German airline group Lufthansa has acquired a 41% stake in the Italian national carrier, ITA Airways, following a deal announced on Friday. The Italian Ministry of Economy and Lufthansa confirmed the transaction, stating that the remaining 59% of the airline will remain in the hands of the Italian state, for now.
Options for the purchase of the remaining shares in ITA Airways have been agreed upon between Lufthansa and the Italian government, and can be exercised as early as this year. In May 2023, the two parties agreed on Lufthansa’s acquisition of a minority stake in ITA Airways, pending regulatory approval. The European Commission granted the necessary approvals on November 29, 2024, and other non-EU competition authorities have since given their green light. A capital increase of 325 million euros was executed on Friday, marking the first step in the acquisition process.
Italy is set to become a new “home market” for Lufthansa, as the airline described it. Currently, Italy is the second most important international market for Lufthansa, after the United States, outside of its existing home markets in Germany, Austria, Switzerland, and Belgium. Rome’s Fiumicino airport is expected to become the group’s sixth and southernmost hub, while Milan’s Linate airport will play a prominent role as a metropolitan airport, serving the second-largest catchment area in the EU.