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Airlines

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Name: AIR ITALY
7JetSet7 Code: EUY
Status: Operational
Region: EUROPE
City: MILAN
Country: ITALY
Employees 770
Web: eurofly.it
Email:
Telephone: +39 028 268 8100
Fax: +39 028 268 8010
Sita: MILESAZ
Background
(definitions)

Click below for data links:
EUY-2005-01 - EUROFLY A320
EUY-2005-02 - EUROFLY
EUY-2005-05 - EUROFLY A330
EUY-2005-06 - EUROFLY A330
EUY-2005-06 - EUROFLY A330-223
EUY-2005-11 - EUROFLY CHARTERS
EUY-2005-11 - EUROFLY-A
EUY-CABIN ATTENDANTS

FORMED IN 1989 AND STARTED OPERATIONS IN 1990. FORMERLY EUROFLY. LATER MERGED WITH MERIDIANA (ALS) AND IN TURN, LATER MERGED WITH AIR ITALY (ITZ). DOMESTIC & INTERNATIONAL, SCHEDULED & CHARTER, PASSENGER, JET AIRPLANE SERVICES.

ADDRESS:
VLE XXIV MAGGIO 6,
SESTO SAN GIOVANNI
I-20099 MILAN, ITALY

ITALY (ITALIAN REPUBLIC) WAS ESTABLISHED IN 1861, IT COVERS AN AREA OF 301,268 SQ KM, ITS POPULATION IS 58 MILLION, ITS CAPITAL CITY IS ROME, AND ITS OFFICIAL LANGUAGE IS ITALIAN.

FEBRUARY 1996: EUROFLY (EUY) FLIES INCLUSIVE-TOUR CHARTER PASSENGER SERVICES TO EUROPE, AFRICA, AND THE MIDDLE EAST.

HEAVY MAINTENANCE BY ALITALIA (ALI).

ALITALIA (ALI) OWNS (45%), OLIVETTI 45%, & SAN PAOLO FINANCE 10%.

1 MD-83 (49937) EX-AIRTOURS INTERNATIONAL (GUE), (GUI) LEASED 3 YEARS. A320-214 (1937), (GAX) leased.

JUNE 1996: 1 MD-83 (49390), EX-(TTA), (GUI) 3 YEAR LEASED, WITH SABRETECH, ARIZONA, AVIONICS MAINTENANCE, INTERIOR MODIFICATIONS & PAINT.

JULY 1996: SHANNON AEROSPACE TO DO PLANNING, ENGINEERING & MAINTENANCE FOR 2 MD-83'S, + "C" CHECKS FOR 3 YEARS. ALREADY DID 1ST MD-83, 2 YEARS AGO.

OCTOBER 1996: AIR EUROPE ITALY (EIY) IS NEGOTIATING TO PURCHASE THE AIRLINE.

MAY 1997: 36 EMPLOYEES (INCLUDING 34 FLIGHT CREW (FC) & 2 MAINTENANCE TECHNICIANS (MT).

1 MD-83 (53199) EX-TRANSWEDE (TNS), (GUI) LEASED.

DECEMBER 1997: BERGAMO - ROME (FIUMICINO) (DC-9) FOR ALITALIA (ALI).

PLANS TO ADD 5TH MD-83, FOR 1998 SUMMER SEASON.

SELLS 26% (EIY) TO FINFLIGHT.

APRIL 1998: 36 EMPLOYEES (INCLUDING 34 FLIGHT CREW (FC) & 2 MAINTENANCE TECHNICIANS (MT)).

MAY 1998: 1 MD-83 (49940), EX-SUNWAYS (SWH), (GEH) LEASED.

SEPTEMBER 1998: GOVERNMENT OK FOR SERVICES TO CANCUN, SANTO DOMINGO, MALE, AND MOMBASA.

2 ORDERS (NOVEMBER 1998) 767-31BER'S, REQUIRE EXTENDED TWIN-ENGINE OPERATIONS (ETOPS), EX-CHINA SOUTHERN AIRLINES (GUN).

OCTOBER 1998: CODE SHARE WITH (ALI), DORTMUND - LONDON (STANSTED) (ATR42), STUTTGART - ROME (ATR72), HANNOVER - MILAN (B AE 146), COLOGNE - MILAN (ATR72), NUREMBURG - MILAN (ATR42), CHARTER DUSSELDORF - MADEIRA (A319).

767-31BER (26259), (ILF) LEASED, OPERATES FOR ALITALIA (ALI).

DECEMBER 1998: STARTED LONG-HAUL OPERATIONS TO THE CARIBBEAN, KENYA, AND THE MALDIVES.

MARCH 1999: HAS APPLIED FOR EXTENDED TWIN-ENGINE OPERATIONS (ETOPS) APPROVAL FOR NORTH ATLANTIC ROUTE, AND EXPECT TO RECEIVE BY MAY 1999.

