European Airlines Embark on a Buying Frenzy: Unleashing a Wave of Excitement in the Aviation Industry

European airlines are currently engaged in a‌ buying frenzy, with Lufthansa recently acquiring a‍ 41% stake in Italy’s national airline, ITA, ​for €325m. This move ⁣has​ caused some concern among‍ investors, leading to a drop in Lufthansa’s share price. ⁢ITA, formerly known as Alitalia, has⁣ struggled financially over the years, with⁣ the Italian government having to intervene multiple times⁢ to keep the company afloat. Despite⁤ rebranding as ITA in 2020, the⁣ airline continues to face challenges. Air France-KLM and ⁤Etihad, previous⁤ minority stakeholders, have already written off their investments in ITA. The ⁢Italian government’s significant financial support during ⁤the pandemic highlights the‌ precarious situation of the airline industry. For more information, you can visit www.economist.com.