Days after it announced an investment in South America's LATAM Airlines Group, Qatar Airways (QR, Doha Hamad International) says it has now signed a contribution and shareholders agreement with Alisarda, the parent company of Italian operators, Meridiana fly (Olbia) and Air Italy (2005) (Milan Malpensa).
Announced during the 2016 Farnborough International Air Show, the agreement provides for Qatar Airways' acquisition of a 49% of Meridiana fly’s shares, subject to the fulfillment of certain conditions. The deal is expected to close by early October. Its value was not disclosed.
“Qatar Airways continues to expand its business opportunities around the world, increasing travel options for our passengers while also enhancing our investment portfolio," Qatar Airways Group Chief Executive, Akbar Al Baker, said. “This agreement sets the path to progress our work towards a strong resolution that benefits both the staff and passengers who travel with Meridiana fly.”
The deal comes after months of drawn out discussions between the Qataris, airline management, and airline unions over the extent of cuts needed to trim the carrier's bloated workforce. Following much haggling, the number of retrenchments was revised down from the original 527 to 396.
Italy's second largest carrier after Etihad Airways-backed Alitalia (AZA, Rome Fiumicino), Meridiana fly operates two B737-300s, one B737-400 (leased from VVB Aviation Malta (Malta International)), three B737-700s, six B737-800s, one B767-200(ER), three B767-300(ER)s, six MD-82s, and one MD-83.
