Latest Deals

German aviation company Lufthansa Group has acquired a 41% stake in ITA Airways. Lufthansa Group can opt to acquire the remaining shares. The Italian Ministry of Economy and Finance (MEF) retains the remaining 59% of ITA Airways for now. The transaction was officially sealed with a capital increase of €325m ($334m) by Lufthansa. The move is said to position Italy as a new “home market” for Lufthansa, with ITA Airways becoming its fifth network airline.

The Airport Authority Hong Kong (AAHK) has signed an agreement to purchase a 35% stake in Zhuhai Airport, an airport serving the city of Zhuhai in South Central China’s Guangdong province, for CNY4.3bn ($593.8bn). Hong Kong-Zhuhai Airport Management, a subsidiary of AAHK, will also have its management rights for Zhuhai Airport extended until 2046. This extension builds on a contract that began in 2006.

Fairfax India Holdings has announced an agreement to acquire an additional 10% of Bangalore International Airport Limited (BIAL) from Siemens Project Ventures. This acquisition will increase the Indian investment company’s (which trades and is based in Toronto, Canada) total equity interest in BIAL from 64% to 74%. The transaction is valued at $255m and is expected to close in the first quarter of 2025.

Airport management company AviAlliance has agreed to acquire UK-based airport operator AGS Airports from Ferrovial and Macquarie in a deal valued at £1.53bn ($1.95bn). AGS Airports was established in 2014 as a 50:50 joint venture between Ferrovial and Macquarie. It operates three UK airports in Aberdeen, Glasgow, and Southampton.