NSTworld: AirItaly is held 51 per cent by the AgaKhan and 49 per cent by QatarAirways. It employs about 1,200 people.
The company – formerly called Meridiana – has lost hundreds of millions of euros in the past several years as it has struggled to navigate a competitive industry facing multiple challenges.
“From Feb 11 to 25 inclusive, all Air Italy flights will be guaranteed by other companies at the planned times and days,” said the company in a statement.Launched with great fanfare two years ago, Air Italy had hoped to benefit from ongoing problems at rival Alitalia, Italy’s legacy airline, according to business newspaper Il Sole-24 Ore.
In a statement published on Twitter, Qatar Airways said that since it took a minority stake in Sept 2018, it had “provided all possible support to Air Italy” from ordering new aircraft to injecting new capital, and had been prepared to continue investing in the company.
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