European Commission approves Lufthansa's 41% stake acquisition in ITA Airways with conditions to protect competition.
The European Commission has approved Lufthansa's acquisition of a 41% stake in Italy's ITA Airways, with conditions to protect competition. Lufthansa will invest €325 million to acquire the stake, with full control by 2033 through a total investment of €829 million. The Commission approved the deal after a year-long investigation, following conditions that require the merged company to facilitate non-stop flights for rival airlines between Rome and Milan, provide room for rivals on long-haul routes between Italy and the US and Canada, and allocate slots at Milan's Linate airport to competitors.
July 03, 2024
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