Economy The collapse and liquidation of "Italian Air" after Qatar...

The collapse and liquidation of “Italian Air” after Qatar Airways bought 49% of its shares

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Last updated: Thursday 19 Jumada II 1441 AH – February 13, 2020 KSA 22:05 – GMT 19:05
Publish date: Thursday 19 Jumada II 1441 AH – February 13, 2020 KSA 21:45 – GMT 18:45

Source: Dubai – Arabic.net

Air Italy, which Qatar Airways has acquired 49% of its shares, has announced that it has stopped its services.

She said that other companies will start operating their latest flights immediately from today until February 25, according to the website “Flight Global”.

The shareholders of Air Italy, which is managed by Alisarda holding 51% of the shares, decided to liquidate them at their meeting today.

A statement of the company stated that the flights booked from February 11 to February 25 will be operated by other airlines. As for the flights following February 25, the tickets will be returned to passengers or travel arrangements will be changed through other companies.

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The collapse of Italian Airlines comes two and a half years after Qatar Airways acquired a 49% minority stake in the airline.

Qatar Airways insists it was ready to continue supporting the carrier, saying, “We were ready again to play our part in supporting the airline’s growth, but this could only be achieved with the commitment of all shareholders.”

Qatar Airways claims it “provided possible support” to Air Italy and its business plan, including providing aircraft and ordering additional aircraft, and says it has been “firmly believing” in the airline and its potential.

Qatar Airways added that it supported management decisions and injected capital when needed.

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