Lufthansa's ITA Deal Hangs in the Balance as EU Deadline Looms [Financial Post (Toronto, Ontario, Canada)]
DEUTSCHE LUFTHANSA S/ADR (DLAKY)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — The fate of Deutsche Lufthansa AG's €325 million ($354 million) investment into ITA Airways hangs in the balance as European Union regulators push the German airline to make concessions it isn't prepared to accept. With the deal deadline just one month away the European Commission has put pressure on Lufthansa and the Italian Finance Ministry to draw up a remedy package that will help to protect competition between airlines on transatlantic routes in particular. This mirrors similar EU concerns over short-haul flights in March. Article content However, Lufthansa isn't prepared to reopen its joint venture with United Airlines and Air Canada to solve the EU's issues — sparking fears that the carrier may not be able to come up with a package that meets the bloc's demands, according to a person familiar with the matter. Uncertainty around the deal a
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