Air Italy is reportedly facing a critical financial decision point. Today a special board meeting will be held to discuss the options.
The airline is a subsidiary of AQA Holding and is owned by Alisarda (51%) and Qatar Airways (49%). Because of European rules, Qatar Airways cannot increase its share.
The airline operates a fleet of Boeing 737 Next Generation, Boeing 737 MAX 8 and Airbus A330-200 aircraft to over 34 scheduled domestic, European and intercontinental destinations.
The airlines operates its main hub at Milan Malpensa Airport.
Previously Qatar Airways had big plans for Air Italy. It wanted the carrier to grow quickly to 50 aircraft by 2022. With the grounding of the MAX this is not likely to happen.
The grounding of the Boeing 737-8 MAX 8 has also forced the carrier to sub-lease other expensive aircraft and crews to handle the shortage.
The new Air Italy has also failed to make a profit. It closed 2018 with losses of 164 million euros. It could have recorded a loss of over 200 million euros in 2019.
The key question today will be will the two main shareholders put more money into the failing company or liquidate? The status quo is not working.
Air Italy (3rd) aircraft photo gallery: