Lufthansa to buy minority stake at ITA Airways - Breaking The News

Lufthansa to buy minority stake at ITA Airways

25 May

1 min read

EPA-EFE/DOMENIC AQUILINA

Deutsche Lufthansa AG and the Italian Economy and Finance Ministry announced on Thursday they reached a deal on the German company's purchase of a minority stake at the government-owned Italia Trasporto Aereo S.p.A.Airways, more commonly known as ITA Airways.

According to Italian Economy and Finance Minister Giancarlo Giorgetti's statement, the acquisition plan projected growth in revenue of €2.5 billion this year and €4.1 billion in 2027. The Italian flag carrier's fleet will increase from 71 to 94 airplanes, and its staff to 4,300 in 2023 and to over 5,500 at the completion of the plan.

The financial details of the agreement were not disclosed.

lufthansa mergers and acquisitions

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