No. 4 > Linee Aeree Italiane was established in 1946 as Aerolinee Italiane Internazionali, more commonly known as Alitalia, a combination of the Italian words ali (wings) and Italia (Italy).
The italicized tri-line lettering evokes airport runways and movement/advance as it wraps around the blue circular border. A solid-winged arrow mirrors its outlined other-half for graphic impact. The stripes in the wings distinctly reflect the stripes in the letterforms.