Qeshm Airlines (QB, Tehran Mehrabad) has been confiscated by the Iranian government after its owner, Babak Zanjani, was accused of colluding with corrupt Iranian government officials.

Turkey's Anadolu News Agency says control of the airline has now been transferred to the Iranian Oil Ministry as part of reparations owed to Tehran in the case against him. In addition, a 5-star hotel he built on the free-trade zone island of Qeshm will also be confiscated as settlement for IRR42 billion (USD1.52 million) in debt owed for the acquisition of the land it was built on.

Qeshm Airlines operates a diverse fleet of aircraft including five A300-600Rs, three A320-200s, four ARJ-100s, one ARJ-85 as well as four Fokker 100s on flights throughout Iran as well as to Iraq, Turkey and the United Arab Emirates.