Lufthansa wants to take over Ita further
Published: Tuesday, Jan 23rd 2024, 16:20
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Despite the extended competition review by the EU Commission, Lufthansa remains committed to acquiring a stake in the Italian state airline Ita. The company announced on Tuesday that it would work hard to bring the review to a swift conclusion and to subsequently implement the investment.
The Swiss parent company continues to expect the transaction to be approved. Ita Airways should become a complementary and important part of the Lufthansa Group, according to the airline.
Europe's highest-revenue aviation group already operates several hubs with the four network airlines Lufthansa, Austrian, Swiss and Brussels. It is convinced that an investment in Ita would have an overall positive effect on competition in Italy and Europe, the statement continued.
The EU's competition watchdogs have refused Lufthansa's planned acquisition of Ita for the time being and have launched an in-depth investigation into the consequences for competition law. A preliminary investigation has shown that the merger could reduce competition on some short and long-haul routes, the EU Commission announced on Tuesday. The extended merger control is limited until June 6.
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