Up, up and away! Lufthansa gets EU nod to buy stake in ITA Airways

The European Union says that a merger between the two airlines will not breach antitrust rules.

Transcript

00:00The European Commission has given the green light to Lufstanza to acquire a stake in Ita

00:06Airways.

00:07For 325 million euros, Lufstanza can buy a 41% share of the Italian airline Ita.

00:16The long-awaited decision has been welcomed by the Italian Prime Minister Giorgia Meloni.

00:21A large financial burden has been lifted from the shoulders of the Italian budget, while

00:27it will also be able to maintain the security of air transport services.

00:58Lufstanza's CEO has also welcomed the decision.

01:02He defined it as a clear signal for strong air traffic in Europe, which can successfully

01:07assert itself in global competition.

01:12The agreement comes under certain conditions that include ensuring that other airlines

01:17can launch new flights and receive slots in order not to reduce competition.

01:23The deal cannot be finalized by the Commission until rival airlines agree to benefit from

01:28the anti-competitive measures.