On Tuesday, German carrier Lufthansa acknowledged it has made concessions to the European Commission (EC) in an effort to secure approval for its proposed acquisition of a 41% stake in Italy’s ITA Airways.
The German airline Lufthansa conceded on Tuesday it had made concessions to the EC in order to secure its bid for Italian airline ITA Airways. However, Lufthansa did not provide specific details regarding the concessions made.
“In the course of the current review by the European Commission regarding the stake in ITA Airways, the Lufthansa group offered and presented concessions on January 8th. These are being examined by the authority in Brussels,” stated Lufthansa in a released statement. The airline further noted that, as a result of this ongoing review, the European Commission has extended the deadline to January 29.
Lufthansa noted its commitment to maintaining close and constructive communication with all relevant parties during the review process. However, the airline made it clear that it would not disclose the specific details of the concessions offered.
EC confirmed evaluation of May agreement
Earlier in the day, a spokesperson for the European Commission confirmed that the evaluation of the May agreement, outlining Lufthansa’s acquisition of a 41% stake in ITA’s share capital with an investment of €325million over the 2023-2024 period, has commenced.
The spokesperson mentioned both parties have presented their commitments. The provisional deadline for the Commission to decide in this case is 29th January, 2024. The Commission will now assess the commitments presented.
ITA Airways took over from the financially struggling former flag-carrier Alitalia in 2021, with the Italian government assuming full ownership of the airline.