Industry EU Commission approves Lufthansa Group’s participation in ITA Airways

The EU Commission has given its green light for Lufthansa Group’s participation in Italian flag-carrier airline ITA Airways.

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After weeks of speculation, the competition authority of the European Commission has approved the participation of the Lufthansa Group in Italian flag-carrier ITA Airways. The acquisitions means that Deutsche Lufthansa AG will buy 41 percent in ITA Airways and will subsequently add a new airline into its portfolio.

Carsten Spohr, Chief Executive Officer of Deutsche Lufthansa AG, commented: "The approval from Brussels is excellent news for ITA Airways and Lufthansa and especially for all passengers flying to and from Italy. We look forward to welcoming ITA Airways and its outstanding employees as a new member of our airline family very soon. The decision is also a clear signal for strong air traffic in Europe, which can successfully assert itself in global competition."

The plan to acquire a minority stake in ITA Airways was already granted by Lufthansa, the Italian Ministry of Economy and Finance (MEF) and ITA Airways back in May 2023. The 325 million Euro strong capital contribution will be completed through a capital increase. It is expected to be completed in the fourth quarter of 2024.

ITA Airways will become the fifth network airline for Lufthansa Group and will be closely integrated into the group. The brand will be kept and as part of the multi-hub, multi-airline and multi-brand system successfully established by the Lufthansa Group, the Italian airline will utilize numerous synergies, for example in world-wide sales, the loyalty program Miles & More or also in aircraft and fuel purchasing.

“This will strengthen and further develop the economic situation of ITA Airways. Italy will become the Lufthansa Group's fifth "home market". It will then be the Lufthansa Group's second largest market in terms of revenue after Germany and the USA. Italy is already the second most important market for the company outside its home markets after the USA. In terms of gross domestic product, Italy is the third largest economy in Europe with a strongly export-oriented economy and one of the most popular vacation destinations worldwide,” explained the airline in an statement.

Source © newsroom.lufthansagroup.com

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