ACT I: The courtesan Violetta holds a party in her home. Among the guests is Alfredo Germont, who has long loved Violetta from afar. Violetta calls for a toast and Alfredo picks up his glass to sing a drinking song (‘Libiamo ne’ lieti calici’). The guests leave the room to go dance but, feeling ill, Violetta tells them to go on without her. Alfredo stays behind and professes his love for her. Violetta tells him that he will soon forget her and gives him a flower, telling him to return when it has faded. After her guests have left, Violetta muses fondly of her new suitor (“Ah, fors’č lui”) but quickly dismisses her sentimental thoughts and opts to keep her life of freedom (“Sempre libera”), even as Alfredo’s voice is heard from outside repronouncing his love.
ACT II, Scene 1: Violetta and Alfredo have been living together in a country house outside of Paris for three months now. Alfredo reflects on his love for Violetta (“De’ miei bollenti spiriti”). Annina, Violetta’s maid, enters and tells Alfredo that Violetta has been selling her belongings to support their life together and he rushes off to Paris to settle their accounts himself. Violetta returns and is surprised by the arrival of Giorgio Germont, Alfredo’s father, who has come to ask Violetta to leave his son. He describes the plight of his daughter (“Pura siccome un angelo”), whose forthcoming marriage is in jeopardy due to Alfredo’s scandalous relationship with the courtesan. Violetta then confesses the seriousness of her illness and argues that Alfredo is all she has. She is eventually convinced that it would be best to end the relationship. Alone and devastated, Violetta writes a farewell note to Alfredo but is interrupted by his return. Unable to help herself, she tells him how much she loves him and then rushes out. (“Amami, Alfredo”) Her servant brings Alfredo her note and Germont returns to console his son. Alfredo will not be consoled and, knowing Violetta is to attend a party that evening in Paris and assuming she has deserted him to return to her old friends, he leaves to confront her.
ACT II, Scene 2: At Flora’s party that evening, Violetta and Alfredo’s separation is the topic of conversation. Alfredo enters, railing about love, and begins to play cards recklessly. Violetta enters on the arm of Baron Douphol and the two men play a hostile game of cards. Alfredo and Violetta speak privately and she asks him to leave, responding to his accusations by claiming that she now loves the Baron. Alfredo angrily calls in the other guests, insulting her and throwing his winnings at her as ‘payment’ for their time together. (“Ogni suo aver tal femina”) Germont arrives to witness his son’s rash act and denounces his behavior. The other guests reproach Alfredo and Douphol challenges him to a duel.
ACT III: Months later in Violetta’s bedroom, Dr. Grenvil tells Annina that Violetta does not have long to live. Alone, Violetta reads a letter from Germont saying that Alfredo now knows the reason for their separation and that he is on his way to ask her forgiveness. Sensing that time is short, Violetta bids farewell to her past (“Addio, del passato”). Alfredo arrives and throws himself into Violetta’s arms. The lovers plan to run away to Paris forever, but it is too late. When Violetta attempts to rise she staggers back and, as Germont and Dr. Grenvil enter, she dies in Alfredo’s arms.