News
Qatar Airways set to acquire Meridiana stake
July 1st 2016
Doha-based Qatar Airways will acquire a minority stake in embattled Sardinia-based Meridiana. The two firms on Tuesday concluded two days of intense negotiations. Read More »
Akbar Al Baker-led Qatar Airways has agreed to lay off "less than four hundred" Meridiana staff, Italian deputy minister for economic development, Teresa Bellanova, said on Tuesday. "They were long and difficult negotiations but we managed to put a complicated operation to bed."
The delegation from Qatar initially insisted Meridiana shed at least 500 of its 1,600-member workforce, which almost resulted in the deal falling through.
"Less than 400 workers will be laid off and for 36 months the company is obliged to give these people priority for eventual new hirings," Bellanova said.
Privately-owned, Olbia-headquartered Meridiana has a fleet of 20 aircraft and carries 4 million passengers annually.
Further details of the acquisition have yet to be disclosed.
Qatar Airways will be the second Gulf carrier to take equity in an Italian airline. In 2014, Abu Dhabi’s Etihad Airways took a 49% stake in ailing Italian flag carrier Alitalia.
