The new airline being created to replace the long financially ailing Alitalia will take off on Oct. 15 with its first flights, the Italian Economy Ministry announced Thursday. In a statement, the ministry said the new company, ITA, will be fully operating on that date, following the positive outcome of discussions with the European Union’s executive commission. Alitalia’s last flights apparently will operate on Oct. 14.

EU competition officials expressed concerns for years that the Italian government’s financial support for Alitalia violated the bloc’s rules. “The discussion with the European Commission has permitted to arrive at a constructive and balanced solution that guarantees the necessary discontinuity in respect to European rules,″ the ministry said.