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MILAN (AP) — The European Commission on Tuesday announced an in-depth investigation of German airline Lufthansa’s planned takeover of Italian carrier ITA Airways, citing competitive concerns. Lufthansa signed a deal last year for a 41% minority share in the long-struggling ITA Airways, formerly Alitalia. The deal calls for a 325-million-euro ($354 million) investment by Lufthansa, and another 250 million euros ($272 million) from the Italian Finance Ministry. The European Commission cited concerns about reduced competition on short-haul flights between Italy and Central Europe and long-haul routes between Italy and the United States, Canada, Japan and India. ITA Airways and Lufthansa compete on the Central European flights, where low-cost players generally serve secondary airports.
Persons: Gregory Alegi, bailouts, ’ Alegi Organizations: MILAN, European Commission, Lufthansa’s, Italian, ITA Airways, Lufthansa, Alitalia, Italian Finance Ministry, Central, ITA, Air Canada, United, European Union, LUISS University Locations: Italy, Central Europe, United States, Canada, Japan, India, Milan’s Linate
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