The Lufthansa Group has welcomed ITA Airways as its fifth network airline, finalizing a 41% stake in the Italian carrier.

Germany's Lufthansa Group (OTCQX:DLAKY) (OTCQX:DLAKF) finalized its acquisition of a 41% stake in the Italian airline ITA Airways for €325 million (approximately $350 million) from the Italian government.

The Italian airline ITA Airways is a new member of the Lufthansa Group. The Italian Ministry of Economy and Finance (MEF) and Europe’s leading aviation group concluded the transaction today. As a result, the Lufthansa Group has a 41 percent stake in the Italian airline ITA Airways. The remaining 59 percent will initially continue to be held by MEF.

ITA Airways joins Lufthansa, SWISS, Austrian Airlines, and Brussels Airlines as part of the Lufthansa Group's network.

German Lufthansa Group has finalized its acquisition of Italian airline ITA Airways, closing a long period of uncertainty for Italy’s former flagship carrier.

Deutsche Lufthansa AG completed the acquisition of a minority stake in Italian carrier ITA Airways late on Friday after first making an offer for its competitor in January 2023.

Germany's Lufthansa Group has completed its long-sought acquisition of Italian carrier ITA Airways, finalising on 17 January its acquisition of a two-fifths stake in the company.

German aviation company Lufthansa Group has acquired a 41% stake in ITA Airways. Lufthansa Group can opt to acquire the remaining shares. The Italian Ministry of Economy and Finance (MEF) retains the remaining 59% of ITA Airways for now. The transaction was officially sealed with a capital increase of €325m ($334m) by Lufthansa.

Italy's ITA Airways said on Monday it would resume flights between Rome and Tel Aviv, starting Feb. 1, after a four-month suspension triggered by conflicts in the Middle Eastern region.