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Ita Airways Sale in Jeopardy
Negotiations for Lufthansa's acquisition of Ita Airways have stalled due to a pricing dispute, despite EU approval.
Italian
Italy
Germany European UnionInternational TradeBusinessNegotiationsAviationAcquisitionDispute
Ita AirwaysLufthansaItalian Ministry Of EconomyEuropean Commission
Giancarlo GiorgettiLea Zuber
- What is the European Commission's role in this deal?
- The European Commission is aware of the impasse and is in contact with both parties, stating that the deal cannot be finalized until it approves a suitable remedy for any identified competition concerns.
- What is the current status of the Ita Airways-Lufthansa deal?
- While the deal is currently stalled, negotiations are ongoing. The deadline was not absolute, so further discussions are expected to resolve the pricing dispute and other issues like slot allocation at Linate airport.
- What is the main reason for the current impasse in the Ita Airways sale?
- The Italian Ministry of Economy and Lufthansa are in disagreement over the price of the second tranche of the Ita Airways acquisition, jeopardizing the deal despite EU approval.
- What is Lufthansa's argument for lowering the price of the second tranche?
- Lufthansa argues that Ita Airways' recent financial performance warrants a lower price for the second tranche (\u20ac603 million), while the Italian government considers this a form of blackmail.
- What is the Italian government's counter-argument to Lufthansa's valuation?
- The Italian government views Lufthansa's valuation of Ita Airways as inaccurate, citing the airline's improving financials and the expected increase in traffic due to the Jubilee year in 2025.