Following lengthy discussions, Lufthansa (LHAB) (LHA) Group will acquire a 40% stake in Italy’s newly-created flag carrier ITA Airways, Italian media reports. 

According to sources, the companies have agreed on certain key topics, including ITA’s finances, consolidation of purchases, and other details. 

The carriers also agreed on the role of Rome–Fiumicino International Airport (FCO), which will serve as a hub for flights to Africa and some routes to America. 

News of the agreement was first reported by Italian newspaper Il Fogilio. According to the source, the acquisition will be officially announced week commencing January 24, 2022. 

ITA expressed its intention to become part of Lufthansa Group in November 2021, not long after the airline had commenced operations. The companies have been in negotiations ever since. 

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ITA is currently wholly owned by the Italian government, and was created following the bankruptcy of Alitalia, Italy’s long-suffering former flag carrier. 

Lufthansa Group currently owns Swiss International Air Lines, Brussels Airlines, Austrian Airlines, Air Dolomiti, Eurowings, as well as the German flag carrier Lufthansa (LHAB) (LHA).