After the owners of Alisarda and Qatar Airways refused to spend additional resources in the venture, Air Italy entered liquidation.
Based on the sales of € 283 million, the carrier lost € 164 million in the year 2018.
Air Italy announced in a tweet that all its services would be conducted by alternative airlines as from the date of 25th February 2020. Check-outs shall take effect on the pre-scheduled times and days.
The resolution stated that all flights booked after this date, the clients would be reimbursed their funds to reduce inconvenience.
A total of 13 aircraft flew from Air Italy this includes Boeing 737, Boeing 737 Max 8 and an Airbus A330 etc.
The company offers international, European, and intercontinental services to over 34 scheduled destinations. It runs from Milan Malpensa Airport’s second-largest airline in Italy.
Qatar Airways said in a statement: “In terms of the position of our minority shareholder, Qatar Airways has consistently supported Air Italy.
Qatar Airways has supported Air travel from the very start, from releasing its fleet aircraft to ordering new aircraft for Air Italy, promoting management choices and supplying capital and investment as required and permitted.”
Amid a growing competitive environment and increasingly challenging market conditions, Qatar Airways has continually reaffirmed its pledge.
To continue investment in the company, as a minority shareholder, to create value for Italy and the general public traveling there.
In September 2017, the Middle East airline bought 49 % shares in Air Italy.
Qatar Airways was established once again to contribute to the airline’s development. But this would only be feasible if all shareholders made a commitment regarding the same.”