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EU probes Lufthansa’s stake purchase in ITA Airways
EU officials have opened an in-depth probe of the proposed minority stake purchase of Italy’s ITA Airways for anti-trust concerns.
EU regulators have voiced concerns about how it may shrink competition and consumer choice ‘on several short-haul and long-haul routes in and out of Italy.’
The German flag carrier agreed to buy a 41% stake in ITA Airways.
Crucially, the purchase agreement allows Lufthansa to buy up to 100% of ITA Airways over time.
The European Commission said concessions already made to avoid a lengthy anti-trust probe haven’t allayed all anti competition fears
Lufthansa vowed to ‘work vigorously for a swift conclusion of the EU Commission’s review.’
According to sources, Lufthansa offered to give up some airport slots at Milan Linate Airport.
This is not enough to satisfy the EU, they said.
Regulators want further concessions on some Lufthansa flights from Europe to the US.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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