Tomorrow morning, the EU Antitrust Authority is expected to announce approval for the sale of the first package of shares of Ita Airways to Lufthansa, with potential requirements. This decision comes just one day before the July 4th deadline. After six months of negotiations between the Ministry of Economy and Finance, Ita Airways, Lufthansa, and the European Competition Authority, it has been reported that a compromise has been reached regarding the sale of slots at Linate airport and restrictions on routes from Fiumicino to North America.
Following the announcement from Brussels, a press conference will be held by Minister of Economy Giancarlo Giorgetti, Ita Airways president Antonino Turicchi, and Lufthansa CEO Carsten Spohr at the Mef headquarters. Further details of the agreement will be defined in the coming months.
It has been 14 months since the initial agreement was reached between the Mef and Lufthansa for the sale of 41% of Ita Airways for 325 million euros. This agreement marks the first step towards the complete sale of the carrier to the German group, which already includes Austrian, Brussels, Swiss, and Eurowings in its portfolio.
Nearly three years after the creation of Ita Airways from the remnants of Alitalia, the Italian carrier is finally finding a strong industrial partner in Lufthansa. This partnership has been sought after multiple attempts, with the last one in 2019. The sale operation was notified to Brussels in November 2023, and concerns about competition have been raised by the EU Commission in the past six months.
With the acquisition of Ita Airways, Lufthansa aims to expand its presence in the Italian market, which is considered crucial due to high tourist flows. Ita Airways, on the other hand, requires a strong partner to continue its growth trajectory. The transaction is expected to benefit both companies and the Italian aviation industry as a whole.