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Lufthansa proposes concessions for ITA Airways stake acquisition

EditorEmilio Ghigini
Published 01/09/2024, 06:56 AM
Updated 01/09/2024, 06:56 AM
© Reuters.

BRUSSELS - German airline Lufthansa is seeking to secure European Commission approval for its planned acquisition of a 41% stake in Italy's ITA Airways. In an effort to address competition concerns, Lufthansa has offered to divest slots at Milan's Enrico Forlanini Airport. The proposed deal, valued at €325M, is currently under the Commission's scrutiny, with a decision expected by January 29, 2024.

The European Commission's review, which commenced on November 30, 2023, is focused on assessing the acquisition's potential effects on the competitive landscape for passenger air transport routes within Europe and possibly further afield.

To alleviate regulatory concerns, Lufthansa's concession to release slots at Milan's airport is aimed at ensuring that competition remains fair and that consumers have access to a variety of choices when it comes to air travel. The Commission's decision later this month will determine whether Lufthansa's efforts to negotiate approval will be successful, allowing the airline to proceed with its investment in ITA Airways.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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