Lufthansa Slated to Boost EU Offer to Save €325 Million ITA Deal.

DEUTSCHE Lufthansa (1953- ); EUROPEAN Union; AIRLINE routes; AIR travel; TICKET sales

Deutsche Lufthansa AG is expected to submit new concessions to European Union regulators regarding its planned €325 million investment in ITA Airways. The Italian government has signaled this move after a meeting between Finance Minister Giancarlo Giorgetti and EU Competition Commissioner Margrethe Vestager. The previous offer, which involved sharing flight routes and giving up slots on certain routes, was deemed inadequate. The deadline for regulators to approve the deal is June 6, but it may be extended as Lufthansa prepares a revised remedy package. The transaction would see Lufthansa initially buying 41% of ITA Airways from the Italian state, with an option to acquire the rest later. [Extracted from the article]

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