Deutsche Lufthansa AG has exercised an option to increase its stake in ITA Airways from 41 percent to 90 percent, acquiring an additional 49 percent of shares for 325 million euros.
The transaction, announced on May 12, follows the group’s initial purchase of a 41 percent minority stake in January 2025 through a capital increase of 325 million euros. At that time, the Italian Ministry of Economy and Finance retained the remaining 59 percent. The European Commission approved the initial deal in November 2024 with remedies, after which non-EU competition authorities also cleared it.
Options for acquiring the remaining shares were agreed upon between Lufthansa and the MEF, exercisable from 2026. Reports indicate the second block acquisition could complete by late June 2026, with some sources citing a total of 425 million euros including a 100 million euro earnout based on ITA Airways performance.
ITA Airways now operates as the fifth network airline in the Lufthansa Group, alongside hubs at Rome Fiumicino and Milan Linate. Early collaborations include integration of frequent flyer programs, with Miles & More participants earning miles on ITA flights and further codeshares, lounge access, and Star Alliance membership planned.