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May 26 2023, 07:20 IST/BST
We are positive on this acquisition as consolidation is good for the industry and Lufthansa has already demonstrated (with acquisitions of restructured airlines, e.g. Swiss) how it can deliver synergies by adding markets and gaining access to transfer flows in its multi-hub airline strategy. The investment approach minimises risk, with the option for full takeover timing and price dependent on ITA’s performance.