Lufthansa moves forward with acquisition of ITA Airways with EU approval
02-12-24
The European Commission has granted its approval to the proposed remedial measures for Lufthansa's acquisition of a 41% stake in ITA Airways, valued at €325 million. This decision allows Lufthansa to move forward with its expansion strategy in the Southern European market, while ensuring fair competition in the European airline industry.
As part of the commitments made, Lufthansa and the Italian Ministry of Economy and Finance have agreed to divest certain assets and rights to competing airlines. EasyJet, for example, will receive slots at Milan-Linate airport, allowing it to operate short-haul flights from Rome and Milan to specific destinations in Central Europe. In addition, agreements have been established with IAG (a group that includes Iberia and British Airways) and Air France-KLM to facilitate direct flights and improve one-stop flight connections from Italy to North America.
The Commission has assessed and approved these corrective measures, considering that the beneficiary airlines are independent from Lufthansa and ITA Airways, have the necessary financial strength and a proven track record as viable competitors in the market. These actions seek to maintain an adequate level of competition on all routes affected by the merger.