ITA-Lufthansa: great anticipation for the green light

24 hours from the ok by Brussels on the wedding of the year

We are 24 hours away from the Brussels green light for the ITA-Lufthansa marriage and the two newlyweds are preparing to tie the knot. July 3 is set as the date on which the European Competition Commission, led by Margrethe Vestager, should officially authorize the operation. In detail, the German Group will purchase 41% of the Italian national airline for 350 million euros.

The green light for the wedding from the European Commission came after Lufthansa and ITA gave up some long-haul operations between Rome-Fiumicino and North America and a package of airport slots (between 15 and 17) at the Milan-Linate airport. These take-off and landing rights will be put back on the market with the aim of not creating dominant positions or monopolies on some routes. The slots will be assigned to the best offering airlines: low-cost easyJet, Ryanair and Wizz Air.

The ITA-Lufthansa agreement provides that the Germans will subsequently acquire 90% of the Italian flag carrier, through a total investment estimated at 829 million euros. Sticking to the question of money, a further 240 million euros of financing is on the way for the purchase of owned aircraft: the goal is to have a fleet of 96 aircraft by the end of 2024.

On the same topic, see also the article published by AVIONEWS.

Cnt - 1259137
Rome, Italy, 07/02/2024 09:12
AVIONEWS - World Aeronautical Press Agency

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