Qatar Airways to acquire 49% stake of Italy's Meridiana fly
Date
7/15/2016 4:30:48 AM
(MENAFN- The Peninsula) Akbar Al Baker (centre), Chief Executive, Qatar Airways Group, and Marco Rigotti (right), Chairman, Alisarda, sign the agreement in the presence of Sultan Ali Allana, Director, AKFED, on the sidelines of the Farnborough International Air Show in the UK.
By Mohammad Shoeb
DOHA: Qatar Airways (QA) has signed a contribution and shareholders agreement with Alisarda, the parent company of Meridiana, to acquire a significant interest in the Italian airline.
The agreement provides for QA to purchase 49 percent of Meridiana fly";s shares, subject to the fulfilment of certain conditions, before the closing which is planned for early October.
Meridiana is the second-largest carrier in Italy, with an extensive national and European network, which connects the main Italian airports with Sardinia and provides connectivity with hubs in Europe, the US and Africa.
Meridiana";s fleet consists of Boeing 737s, 767s and MD-82s.
Akbar Al Baker, Chief Executive, Qatar Airways Group, said: 'Qatar Airways continues to expand its business opportunities around the world, increasing travel options for our passengers while enhancing our investment portfolio.”
He added: 'This agreement sets the path to progress our work towards a strong resolution that benefits both the staff and passengers who travel with Meridiana fly.”
The announcement follows a successful and busy week at the Farnborough International Airshow (in the UK), where Qatar Airways also disclosed that it is to acquire up to 10 percent of LATAM Airline Group";s total shares through a capital increase.
At the Airshow, Qatar Airways also announced the purchase of three additional G650ER aircraft from Gulfstream Aerospace, while winning three Skytrax World Airline Awards, including the World";s Best Business Class.
The Peninsula