Five years after Alitalia's bankruptcy filing, suitors are lining up for a slice of the Italian flag carrier's successor, the newly launched and now up-for-sale ITA Airways, as a chance to invest in the Italian market. ITA's phoenix-like emergence from the ashes of Alitalia came after a painfully long, drawn-out process: First, the Italian government tried in vain to find an investor for Alitalia; then it nationalized the carrier as the COVID-19 pandemic hit; and, finally, it embarked on the tortuous process of satisfying the European Commission's competition experts that the new, slimmed down carrier would indeed be a separate economic entity from its predecessor.
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