Lufthansa Receives Approval to Take Stake in ITA Airways

The European Commission has approved the transaction for the sale to Deutsche Lufthansa A.G. of a 41% stake of the Ministry of Economy and Finance in ITA Airways. ITA Airways has welcomed the decision.

The completion of the transaction is subject to the fulfilment of certain conditions set by the European Commission, for which a maximum period of four months has been set from the date of the decision.

Today at the Ministry of Economy and Finance a joint press conference was held by the Minister of Economy and Finance Giancarlo Giorgetti, the CEO of Deutsche Lufthansa Carsten Spohr and the Chairman of ITA Airways Antonino Turicchi, in the presence of the major national and international media, in which were illustrated the conditions of the decision and the next steps of the transaction, which represents a very important milestone in the Company's young history.

"The authorization received today from the European Commission, is a virtuous example of consolidation in the airline industry and marks a crucial milestone in the development of ITA Airways,", said Antonino Turicchi, Chairman of ITA Airways.

"Once the conditions set by the Commission are met, the Company will be able to strengthen itself thanks to Lufthansa's capital investment and achieve synergies by becoming part of one of the world's largest aviation groups, thereby ensuring greater connectivity for the country".