APRIL 1999: 2 767-300ER'S, EX-CHINA SOUTHERN AIRLINES (GUN), (ILF) LEASED, NOW FLYING CHARTERS TO CARIBBEAN, & AFRICA, IN COMPETITION WITH AIR EUROPE ITALY (EIY), & LAUDA ITALY (LDI). BOTH WEAR COLORS OF PARENT COMPANY ALITALIA (ALI), WITH RED "EUROFLY" (EUY) TITLES.

36 EMPLOYEES (INCLUDING 34 FLIGHT CREW (FC) & 2 MAINTENANCE TECHNICIANS (MT)).

SITA: TRNEAAZ.

MAY 1999: 1 ORDER (NOVEMBER 1999) 767-300ER, ORIGINALLY INTENDED FOR VARIG (VAR).

AUGUST 1999: 767-300ER 120 MINUTES EXTENDED TWIN-ENGINE OPERATIONS (ETOPS) APPROVAL GRANTED.

NOVEMBER 1999: 1 767-341ER (30342, EI-CTW), (GEH) 4 YEAR LEASED

JANUARY 2000: 1 737-4Q8 (26279), PEGASUS (PGS) LEASED.

APRIL 2000: 65 EMPLOYEES (INCLUDING 34 FLIGHT CREW (FC), & 2 MAINTENANCE TECHNICIANS (MT)).

SITA: TRNEAAZ.

MAY 2000: RETIRES ITS 2 DC-9-51'S. WILL PHASE OUT ITS MD-83 IN 2001.

AUGUST 2000: RECEIVES 180 MINUTES EXTENDED TWIN-ENGINE OPERATIONS (ETOPS) APPROVAL FOR THE 767-300ER.

SEPTEMBER 2000: EUGENIO LAMPO ENGINEERING MANAGER, AND MASSIMO VAIR PROGRAM PLANNING MANAGER POSITIONS ELIMINATED.

OCTOBER 2000: SALVATORE AVARO MANAGING DIRECTOR, EX-ALITALIA (ALI). ALITALIA ACQUIRES 100% OWNERSHIP, BY BUYING 45% FROM OLIVETTI, AND 10% FROM SAN PAOLO BANK. (ALI) ALREADY OWNS 45%.

DECEMBER 2000: 1ST 6 MONTHS = -L 19.9 BILLION: 513,000 PASSENGERS (PAX) (+.7%).

FEBRUARY 2001: EUROFLY (EUY) TO BE ACQUIRED BY AIR VOLARE GROUP (VLR) FROM ALITALIA (ALI).

MARCH 2001: IN MAY 2001, TO REPLACE 5 MD-83'S, WITH 5 A320-200'S, EX-ALITALIA (ALI).

APRIL 2001: WILL RETURN 3 767-300ER'S TO ALITALIA (ALI) AND CEASE LONG-HAUL FLIGHTS. 2 A320-214 (1448, I-BIKC "ZEFIRO;" 1457, I-BIKF "MAESTRALE") (ALI) LEASED.

MAY 2001: 2 A320-214'S (1473; I-BIKF "GRECALE;" 1480, I-BIKG SCIROCCO"), (ALI) LEASED.

JUNE 2001: 1 A320-214 (1489, I-BIKL "LIBECCIO"), (ALI) LEASED.

SEPTEMBER 2001: MD-87 (49390) PAINTED "TEOREMA" SINCE IT IS OPERATING EXCLUSIVELY FOR TOUR OPERATOR, TEOREMA TOURS FOR THE SUMMER SEASON.

NOVEMBER 2001: AUGUSTO ANGIOLETTI, CHAIRMAN, FORMER ALITALIA (ALI) CAPTAIN.

MILAN (MXP) - ILHA DO SAL (767, WEEKLY CHARTER). TO POINT-A-PITRE (767 2/WEEK CHARTER).

DECEMBER 2001: TO ASMARA (767 WEEKLY CHARTER).

JANUARY 2001: PARENT ALITALIA (ALI) DECIDES TO SELL (EUY). INTERESTED PARTIES, INCLUDE ALPI EAGLES, VOLARE (VLE), AND ALBERTO RUSCONI.

MARCH 2002: 2 A330-200'S (PW4168A) (358; 364), EX-AIR AFRIQUE (AFR), (ILF) LEASED.

APRIL 2002: SITA: MILESAZ.

August 2002: Parent, Alitalia (ALI) is expected to sell 80% of (EUY) to Volare (VLR).

September 2002: A330-223 (358, I-EEZA), (ILF) leased.

October 2002: Parent Alitalia (ALI) rejected Volare (VLR) offer to buy Eurofly (EUY) to consider other offers, including management buyout.

