Italy: Commission gives green light to Lufthansa's takeover of Ita airline

Italy: Commission gives green light to Lufthansa’s takeover of Ita airline

Ita was created after the closure of the historic Alitala - the final deal is expected to be signed by next November and in the first phase, the German airline will secure 41% of Ita

The European Commission today gave the green light for Lufthansa to buy Italian airline Ita (created after the closure of the historic Alitala).

The deal, as the Italian press reports, should include conditions in favor of preserving free competition in access to Milan’s Linate airport for Ita s flights to Europe and air links between Rome’s Fiumicino airport and North America, with “opening” to new flights, of other airlines.

The final agreement is expected to be signed by next November and in a first phase, the German airline will secure from Rome’s finance ministry 41% of Ita, with a capital increase of €325 million. In a second phase, within 2033 , Lufthansa will acquire 100% of the shares of the Italian carrier, created in 2020 , for €829 million.

“This is an Italian, German and European success, achieved after a tough negotiation, said Italian finance minister,Giancarlo Giorgetti. “The fact that this positive agreement will be signed with Lufthansa will allow us to increase air connections, to and from Italy and to develop our country’s economy. Rome will become the main reference point for air connections with America and Africa,”the Italian minister added.

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