The Lufthansa Group has welcomed ITA Airways as its fifth network airline, finalizing a 41% stake in the Italian carrier.

Germany's Lufthansa Group (OTCQX:DLAKY) (OTCQX:DLAKF) finalized its acquisition of a 41% stake in the Italian airline ITA Airways for €325 million (approximately $350 million) from the Italian government.

Italy's ITA Airways said on Monday it would resume flights between Rome and Tel Aviv, starting Feb. 1, after a four-month suspension triggered by conflicts in the Middle Eastern region.

The Italian airline ITA Airways is a new member of the Lufthansa Group. The Italian Ministry of Economy and Finance (MEF) and Europe’s leading aviation group concluded the transaction today. As a result, the Lufthansa Group has a 41 percent stake in the Italian airline ITA Airways. The remaining 59 percent will initially continue to be held by MEF.

German Lufthansa Group has finalized its acquisition of Italian airline ITA Airways, closing a long period of uncertainty for Italy’s former flagship carrier.

British Airways and ITA Airways are to resume flights to Tel Aviv as tensions in the region ease. Wizz Air and the Lufthansa Group are also returning to Israel.

Deutsche Lufthansa AG completed the acquisition of a minority stake in Italian carrier ITA Airways late on Friday after first making an offer for its competitor in January 2023.

ITA Airways joins Lufthansa, SWISS, Austrian Airlines, and Brussels Airlines as part of the Lufthansa Group's network.

Germany's Lufthansa Group has completed its long-sought acquisition of Italian carrier ITA Airways, finalising on 17 January its acquisition of a two-fifths stake in the company.