1 A320-214 (1852, I-EEZC), (GAX) leased. A320-214 (1480, I-BIKG) returned to (ALI). MD-83 (49390, EI-CMZ) returned to GECAS (GEF).

December 2002: Last 9 months = -EUR 3.8 million.

February 2003: 2 A320-214's (1920, I-EEZD; 1937, I-EEZE), (GAX) leased.

March 2003: EuroFly (EUY) is an Alitalia (ALI) affiliate operating scheduled services and inclusive tour charters to Africa, Europe, and the Middle East.

Parent organization/shareholders: Alitalia (ALI) (100%).

Domestic, Scheduled Destinations: Bari; Catania; Milan; Palermo; & Rome.

International, Scheduled Destinations: Berlin; Copenhagen; Dusseldorf; Frankfurt; Hanover; Lvov; Prague; & Vilnius.

April 2003: A320-214 (1983, I-EEZF), (GEF) leased.

May 2003: A320-214 (2001, I-EEZG) (GAX) leased.

August 2003: Altalia (ALI) sells 80% of Eurofly (EUY) including 13 MD-82's (for low-cost operations) to Banca Profilo. The future of the (EUY) A320-200'S & A330-200's is unclear, but it is possible they will be retained for charter operations.

October 2003: In April 2004, Milan (MXP) - Orlando (charter 2/week).

January 2004: Will add 5 MD-82's from Alitalia (ALI) and return its A320's.

April 2004: 2 orders (June 2005) A319 ACJ Corporate Jets, 48 PAX for Milan (MXP), Rome (FCO) - New York. Will have a Milan - Rome corporate shuttle (MD-80, 60F).

May 2004: 1 order (April 2005) A330-200 (PW4168A), (ILF) 7 year leased.

June 2004: Pisa - Ibiza (MD-80, weekly charter).

4 MD-82's (49212; 49214; 49215; 49218) bought from Alitalia (ALI).

July 2004: Now owned 100% by Banco Profilo Spinnaker fund.

October 2004: 70 employees. (http://www.eurofly.it).

December 2004: In June 2005, Milan (MXP) - New York (JFK) (all business class (C), daily). Bologna - (JFK) (3/week nonstop).

Is basing 2 A320's in Sharm el Sheikh this winter season. 1 A320-214 (1125), ex-Volare (VLR), (GEF) leased.

May 2005: A319-115LR (2440, I-ECJA), delivery & A330-223 (665, I-EEZJ), (ILF) leased.

June 2005: A319-115LR (2440, F-ONAS), leased six months to National Air Services in full Eurofly (EUY) colors.

October 2005: Eurofly (EUY) signed a letter of intent (LOI) for 3 A350-800s for delivery from 2013. The Italian leisure airline also signed up to lease 2 A330-200s powered by (PW4000)s starting in late 2006. Including the (EUY) deal, Airbus (EDS) now has 143 commitments for the A350 and expects to hit 200 by year end.

November 2005: A dedicated premium jet service concept between New York and Milan is slated to take off in February. Branded Milano Manhattan or MiMa Club, the service will use a dedicated A319 CJ with 48 seats operated by Italy's Eurofly (EUY). Travel is limited to MiMa Club members, who can apply to join via the Internet at mimaclub.com. The service will be offered 6x-weekly from (JFK) Terminal 4 to Milan's close-in Linate Airport.

Upon joining MiMa Club, members also have access to a 24-hour personal concierge service. Airplanes will be equipped with personal In-flight Entertainment (IFE) units with audio/video on demand and will offer (SMS) text messaging and e-mail via the on board system.

MiMa Club members also will have access to pre-arranged chauffeur-driven cars upon arrival "or even helicopter or private jet service." Membership applications and initial reservations for flights will begin November 30.

On November 1, MAXJet (MXJ) launched all-business-class (C) service between New York (JFK) and London Stansted using a 767-200ER, while Eos (EOS) began a more upscale service on the same route using a 757.

Volare Airlines (VLR)'s proposed sale has attracted offers from about 10 groups, including Alitalia (ALI), AirOne (ADH), Meridiana (ALS), Eurofly (EUY), and easyJet (EZY), La Stampa reported. Deadline for submission of takeover bids for the Italian carrier was Sunday at noon. (ALI) Chairman & (CEO) Giancarlo Cimoli said that (ALI) might buy (VLR) "if the price is fair." (VLR), which offers domestic and European low-fare flights under the volareweb.com brand, collapsed last year along with Air Europe (EIY), its carrier for intercontinental scheduled and charter flights. The companies were admitted to the so-called Extraordinary Management Procedure on November 30, 2004, and have been restructured by a government-appointed Extraordinary Commissioner.

January 2005: Eurofly (EUY) will inaugurate nonstop service from Rome (FCO) to New York (JFK) on May 12th. (EUY) will operate 3 flights a week, on Friday/Saturday/Sunday, using an A330-200.

