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Lufthansa: ITA Airways acquisition conditionally approved
(CercleFinance.com) - The European Commission has approved the proposed acquisition of joint control of ITA Airways by Deutsche Lufthansa AG and the Italian Ministry of Economy and Finance, subject to specific remedies to safeguard competition.
The Commission's investigation identified concerns regarding the potential reduction of competition on short-haul routes between Italy and Central Europe, as well as on long-haul routes between Italy, the US and Canada.
To address these concerns, Lufthansa and MEF proposed commitments including the divestment of assets to competitors to maintain competitiveness on certain routes, notably from the Rome and Milan airports.
The Commission concluded that these remedies were sufficient to mitigate the identified competitive risks, and conditioned its approval on the full implementation of these commitments, supervised by an independent trustee.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The Commission's investigation identified concerns regarding the potential reduction of competition on short-haul routes between Italy and Central Europe, as well as on long-haul routes between Italy, the US and Canada.
To address these concerns, Lufthansa and MEF proposed commitments including the divestment of assets to competitors to maintain competitiveness on certain routes, notably from the Rome and Milan airports.
The Commission concluded that these remedies were sufficient to mitigate the identified competitive risks, and conditioned its approval on the full implementation of these commitments, supervised by an independent trustee.
Copyright (c) 2024 CercleFinance.com. All rights reserved.