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EU Okays ITA, Orders Alitalia to Repay 900 Mln Euros Illegal State Aid

Alitalia planes are seen on the tarmac at Fiumicino International Airport as talks between Italy and the European Commission over the revamp of Alitalia are due to enter a key phase, in Rome, Italy, April 15, 2021. REUTERS/Remo Casilli/File Photo
Alitalia planes are seen on the tarmac at Fiumicino International Airport as talks between Italy and the European Commission over the revamp of Alitalia are due to enter a key phase, in Rome, Italy, April 15, 2021. REUTERS/Remo Casilli/File Photo
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EU Okays ITA, Orders Alitalia to Repay 900 Mln Euros Illegal State Aid

Alitalia planes are seen on the tarmac at Fiumicino International Airport as talks between Italy and the European Commission over the revamp of Alitalia are due to enter a key phase, in Rome, Italy, April 15, 2021. REUTERS/Remo Casilli/File Photo
Alitalia planes are seen on the tarmac at Fiumicino International Airport as talks between Italy and the European Commission over the revamp of Alitalia are due to enter a key phase, in Rome, Italy, April 15, 2021. REUTERS/Remo Casilli/File Photo

EU competition regulators on Friday gave the green light to Alitalia's successor Italia Trasporto Aereo (ITA) and also ordered the Italian flag carrier to repay 900 million euros ($1.1 billion) in illegal state aid.

The European Commission said a 1.35 billion euro capital injection by Italy into ITA over the next three years is in line with EU state aid rules as it will be done according to market conditions, reported Reuters.

ITA will operate with less than half of Alitalia's fleet of aircraft and will only be allow to take over limited parts of its predecessor's handling and maintenance businesses.

Alitalia's brand will be sold in an open tender.

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Egypt's Government Says Strategic Wheat Reserves Good for 4 Months

FILE PHOTO: A wheat crop ready for harvest in a farmer’s field near Kindersley, Saskatchewan, Canada September 5, 2024. REUTERS/Todd Korol/File Photo
FILE PHOTO: A wheat crop ready for harvest in a farmer’s field near Kindersley, Saskatchewan, Canada September 5, 2024. REUTERS/Todd Korol/File Photo
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Egypt's Government Says Strategic Wheat Reserves Good for 4 Months

FILE PHOTO: A wheat crop ready for harvest in a farmer’s field near Kindersley, Saskatchewan, Canada September 5, 2024. REUTERS/Todd Korol/File Photo
FILE PHOTO: A wheat crop ready for harvest in a farmer’s field near Kindersley, Saskatchewan, Canada September 5, 2024. REUTERS/Todd Korol/File Photo

Egypt has strategic wheat reserves that are sufficient for four months of local consumption, according to a statement by the Egyptian Cabinet issued on Saturday.

It said the strategic sugar reserves were sufficient for 13.5 months, while vegetable oil reserves were enough for 6.3 months.