Lufthansa to Acquire 41% Stake in ITA Airways

Lufthansa is set to acquire a 41% stake in Italian state-owned airline ITA on January 13, following years of negotiations and regulatory hurdles. The initial investment will amount to €325 million, with plans for a complete takeover by 2033 for an additional €830 million. This acquisition is expected to bolster Lufthansa's presence in key European markets, although it has drawn some criticism in Italy. The European Commission has imposed strict conditions on the deal to maintain competition, including the relinquishment of certain takeoff and landing rights at major airports to competitors like EasyJet. Additionally, Lufthansa has agreed to preferential arrangements for passengers traveling with Air France-KLM and International Airlines Group. The deal signifies a significant step in the consolidation of the European airline industry.