The EU Antitrust Authority is expected to approve the sale of Ita Airways shares to Lufthansa with some conditions, likely on July 3rd. This comes after six months of negotiations involving the Ministry of Economy and Finance, Ita Airways, Lufthansa, and European Competition Authority led by Margrethe Vestager.
Ita Airways was established three years ago as part of the restructuring of the former Alitalia, which had accumulated significant debts over several decades. The sale of 41% of Ita Airways to Lufthansa for 325 million euros was agreed upon 14 months ago as a first step towards the carrier’s full acquisition by the German group.
The Italian domestic aviation market has been expanding, with record numbers of passengers passing through Italian airports. This growth presents opportunities for airlines like Ita Airways to expand their operations and provide customers with more choices for travel. With Lufthansa as its partner, Ita Airways is well-positioned to capitalize on these opportunities and continue to grow its market share in the competitive aviation industry.
As part of the agreement between Mef and Lufthansa, Ita Airways may be barred from joining the joint venture between Lufthansa, United, and Air Canada for North America. Additionally, it could be required to cede a number of slots at Linate airport to promote competition. The purchase of Ita Airways by Lufthansa is seen as a strategic move to strengthen the German group’s presence in the Italian market, a key destination for tourism.