HomeTravel NewsLufthansa Agrees to Buy 41% Stake in Italy's ITA Airways for €325m

Lufthansa Agrees to Buy 41% Stake in Italy’s ITA Airways for €325m

Lufthansa has reached agreement to take a significant minority 41% stake in Italian carrier ITA Airways in return for pumping €325m of fresh capital into the airline.

Lufthansa Group chief executive Carsten Spohr said: “Today’s agreement will lead to a win-win situation for Italy, ITA Airways and Lufthansa Group – a stronger ITA will invigorate competition in the Italian market.”

Lufthansa will, ultimately, take joint management of ITA once the deal is completed. The German carrier will also choose ITA’s next chief executive.

Lufthansa has been in talks over a deal for ITA since the start of this year, but the talks were extended beyond their initial late April deadline. Mr Spohr finalised the deal with Italy’s finance minister Giancarlo Giorgetti, in Rome, this week.

Geoff Percival
Geoff Percival
Geoff has worked in business, news, consumer and travel journalism for more than 25 years; having worked for and contributed to the likes of The Irish Examiner, Business & Finance, Business Plus, The Sunday Times, The Irish News, Senior Times, and The Sunday Tribune.

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