April 23, 2018 / 9:59 AM / a month ago

EU regulators to investigate 900 mln euro state aid for Alitalia

BRUSSELS, April 23 (Reuters) - EU antitrust regulators will investigate whether Italy’s decision to grant 900 million euros ($1.1 billion) in aid to troubled airline Alitalia breached the bloc’s state aid rules.

Alitalia, in which Etihad Airways holds a 49 percent stake, was placed under extraordinary administration in May 2017. Italian authorities gave a total of 900 million euros to the carrier to ensure its financing during this period while also opening a tender aimed at finding a buyer for its assets.

The European Commission can order Italy to recover the money if it finds that the aid is illegal.

$1 = 0.8177 euros Reporting by Foo Yun Chee; editing by Robert-Jan Bartunek

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