Lufthansa acquires a 41% stake in Italy’s ITA Airways

Lufthansa to acquire stake in Italy’s ITA: Germany’s Lufthansa Airlines has been given the green light from the EU to acquire a 41% stake in Italy’s ITA Airways, Reuters reported last week. Under the agreement, Lufthansa has two years to review ITA’s financial condition, after which it could push for a full takeover of the carrier. This won’t be a first for Lufthansa, which took over Swiss Airlines and Brussels Airlines in a similar manner. The European Commission had been considering approving the acquisition for over a year, which it granted after receiving a number of concessions from the German airline for which the details are still being sorted out.