Lufthansa announced on Tuesday (12) that it will increase its stake in ITA Airways from 41% to 90%, paying 325 million euros. The remaining 10% will temporarily remain in the hands of the Italian State, but may also be acquired by the German group in 2028, which would make the Alitalia heiress entirely German.
With this new operation, Lufthansa's total investment in the Italian airline reaches... 650 milhões de eurosThe group expects to complete the necessary regulatory approvals in the first quarter of 2027.
A strategy built since 2023
The process began in June 2023, when Lufthansa won the bid for the privatization of ITA Airways, paying €325 million for the initial block of shares. The agreement already provided, from the outset, for the possibility of the group expanding its stake and assuming majority control of the company.
Unlike the model adopted in the dispute for TAP, whose 44,9% stake is being contested by Lufthansa and Air France-KLM, in the case of ITA it was ensured from the outset that the winner of the process could strengthen its position in the medium term.
ITA Airways today
Already integrated into the Lufthansa group, ITA has a fleet of 99 aircraft, the same number as TAP, although the Portuguese airline is expected to reach 106 aircraft by the end of the year. The Italian company resulted from the restructuring of Alitalia, which ceased operations in 2020 during the Covid-19 pandemic.
European aviation consolidation is advancing on several fronts. Air France-KLM is also expanding through acquisitions: after securing 19,9% of the Scandinavian company SAS, it increased its stake to 60,5% in July of last year. The deal is expected to be completed in the second half of 2026.
