The rumor mill was abuzz earlier this morning with talks of Air Italy being on the verge of bankruptcy. The airline’s shareholders (Alisarda and Qatar Airways through AQA Holding spa) held a meeting to determine the way forward giving the company’s dire liquidity issues.
The board has since reached a decision to enter “liquidazione in bonis” or voluntary liquidation, and will discontinue flights after February 25, 2020. The company will pay off all its respective creditors and employees during the winding down stages.
According to their press release, the airline will continue operating from now until the 25th, and will try to accommodate affected passengers as best as possible in that time. Those who cannot be re-accommodated in the next two weeks will be fully refunded. Please see the following press release for more information. We will also keep you updated via this post accordingly.
Following the shareholders’ meeting of Air Italy (Alisarda and Qatar Airways through AQA Holding spa) which decided the “liquidazione in bonis” of the company, and with the aim of minimizing the inconvenience for passengers holding Air Italy tickets, we inform all passengers that:
From 11 to 25 February2020 inclusive, all Air Italy flights will be operated by other carriers at the times and on the days previously scheduled; all passengers who booked flights (outward or return) after 25 February 2020 will be re-protected or fully refunded.
- For all tickets scheduled to depart by 25 February 2020 and to return after 25 February 2020:
- the outward journey will be regularly operated, without any changes to the original scheduled dates and times and the same flight conditions; with regards to the return flight, passengers will be offered a travel option on the first available flight of another carrier, the details of which will be provided from 18 February 2020 by calling the following number from Italy: 892928, from abroad: +39078952682, from Usa: +1 866 3876359, from Canada: +1 800 7461888, or by contacting the travel agency in the case of purchase through this channel.
- Tickets for return flights after 25 February 2020:
- If purchased through the Air Italy ticket office, they will be fully refunded by going to any Air Italy ticket office
- If purchased through a travel agency it will be necessary to request a refund or a change of travel by contacting the agency
All bookings for which the travel document has not been completed through the purchase of the ticket will automatically lapse. For more information, the toll-free number from Italy: 892928; from abroad: +39078952682 from Usa: +1 866 3876359 from Canada: +1 800 7461888
Qatar has also issued a statement regarding the issue.
Since the acquisition on 28 September 2017 of a minority stake in Air Italy, Qatar Airways has strongly believed in the company and in 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.
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.
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 travelling 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.
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.
FlightRadar24 has already pointed out a few of the supporting carriers including Wamos Air, Albastar, Neos, and Tayaran Jet.
[Featured Photo: Breaking Travel News/Flickr]