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European airline Deal for a minority share in Italy’s troubled ITA Airways is signed by Lufthansa

On August 19, 2020, Lufthansa Group signed an agreement to purchase a minority stake in Italian airline ITA Airways, which has been struggling financially in recent months. The deal will see Lufthansa take a 25 percent stake in ITA, and will involve a capital contribution of around €150 million. The partnership will help improve the profitability of ITA, while Lufthansa will benefit from access to the Italian market. The agreement is subject to regulatory approval in Italy.