Europe’s antitrust authority announced Wednesday its conditional approval of Lufthansa’s plan to acquire a 41% stake in ITA Airways for €325 million ($350 million), provided the airlines relinquish flight slots to competitors.
Lufthansa €325M ITA Air Takeover : Antitrust Concerns Addressed
The European Commission stated that the remedies proposed by Deutsche Lufthansa AG and Italy’s Ministry of Economy and Finance “fully address competition concerns.” The ministry had nationalized Alitalia in 2020, rebranding it as ITA Airways.
Slot Surrender Agreements
Lufthansa and the Italian ministry agreed to cede slots for short-haul flights from Italy to other European destinations to one or two rival airlines. Additionally, they will offer these competitors take-off and landing slots at Milan Linate Airport.
Lufthansa €325M ITA Air Takeover : Long-Haul Flight Commitments
For long-haul flights from Italy, the airlines committed to swapping slots or entering into interlining agreements, allowing travelers to connect flights across different carriers.
Conditional Approval and Monitoring
Approval of the Lufthansa €325M ITA Air takeover hinges on the full adherence to these commitments, the commission emphasized. An independent trustee will be appointed to monitor the implementation of these measures.
