German airline Lufthansa is buying a minority stake of 41 percent in state-owned Italian airline Ita Airways, Lufthansa announced.

The Italian government confirms the deal, which was finalized in Rome by Lufthansa CEO Carsten Spohr and Italian Finance Minister Giancarlo Giorgetti.

Ita Airways was created after a restructuring of the crisis-stricken state-owned company Alitalia. The state has spent over 13 billion euros over the years to get the airline back on its feet, and the agreement with Lufthansa is therefore welcome.

”"The result enables the growth and renewal of the aircraft fleet," a statement from the Italian Finance Ministry said.

According to the plan, the current 71 aircraft will be expanded to 94 by the end of 2027.

The number of employees, which is estimated to be 4,300 this year after new hires, is expected to increase to 5,500.

Alitalia was closed in 2021, after accumulated losses of 11.4 billion euros between the years 2000 and 2020.

Source: TT-DI.SE