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Posted On: 12 February 2020 10:01 am
Updated On: 12 November 2020 02:06 pm

Despite Qatar Airways support, Air Italy to shut down

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Qatar Airways has confirmed its readiness to fully play its part in supporting the troubled airline Air Italy, but despite its 49% stake in the airline, Qatar Airways was unable to sustain it, which investors agreed on 11 February to liquidate, accordng to Skift.

In a statement, Qatar Airways said that since the acquisition on 28 September 2017 of a minority stake in Air Italy, it has strongly believed in the company and its potential, supporting management's proposed business plan with a view to improving Air Italy's growth and job creation, with the addition of long-haul routes and numerous in-flight service improvements, in line with Qatar Airways' globally renowned high standards, as reported by QNA.

The statement added:

"Despite our minority shareholder's role, Qatar Airways has continuously provided all possible support to Air Italy right from the beginning, from releasing aircraft from our fleet and ordering new aircraft for Air Italy, to backing management choices and injecting capital and investment as required and permitted."

The statement also said:

"Even with the changing competitive environment and the increasingly difficult market conditions severely impacting the air transport industry, Qatar Airways has continually reaffirmed its commitment, as a minority shareholder, to continue investing in the company to create value for Italy and the traveling public and to provide support for Air Italy and its staff because for Qatar Airways the focus on employees is a core priority in its strive for excellence - in addition to supporting local communities and other stakeholders."

The statement explained:

"For this reason, Qatar Airways was ready once again to play its part in supporting the growth of the airline, but this would only have been possible with the commitment of all shareholders."

For anyone in Qatar who may have booked a flight with Air Italy, please read the following statement on the Air Italy website.

Source: QNA
Cover image credit: A Fly Guy's Cabin Crew Lounge