Lufthansa. (Anadolu file photo)
ISTANBUL – Germany's Lufthansa Group said Thursday that it has signed an agreement with Italy’s Finance Ministry on purchasing the 41 percent stake in Italian flag carrier ITA Airways.
The value of the acquisition is 325 million euro (US$348.5 million), according to a statement by Lufthansa.
As part of the agreement, the ministry committed to a capital increase of 250 million euro (US$276) into ITA, the statement said.
"As a network airline, ITA will closely cooperate with Lufthansa Group to benefit from group synergies," it said.
ITA Airways is becoming the fifth network carrier of the German firm.
ITA Airlines was founded in October 2021 after the closure of the 75-year-old Alitalia airline.
The Italian carrier provides 4,000 jobs and carries 10 million passengers annually with a 66-aircraft fleet. (Anadolu)
