The Italian government has given the green light to a new state-owned company that will take over the assets of the crisis-stricken airline Alitalia.

”"Today, Italy's new flagship is born," said Transport Minister Paola De Micheli as she signed the decision along with several other ministers late Friday.

Alitalia has been struggling with financial problems for at least ten years and, like the entire aviation industry, has been hit hard by the corona crisis.

The nationalization plan also needs to be approved by the European Commission.

Source: TT