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Italy's ITA Airways is heading for a full-year profit and is in good financial shape for a planned tie-up with Lufthansa which can yield significant synergies, the Italian carrier's chairman Antonino Turicchi said in a newspaper interview on Wednesday. Lufthansa said last week it had submitted a package of remedies to the European Commission required to secure EU antitrust approval to take a minority stake in state-owned ITA, bringing it a step closer to closing the deal. Turicchi told daily Il Messaggero that the company's earnings before interest and tax stood at 40 million euros ($42.36 million) at the end of October and would close the year in positive territory, and it had cash reserves of over 550 million euros.
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