Hi Oleg,
In Italy they have the "Medaglia al Valore Aeronautico". It was instituted by royal decree in 1927, finalized 1932. It comes in three versions, gold, silver and bronze.
http://www.quirinale.it/qrnw/statico...eronautico.htm
(Click on medal for large size image)
On the uniform this badge is worn (nastrino della medaglia d'oro al valor aeronautico):
http://en.wikipedia.org/wiki/Medal_of_Military_Valor
Gold, silver, bronze:
http://en.wikipedia.org/wiki/File:Va..._medal_BAR.svg
http://en.wikipedia.org/wiki/File:Va..._medal_BAR.svg
http://en.wikipedia.org/wiki/File:Va..._medal_BAR.svg
I speak Italian, lived there for four years, but am no expert on Italian medals. Hopefully an Italian forum memeber can help more.