’s 41% shares through a capital increase will conclude a 40-year history of wasting taxpayers’ money.

Italy and Lufthansa finalised their agreement Wednesday for the German airline to acquire a minority stake in ITA Airways, the state-owned carrier born from the ashes of Alitalia.

Under the €325-million ($350-million) deal, Lufthansa takes an initial 41 per cent stake in ITA, formerly Alitalia, from the Italian government, gaining full control by 2033 with a total investment of €829-million. The remaining 59 per cent will initially continue to be held by the Italian Treasury.

Major airlines are planning to reinstate flights to the Middle East following a ceasefire agreement between Israel and Hamas. Over the last 15 months of conflict, several Western carriers pulled out of flights to Israel, Jordan and Lebanon as missile attacks closed skies over Iraq and Iran in unpredictable airspace.