Deutsche Lufthansa Acquires Minority Stake in ITA Airways
Frankfurt, Germany - Deutsche Lufthansa AG (LHA.DE) has completed its acquisition of a 41% stake in Italian carrier ITA Airways. The deal, valued at €325 million ($334 million), marks a significant investment by Lufthansa in one of Europe's largest aviation markets.
The German airline's acquisition solidifies its position as the leading carrier in Europe, while strengthening the Italian aviation industry. The deal also gives Lufthansa the option to purchase the remaining 59% stake in ITA Airways, potentially providing it with full control over the airline.
"With this investment, we will reinforce the Italian and European aviation market and solidify the Lufthansa Group's position as the top carrier in Europe," said Lufthansa CEO Carsten Spohr.
The two-stage deal has faced scrutiny from the European Commission, raising concerns about its impact on long-haul travel. However, Lufthansa has defended the acquisition, emphasizing its commitment to competition and consumer choice.
The deal reflects Lufthansa's strategy to expand its presence in Europe and become a major player in the Italian aviation market. The investment is expected to strengthen the airline's network and provide additional benefits to Lufthansa customers.