Air Italy (2005) (I9, 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 Int'l) and Alisarda, a unit of the Aga Khan Fund for Economic Development (AKFED).