Previous Close | 7.26 |
Open | 7.20 |
Bid | 7.17 x 948200 |
Ask | 7.17 x 1900800 |
Day's Range | 7.05 - 7.21 |
52 Week Range | 6.51 - 10.49 |
Volume | |
Avg. Volume | 4,642,141 |
Market Cap | 8.588B |
Beta (5Y Monthly) | 1.53 |
PE Ratio (TTM) | 4.46 |
EPS (TTM) | 1.61 |
Earnings Date | Apr 30, 2024 |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | May 08, 2024 |
1y Target Est | 9.20 |
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ITA Airways sees no plan B alternative to a proposed merger with Lufthansa which has the full backing of the Italian government and the German airline, ITA's chairman said on Wednesday. Lufthansa is seeking to buy a 41% stake in state-owned ITA, which officially replaced loss-making Alitalia in 2021, but the deal is facing hurdles as European regulators warn it could harm competition and push up prices. "On the part of the Treasury and Lufthansa there is a strong commitment to studying solutions ... There is no plan B because we strongly believe in plan A," Chairman Antonino Turicchi told reporters at ITA headquarters in Rome's Fiumicino airport.
The EU said Deutsche Lufthansa’s acquisition of a minority stake in ITA Airways could hinder competition for certain routes in and out of Italy.
EU antitrust regulators warned on Monday that Lufthansa's intention to buy a minority stake in ITA Airways could harm competition and push up prices, prompting Italy and the German airline to come up with remedies in the coming weeks. Lufthansa's plan to buy a 41% stake in state-owned ITA for 325 million euros ($351 million) underscores sector consolidation alongside British Airways-owner IAG's bid to buy out Spain's Air Europa. The European Commission warned that the Lufthansa and ITA deal could leave users short-changed as it set out its concerns in a charge sheet known as a statement of objections.