The European Commission yesterday gave its conditional approval to Alitalia's restructuring plan, which includes a €1.2 billion ($1.47 billion) recapitalization of new airline entity AZ Fly and the partial sale of services entity AZ Services to state holding company Fintecna, saying that it does not include any state aid. "On the basis of a thorough and detailed analysis, the Commission has concluded that these recapitalizations do not involve any state aid," VP with responsibility for ...

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