Air Italy to be merged into Meridiana fly by February 15 – World Airline News com

January 19, 2013

Air Italy (2nd) (Rome) will be merged into Meridiana fly (Olbia) by February 15. According to this report by First Online (translated from Italian), “Meridiana SpA will acquire all of the ordinary shares held by the former shareholders of Meridiana fly – Air Italy Holding Ltd. (Marchin Investments BV, Pathfinder Ltd and Zain Holding Ltd., which together control 38.71% of the shares of the combined airline group). Meridiana fly will then turn over 89.91% of the share capital to its new controlling shareholder AKFED, controlled by Prince Karīm al-Hussayn Aga Khan. The transfer of shares will be completed by February 15. The new CEO of the reorganized Meridiana fly will be Roberto Scaramella, the aviation director of AKFED, who replaces Joseph Gentile.”

Read the full report (in Italian): CLICK HERE

Meridiana fly was originally founded as Alisarda on March 29, 1963 by Prince Karīm al-Hussayn Aga Khan, with the aim to promote tourism in Sardinia. Scheduled flights have been operated since 1964.

On May 3, 1991, Alisarda  was renamed Meridiana.

At the end of February 2010, a new airline was founded: Meridiana fly, born from the merger of Eurofly, a company specializing in charter flights and Meridiana, with a scheduled European and national route network, mostly aimed at connecting the main Italian airports with the two main islands of Sardinia and Sicily.

Air Italy (2nd) joined the Meridiana Group in October 2011.

Additionally, according to ch-aviation, the AOCs of both carriers were revoked by ENAC this week due to the financial difficulties of the two carriers and were issued temporary AOCs for a year.

Read the full report: CLICK HERE

Currently the two Italian airlines are now sharing the same website. Aga Khan is expected to increase his share holdings and investment in the new airline.

Read more on World Airline News com

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