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Air Italy Goes into Liquidation

Submitted by jhartgen@abi.org on

Air Italy’s investors agreed yesterday to place the struggling Italian carrier into liquidation, the airline said citing “persistent and structural market problems,” Reuters reported. The decision was taken “unanimously,” the carrier said, but in a separate statement Qatar Airways, which holds a 49 percent stake, said that it would have been ready to support the relaunch and growth of the airline. Formerly known as Meridiana, Air Italy is the country’s second-largest airline, behind Alitalia. Regional carrier Alisarda, controlled by the Aga Khan, owns the remaining 51 percent. Under current rules, foreign investors cannot own more than 49 percent of a European airline.