Lufthansa's Strategic Sky-High Acquisition: ITA Airways Deal Sealed

Lufthansa Group completed its acquisition of Italy's ITA Airways, formerly Alitalia, finalizing a deal worth 829 million euros. Lufthansa now holds 41% of ITA, aiming for full control by 2033. This acquisition addresses competition concerns by allowing rival airlines access to certain routes, strengthening Lufthansa's European presence.

Germany's Lufthansa Group has finalized its acquisition of the Italian airline ITA Airways, marking a significant milestone for Italy's former flagship carrier. The deal, valued at 325 million euros initially, gives Lufthansa a 41% stake, with plans for full control by 2033.

Approved by the European Commission, the acquisition will ensure competition by permitting rival airlines to operate non-stop flights between Rome or Milan and central Europe. Furthermore, competitors will gain access to long-haul routes to the U.S. and Canada and slot allocations at Milan's Linate Airport.

Carsten Spohr, CEO of Deutsche Lufthansa AG, highlighted that the investment will bolster both the Italian and European aviation markets, enhancing Lufthansa's dominance in Europe. Improved passenger services and connections are expected as early as the upcoming summer schedule.

(With inputs from agencies.)