Lufthansa-ITA Airways, the deal is done: what will change after final approval from the European Commission
After some friction, attunement returned: last night, just before the 11:59 p.m. deadline, "were sent to the [...]
Lufthansa
ITA Airways
After some friction, attunement has returned: Last night, just before the deadline set at 11:59 p.m., "agreements have been sent to the European Commission's Directorate-General for Competition. falling within the corrective measures submitted with reference to the merger transaction involving the entry of Deutsche Lufthansa into the capital of ITA Airways, as provided for in the European Commission's decision of July 3, 2024," reads a note released by the Mef.
In this article:
The Germans - who last week they infuriated XX September Street. - have finally given up their request for a price discount. The confirmation came from the Mef: "the planned economic conditions have not changed," the note reads. In short, the wedding will take place: is now awaiting - "with confidence," the Treasury writes - final approval from the European Commission.
As for competition-saving remedies, according to Corriere della Sera writes, the two sides - ITA e Lufthansa - would be committed to Leave 30 daily slots in Milan-Linate airport to a competitor (probably easyJet). On the other hand, as far as intercontinental connections to Toronto, Washington, and San Francisco are concerned, agreement would be found with the AirFrance-KLM and IAG groups.
Did you get your flight cancelled, miss your connection, land late?
You could get up to 600€ compensation per person
In the plans of the two carriers, the operation involves a Total investment of 829 million euros by Lufthansa: The first payment amounts to 325 million euros, with which LH will purchase the 41% of ITA; after which the German carrier's goal is to acquire, by 2033, with further capital increases, the 100% of the Italian national airline born from the ashes of Alitalia.
European Competition Commissioner Margrethe Vestager and her technical staff will evaluate the package submitted by ITA Airways and Lufthansa: final white smoke is expected by the end of November.
