Lufthansa Group has received approval from the EU Commission for its acquisition of a 41pc stake in ITA Airways, with plans to acquire the remaining shares from 2025 onwards. The acquisition will bring the Lufthansa group to 140m passengers a year, still trailing Ryanair as the largest airline in Europe by 48m.
The deal includes remedies such as relinquishing short-haul slots at Milan Linate and improving competitiveness on long-haul routes.
ITA Airways aims to join the Star Alliance and members will be able to earn and spend miles with the Miles & More programme.
Lufthansa Group CEO Carsten Spohr said: “The approval from Brussels is excellent news for ITA Airways and Lufthansa and especially for all passengers flying to and from Italy. We look forward to welcoming ITA Airways and its outstanding employees as a new member of our airline family very soon. The decision is also a clear signal for strong air traffic in Europe, which can successfully assert itself in global competition. The acquisition of ITA Airways strengthens the internationalisation of the Lufthansa Group. We offer our guests a significantly greater choice of connections and destinations, and with the 5-star hub in Rome we are also extending our premium offering and better connecting strategic future markets south of the equator to our network. Despite the comprehensive and far-reaching concessions, the investment in ITA Airways strengthens the Lufthansa Group’s position in global competition. We will make ITA Airways a strong and successful part of our company and thus secure its future as an international airline and strong brand. ITA Airways will support us in further expanding our position as Number One in Europe. Eyes will now turn to IAG’s proposed takeover of Air Europa – an agreement for the group to acquire the remaining 80 per cent stake in the Madrid-based carrier was announced in February last year, and IAG recently said that its “expectation remains for the process to complete later this year”.
