Lufthansa has successfully completed its acquisition of a 41% stake in the Italian state-owned airline ITA, after addressing European antitrust concerns.
The deal, valued at 325 million euros ($334 million), aims to strengthen Lufthansa’s position in the profitable southern European market, particularly following the collapse of Alitalia
In November, the European Commission approved a set of competition remedies, which ensured additional routes for Lufthansa’s competitors, clearing the way for the airline’s acquisition of a 41% stake in ITA to proceed.
These measures helped address antitrust concerns and allowed the deal to move forward, enhancing Lufthansa’s presence in southern Europe.
“With our investment, we will now strengthen the Italian and European aviation market and the position of the Lufthansa Group as number one in Europe,” Lufthansa CEO Carsten Spohr said.
“Our joint passengers worldwide will benefit from improved offers and optimised connections as early as this upcoming summer flight schedule.”
Lufthansa noted that the remaining 59% of ITA will continue to be held by the Italian Ministry of Economy and Finance for the time being
