EU Approves Lufthansa’s Acquisition of Ita Airways with Conditions, Achieving Growth and Expansion for Both Companies

Today, the EU Antitrust Authority is set to announce approval for the sale of Ita Airways shares to Lufthansa, with possible conditions. This decision comes just one day before the July 4th deadline. After months of negotiations between the Ministry of Economy and Finance, Ita Airways, Lufthansa, and the European Competition Authority, a compromise has been reached regarding the sale of slots at Linate airport and restrictions on routes from Fiumicino to North America.

Following the announcement from Brussels, a press conference will be held by Minister of Economy Giancarlo Giorgetti, Ita Airways president Antonino Turicchi, and Lufthansa CEO Carsten Spohr at the Mef headquarters. Further details about the agreement will be defined in coming months.

It has been 14 months since the initial agreement was reached between the Mef and Lufthansa for the sale of 41% of Ita Airways for 325 million euros. This agreement marks the first step towards complete ownership by Lufthansa, which already owns Austrian Airlines in its portfolio. Nearly three years after its creation from Alitalia’s remnants, Italy’s airline is finally finding a strong industrial partner in Lufthansa. The sale operation was notified to Brussels in November 2023, and concerns about competition have been raised by EU Commission in past six months. With this acquisition, Lufthansa aims to expand its presence in Italian market crucial due to high tourist flows. On other hand Ita Airways needs a strong partner to continue growth trajectory. The transaction is expected to benefit both companies and Italian aviation industry as whole