ITA-Lufthansa: agreement in 2024
For the Germans, acquisition is a fundamental step towards transforming into a global airline Group
The green light from the European Commission for Competition to the privatization of the Italian flag carrier ITA Airways is closely linked to the fact that the acquisition by Lufthansa, with a 41% stake (325 million Euros) in the capital of the Italian airline, guarantees fair competition in the air transport market of the Old Continent. There are various issues to be resolved and for this reason a solution is expected at the beginning of 2024.
"We are confident that it can be concluded at the beginning of next year", Lufthansa CEO Carsten Spohr said yesterday. The talks between the management of the German airline, the Italian Ministry of Economy and Finance (MEF) and Brussels continue.
The European Competition Commission was expected to issue a final verdict on the proposed takeover of Lufthansa by the end of 2023. However, the impact of the deal with ITA on competition needs to be assessed: transatlantic routes and airport slots in Germany and Italy are under scrutiny. So the Germans are taking their time: the official notification to Brussels has not yet been sent. Also because this acquisition represents a fundamental step for Lufthansa in the Group's path towards transformation into a "global airline group".
On the same topic, see also the article published by AVIONEWS.
AVIONEWS - World Aeronautical Press Agency