Lufthansa acquires 49% stake in ITA Airways, Italy’s national airline, in €325m deal, boosting Italian finances and air traffic.
Lufthansa ITA Airways Merger
Lufthansa (LH) Group, the Italian Ministry of Economy and Finance (MEF), and ITA Airways (AZ) have welcomed the EU Commission’s approval under competition law.
ITA Airways (AZ) and Lufthansa (LH) are prepared to offer a “substantial” package of slots at Linate airport, allowing a competing carrier to enter on some short-haul routes in Rome (FCO) and Milan (MXP), transferring traffic rights, and even guaranteeing to the EU Antitrust a “freeze” of fares on intercontinental flights between Italy and North America.