Aviation

Lufthansa buys 41% stake in Italian carrier ITA, ridding Rome of State-reliant asset

Lufthansa, the region’s biggest airline group, will invest €325 million via a capital increase for a 41 per cent stake, with the Italian government contributing an additional €250 million

“A stronger ITA will invigorate competition in the Italian market,” Lufthansa Chief Executive Officer Carsten Spohr said in the statement. Picture: Getty

Deutsche Lufthansa AG agreed to buy a stake in Italian carrier ITA Airways, allowing the German airline to expand in Europe’s third-largest aviation market while letting Rome rid itself of an asset that’s soaked up billions of euros in state support.

Lufthansa, the region’s biggest airline group, will invest €325 million via a capital increase for a 41 per cent stake, with the Italian government contributing an additional €250 million, according to a statement by ...