A protracted period of uncertainty for Italy’s erstwhile flagship carrier ended on Friday when the German Lufthansa Group completed its acquisition of Italian airline ITA Airways.
With a total investment of 829 million euros, Lufthansa will acquire complete control of ITA, formerly Alitalia, by 2033, after purchasing an initial 41% interest from the Italian government under the terms of the 325 million euro ($350 million) agreement.
At first, the Italian Treasury will still hold the remaining 59%.
Following a year-long inquiry, the European Commission approved this deal, first disclosed in May 2023, subject to competition protection requirements.
Laptops 1000For instance, the commission pointed out that Lufthansa, ITA, and their affiliates control the majority of flights from Rome and Milan to North America.
The agreement requires the combined company to allocate slots at Milan’s Linate airlines to competitors, allow rival airlines to start nonstop flights between Rome or Milan and airports in central Europe, where competition is minimal, and create space for competitors on long-haul routes between Italy and the US and Canada.
“We will now strengthen the Italian and European aviation market and the Lufthansa Group’s position as number one in Europe with our investment,” stated Carsten Spohr, CEO of Deutsche Lufthansa AG.
This upcoming summer flight schedule will see enhanced offers and optimized connections for our joint passengers worldwide,” he continued.
