Italy's ITA Airways said on Monday it would resume flights between Rome and Tel Aviv, starting Feb. 1, after a four-month suspension triggered by conflicts in the Middle Eastern region.

Germany's Lufthansa Group (OTCQX:DLAKY) (OTCQX:DLAKF) finalized its acquisition of a 41% stake in the Italian airline ITA Airways for €325 million (approximately $350 million) from the Italian government.

British Airways and ITA Airways are to resume flights to Tel Aviv as tensions in the region ease. Wizz Air and the Lufthansa Group are also returning to Israel.

Deutsche Lufthansa AG completed the acquisition of a minority stake in Italian carrier ITA Airways late on Friday after first making an offer for its competitor in January 2023.

Lufthansa finalised its acquisition of a 41% stake in Italian state-owned airline ITA after European antitrust remedies were put in place, it said on Friday, in a deal designed to boost the carrier's presence in the lucrative southern European market.

The Italian airline ITA Airways is a new member of the Lufthansa Group. The Italian Ministry of Economy and Finance (MEF) and Europe’s leading aviation group concluded the transaction today. As a result, the Lufthansa Group has a 41 percent stake in the Italian airline ITA Airways. The remaining 59 percent will initially continue to be held by MEF.

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

Two out of the five new ITA Airways directors are Lufthansa's executives, including Joerg Eberhart, who will be the CEO of the Italian airline.