Italy`s government said Wednesday it had given the go-ahead for the ailing national flag-carrier Alitalia to be sold to a group of investors for around one billion euros.

The minister for economic development Claudio Scajola authorised the special administrator in charge of Alitalia, Augusto Fantozzi, `to proceed with selling the assets... at a price no less than 1.052 billion euros,` a government statement said.