Lufthansa Group takes control of ITA Airways obtaining 90% stake valued at €325m

The German Lufthansa Group has taken full control of ITA Airways by acquiring an additional 49 per cent stake in the Italian carrier for a value of €325 million, increasing its shareholding in the airline to 90 per cent, the airline has announced in a press release copied to Ghana Business News. The Italian Ministry of Economy and Finance will retain the remaining 10%.

Before this deal was reached, the Italian government had owned 59 per cent through the Ministry of Economy and Finance, while the Lufthansa Group held 41 per cent.

According to the press release, the deal is expected to be completed in the first quarter of 2027, subject to approval by the relevant authorities, including the European Commission and the US Department of Justice.

ITA Airways effectively becomes part of the Lufthansa Group.

“The increasingly close integration into the Lufthansa Group will enable ITA Airways to develop further industrial and commercial synergies with the Group’s airlines, while preserving its Italian identity,” the release said.

By Emmanuel K Dogbevi

The post Lufthansa Group takes control of ITA Airways obtaining 90% stake valued at €325m appeared first on Ghana Business News.