EU Commission approves Alitalia takeover
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The European Commission in Brussels has approved Alitalia's takeover by an Italian group of investors group and ruled that the consortium will not be required to pay back the 300 million euro bailout granted by the state to the ailing carrier.
The European Commission approved on Wednesday an investor group's plans to takeover Alitalia and ruled that it is not up to them to repay a 300-million-euro state loan to the distressed Italian airline.
The decision leaves it up to the remaining Alitalia structure in liquidation to reimburse the lifeline that Rome threw to the airline in April to keep it afloat while long-term solutions were found, a spokesman said.
Italian Air Company (CAI), a group of Italian business people, made a takeover offer last month for the air passenger transport activities of Alitalia, which was put in special administration in August.
The group had made their offer to buy and relaunch Alitalia conditional on not having to repay the bailout loan to the state.