The European Commission's competition authority has approved the Lufthansa Group's planned acquisition of 41% of ITA Airways.
"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…”, said Lufthansa Group CEO, Carsten Spohr.
With this clearance, the Lufthansa Group can now complete its €325 million (R6,4bn) acquisition of 41% of ITA Airways in the fourth quarter of 2024.
The deal was approved conditional on Lufthansa's adherence to specific terms and conditions, including giving up ITA's direct long-haul routes to the US.
Upon the closure of the deal, ITA Airways will become Lufthansa Group's fifth network airline and home market. The airline will synchronise with Lufthansa's worldwide sales, aircraft and fuel purchasing. ITA's Volare loyalty programme will work hand-in-hand with Miles & More.
Furthermore, Rome’s Fiumicino Airport will become the Lufthansa Group's sixth hub and its southernmost.
"The acquisition of ITA Airways strengthens the internationalisation of the Lufthansa Group... with the five-star hub in Rome we are also extending our premium offering and better connecting strategic future markets south of the Equator to our network," said Spohr.
