Air transport Lufthansa receives green light for investment in Ita

Lufthansa is about to acquire a stake in the Italian airline Ita after the EU Commission approved the necessary conditions. The Italian government has submitted all the necessary documents.

The Italian government has confirmed that nothing stands in the way of Lufthansa's participation in the state-owned airline Ita. The Ministry of Finance in Rome announced that the EU competition authority in Brussels had received all the necessary documents on time. "We are confidently awaiting final approval from the European Commission in order to move forward with the completion of the transaction," it said in a statement.

Negotiations between the Italian state and Lufthansa had recently been delayed, although an agreement in principle had already been reached. According to reports, there were disagreements over the final price. However, the Ministry of Finance stated that the economic terms of the agreement already signed remained unchanged. There was initially no comment from Lufthansa.

Lufthansa plans gradual entry

Lufthansa plans to initially acquire 41 percent of the shares in Ita for a capital contribution of 325 million euros. In the coming years, the German airline could gain full control of the former Alitalia for over 800 million euros. The EU Commission agreed in principle in June, but imposed conditions, including the transfer of take-off and landing rights to competitors.

Background to the negotiations

Negotiations on the acquisition of a stake in the Italian airline by Europe's largest aviation group dragged on for over a year. Ita, which emerged from the troubled Alitalia in 2020, currently employs just under 4,900 people. The takeover by Lufthansa could open up new prospects for the ailing airline.

SDA