Following lengthy discussions, Lufthansa (LHAB) (LHA) Group is going to acquire 40% stake in Italy’s newly-created flag carrier ITA Airways.
The companies have agreed on certain key topics, including ITA’s finances, consolidation of purchases, and other details.
The carriers also agreed on the role of Rome–Fiumicino International Airport (FCO), which would serve as a hub for flights to Africa and some routes to America.
The news about the agreement were first reported by Italian newspaper Il Fogilio.
According to the source, the acquisition is going to be officially announced next week, starting on January 24, 2022.
ITA expressed an intention to become a part of Lufthansa Group in November 2021, soon after the airline started operations. The companies have been in negotiations ever since, negotiating the details.
ITA is currently wholly owned by the Italian government, and was created following the bankruptcy of Alitalia, Italy’s long-suffering former flag carrier.
Lufthansa Group currently owns Swiss International Air Lines, Brussels Airlines, Austrian Airlines, Air Dolomiti, Eurowings, as well as the German flag carrier Lufthansa (LHAB) (LHA).
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