Overview

• Lufthansa will initially acquire a 41% stake in ITA Airways for €325 million, with an option to increase its stake to 100% in the future.
• Negotiations faced delays as Lufthansa sought a €10 million discount on a subsequent 49% stake purchase, which the Italian government refused.
• The deal requires European Commission approval, which includes conditions for maintaining competition, such as ceding airport slots to competitors.
• ITA Airways emerged from the restructuring of Alitalia in 2020 and has struggled to find a stable investor until now.
• The transaction is expected to enhance Lufthansa's access to the Italian market, the third largest in the EU, while providing ITA with a robust shareholder.