EC gives green light to ITA-Lufthansa deal

Jul 04, 2024 221

The European Commission said Wednesday that it has approved the planned merger of Lufthansa and ITA Airways. The EU added, however, that the green light for the operation was conditional on the implementation of remedies to protect competition regarding Milan's Linate airport, short-haul routes between Italy and Central Europe, and long-haul routes between Rome's Fiumicino airport and North America.

The German airline will acquire from a 41% stake in ITA from the Italian economy ministry (MEF) through a 325-million-euro capital increase, with the stake set to rise to 100% in a second phase - by 2033 - for a total investment of 829 million. The MEF currently owns ITA, the company that replaced the loss-making former flag-carrier Alitalia in 2021.

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SOURCE: https://www.ansa.it

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