On 25MAY, Lufthansa reached an agreement with the Italian government regarding the acquisition of national carrier ITA Airways, reports Business News Travel.
Pending EU Antitrust approval, Lufthansa will purchase an initial 41 per cent stake in ITA Airways for €325 million (roughly CAD$475 million). The Italian treasury will also contribute a final €250 million (CAD$365 million) installment of public funding to the state-owned carrier.
Lufthansa will pay another €325 million in 2026-2027 for a 49 per cent stake and an additional €80 million (CAD$115) for the remaining 10 percent, likely in 2028.
ITA Airways is anticipated to start codeshare flights with Lufthansa in the coming weeks.
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