Air Alps (Innsbruck) has been liquidated after talks with prospective investors, said to have included REFCA, a Russian investment group, and an undisclosed European prospector, reportedly collapsed. With that development, the airline's shareholders, dominated by Welcome Air (Innsbruck) with 76%, elected to wind up the carrier's operations, suspended since November 2012. In a statement, Welcome Air boss, Manfred Helldoppler, said: "Together with the management of Air Alps, we have actively committed ourselves, in recent months, to finding new partners and to exploring new business opportunities. However, since none of the potential investors could provide a sustainable and promising longterm business plan, we see no possibility of [Air Alps] resuming flight operations."