EC set to okay Alitalia’s revamp plan


  • Business
  • Saturday, 04 Jun 2005

BRUSSELS: The European Commission is set to approve a restructuring plan for Italy's struggling airline Alitalia next week, though strict conditions will be attached, a source close to the case said on Thursday. 

The commission's long awaited green light is seen helping the airline avoid bankruptcy, but it will likely anger Alitalia's European counterparts, who oppose what they consider to be another state-sponsored rescue. 

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