The Italian Ministry of Economy and Lufthansa have reached an agreement on the future of Ita Airways.
After weeks of negotiations, steps back and forth, dozens of technical sessions, meetings in Rome and Frankfurt, the two parties are preparing to sign the agreement on Thursday 25 May.
The 40% stake could grow to a later investment of at least 90%, with the German airline group putting forward between €320 million ($345.2 million) and €330 million ($356 million).
If ITA Airways reaches a break-even point in H1 2026, Lufthansa could begin the process to purchase the remaining shares of the Italian carrier for about €500 million ($539.3 million).
The European Union will have to approve the deal, expected to take three to four months once the agreement is signed.