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

Lufthansa Group officially purchased a 41% stake in ITA Airways Jan. 17 with its capital infusion of €325 million ($334 million), making the Italian carrier its fifth network airline. The remaining 59% of ITA will initially continue to be held by the Italian Ministry of Economy and Finance (MEF)...

Germany's Lufthansa announced on Friday that it has taken the first step towards a takeover of Italy's state-owned ITA Airways by completing an approved capital increase of €325 million ($334 million).

Germany's Lufthansa Group on Friday finalised its acquisition of Italian airline ITA Airways, closing a long period of uncertainty for Italy's former flagship carrier.

German airline giant Lufthansa's investment in the Italian state-owned airline ITA Airways, which Lufthansa executives expected to be announced on Monday, may face last-minute delays. The closing of the long-agreed deal had not been announced by Monday afternoon,

Under the €325-million ($350-million) deal, Lufthansa takes an initial 41 per cent stake in ITA, formerly Alitalia, from the Italian government, gaining full control by 2033 with a total investment of €829-million. The remaining 59 per cent will initially continue to be held by the Italian Treasury.

Lufthansa has finalised the acquisition of a 41% stake in Italy's ITA Airways, the German flag carrier said on Friday. The remaining 59 percent will initially continue to be held by the Italian Ministry of Economy and Finance,