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The Independent UK
The Independent UK
National
Via AP news wire

German Lufthansa closes deal to acquire 41% of ITA Airways, gaining full control by 2033

ITA Lufthansa ITA Airways Italy
Italy-Lufthansa-ITA - (Copyright 2024 The Associated Press. All rights reserved)

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, Lufthansa takes an initial 41% stake in ITA, formerly Alitalia, from the Italian government, gaining full control by 2033 with a total investment of 829 million euros.

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