The transaction, which is expected to close in the fourth quarter of 2024, requires both the prior implementation of the remedies negotiated with the EU commission and the approval of other competition authorities outside the EU. Options for the acquisition of the remaining shares in ITA Airways have been agreed between Lufthansa Group and MEF and can be exercised from 2025 at the earliest.
Deutsche Lufthansa AG (Lufthansa Group), the Italian Ministry of Economy and Finance (MEF) and Italia Trasporto Aereo S.p.A (ITA Airways) have expressly welcomed the European Union (EU) commission's approval under competition law.
With this clearance of the competition authority, Lufthansa Group is now able to acquire a minority stake of 41% in ITA Airways and the subsequent acquisition of the remaining shares for a capital contribution of EUR325 million ($474 million), which was agreed upon in May. The investment will be completed through a capital increase.
