FRANKFURT/ROM (dpa-AFX) - After months of negotiations with the Italian state, Lufthansa has succeeded in acquiring a stake in the airline Ita Airways. The German MDax group is to pay between 320 and 330 million euros into the company's equity for an initial 40 percent stake, media had reported in advance. In the afternoon, both sides in Rome confirmed the agreement in principle, without initially naming any figures.

According to the reports, a further 500 million euros will be paid for an additional 50 to 55 percent of the shares after the planned return to profitability. The Italian state would thus remain on board for the time being - in contrast to Lufthansa's initial plans. The deal is subject to competition law reviews at national and European level.

Italia Trasporto Aereo (Ita), founded in 2020, took over the flight operations of its insolvent predecessor Alitalia in October 2021, but is not its legal successor. However, Ita has secured takeoff and landing rights as well as the Alitalia brand. The legendary name could possibly soon be reactivated under the new corporate umbrella. Lufthansa strategy chief Jorg Eberhart, who already headed the regional subsidiary Air Dolomiti active in northern Italy, is under discussion as the new head of Ita.

Last year, Ita flew in a bottom-line loss of 486 million euros on revenue of just under 1.6 billion euros. At the end of March, the company cited the aftermath of the Corona pandemic, increased fuel costs due to the Ukraine war and the poor euro-dollar exchange rate as reasons for the red figures.

It is now targeting 94 aircraft and revenue of 4.1 billion euros for 2027. Lufthansa CEO Carsten Spohr spoke of a win-win situation for Italy, Ita and his company. He wants to bring the lean Alitalia successor with its young fleet into the profit zone via higher utilization, cheaper purchasing and better flight coordination.

Lufthansa has been trying to gain a foothold in its second most important foreign market for many years. An attempt launched in 2009 under the name Lufthansa Italia came to an end in 2011. Currently, the Group is only attracting transfer passengers from rich northern Italy to the Munich hub with flights operated by Air Dolomiti. Now Lufthansa is using Ita to acquire market share in an environment dominated by external low-cost carriers such as Ryanair and Easyjet.

Deutsche Lufthansa AG has already acquired the former state-owned airlines of neighboring Switzerland, Austria and Belgium and continued to operate them as independent brands. The Belgian Sabena successor Brussels Airlines had been taken over by Lufthansa in two stages, initially also starting with a minority stake. Another possible takeover target is the Portuguese airline Tap./ceb/msw/DP/jha