Air Italy (2005) (Milan Malpensa) and sister carrier Meridiana fly (Olbia) have both had their full air operator certificates revoked by Italian civil aviation authority ENAC this week due to the financial difficulties of the two carriers. Both have now been issued temporary air operator certificates instead that will expire in one year. During a turbulent board of directors meeting following the decison, the carriers have decided to fully merge Air Italy into Meridiana fly from February 15 onwards and to replace CEO Giuseppe Gentile by Roberto Scaramella based on a proposal by Meridiana founder and minority investor Aga Khan. The existing Meridiana investors included the Aga Khan Fund for Economic Development will also acquire the 38.71% stake in Meridiana fly and Air Italy currently owned by the Air Italy Holding in which Gentile also owns a share.
News
Air Italy to be merged into Meridiana fly from February 15
About Air Italy (2005)
| Type | Scheduled Carrier |
|---|---|
| Base | Milan Malpensa |
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Meridiana's Air Italy production carrier ceases flight ops
01.03.2018 - 07:00 UTCAir Italy (2005) (Milan Malpensa) has ended flight operations as of March 1, 2018, following the return of its Air Operator's Certificate (AOC) to the Italian civil aviation authority (Ente Nazionale per l'Aviazione Civile - ENAC).
An ENAC statement issued last month indicates the production carrier has since been renamed from "Air Italy S.p.A." to “Air Italy Fleet Management, S.p.A.” (AIFMC). As a consequence of the return of its AOC, the one B737-700, seven B737-800s, and three B767-300(ER)s it had been operating on wet-lease for Meridiana have now transitioned to dry-leases. AIFMC will continue to exist until the primary leases on these aircraft expire.
The move is part of the restructuring of AQA Holding's assets wherein Meridiana fly, S.p.A. has now changed its full legal name to Air Italy, S.p.A, also effective March 1.
AQA Holding is a 49/51 joint-venture between Qatar Airways (QR, Doha Hamad International) and Alisarda, a unit of the Aga Khan Fund for Economic Development (AKFED).