February 2006: Lufthansa (DLH) Systems (LHS) announced that Italian charter airline, Eurofly (EUY) opted for Lido RouteManual electronically generated navigation charts. In addition, it will rely on the Lido Operations Center for route planning and the (FMS) Flight Management Navigation Database Service.

March 2006: The Italian government said that it conditionally approved Alitalia (ALI)'s €38 million/$45.9 million takeover of struggling Volare Airlines (VLR), according to press reports. (ALI)'s bid had been challenged in court by domestic competitor Air One (ADH), which will continue to press its claims. The acquisition depends on (ALI)'s keeping (VLR)'s operations going for at least 2 years while maintaining year-end 2005 employment levels. If it fails to abide by these conditions or if Italy's antitrust authority opposes the deal, then (ADH) will be adjudged the winner of the bid, the Industry Ministry said. A partnership between Italian Low-Cost Carrier (LCC) Meridiana (ALS) and former (ALI) subsidiary, Eurofly (EUY) will take (VLR) if (ADH) is unable to proceed. The Ministry is overseeing the so-called extraordinary administration of (VLR), which received permission earlier this month to take a €25 million, 6-month loan from the government. (ALI) won its appeal in a Rome court against a previous ruling in favor of (ADH).

April 2006: Eurofly (EUY) will inaugurate nonstop service from Naples to Moscow's Domodedovo Airport on April 29th. (EUY) will initially fly 1 flight a week on Saturdays using an A320. On June 17th, it will add a 2nd flight, also on Saturdays. (EUY) will inaugurate non-stop service from Catania to Moscow's Domodedovo Airport on May 4th. (EUY) will operate 1 flight a week on Thursdays using an A320. (EUY) is launching spring and summer flights from several Italian cities to New York (JFK) using A330-200s. (EUY) plans 3x-weekly flights from Rome and Naples, and 2x-weekly flights from Palermo and Bologna.

June 2006: Acquired its A319-115LR ACJ (2440, I-ECJA), after its 6 month lease to National Air Services (NTJ). Has put it into service on transatlantic flights between Milan and New York. The airplane is flying for private members company "ClubMima" providing 6x-weekly flights on the route.

July 2006: EuroFly (EUY) operates scheduled jet airplane services and inclusive tour charters to Africa, Europe, and the Middle East.

(IATA): GJ - 700. (ICAO): EEZ (Callsign - SIRIOFLY).

Parent organization/shareholders: The Effe Luxembourg investment fund(100%).

Domestic, Scheduled Destinations: Milan; Naples; & Rome.

International, Scheduled Destinations: Cancun; Colombo; Fuerteventura; Male; Mombasa; & Punta Cana.

September 2006: Eurofly (EUY) will inaugurate nonstop service from Rome (FCO) to Delhi on January 15th and operate 3x-weekly, departing Rome on Mondays, Wednesdays & Thursdays and Delhi on Tuesdays, Thursdays & Fridays, using an A330-200.

December 2006: Meridiana (ALS) is buying a 29.9% stake in Italian leisure carrier Eurofly (EUY). (ALS), which is majority controlled by Prince Karim al-Hussayni, the Aga Khan, is acquiring the shares from Spinneker Luxembourg. (EUY) was established with a 45% shareholding by Alitalia (ALI) in response to the flag carrier's desire to develop the leisure travel market and launched operations in 1990. (ALI) acquired full control in 2000 and sold its stake to Spinneker in 2003. (EUY) was listed on the Milan Stock Exchange in December 2005, with Spinneker keeping a 44% stake. (EUY) operates 1 A319, 8 A320-200s and 3 A330-200s and emerged as launch customer for the A350-800 late last year, when it also ordered an additional 2 A330-200s.

A330-223 (802, I-EEZL), (ILF) leased.

March 2007: Starting June 7th, Rome (FCO) - Heraklion, using A320s.

A330-223 (822, I-EEZM), (ILF) leased, wet-leased to Air Comet (APZ).

January 2008: Iberia (IBE) Maintenance reached a 5-year deal with Italian carriers Eurofly (EUY) and Meridiana (ALS) for maintenance of 20 (CFM56-5B) engines powering 8 A320s and 2 A319s. The work will be conducted at the Iberia (IBE) Maintenance facilities in Madrid.

Eurofly (EUY) has decided not to convert its original order for 3 A350s into the redesigned A350 XWB, preferring not to wait the extra 2 years for delivery, it said in a stock exchange filing cited by "Bloomberg News." It originally had expected delivery in 2013. It currently operates 8 A320s and 4 A330s, and said the contract cancellation will not impact its bottom line negatively.

February 2008: Eurofly (EUY) will launch 2x-weekly, Bologna - Moscow Domodedovo on March 18 with an A320.

March 2008: For discussion of possible merger between Germanwings (RFG), Eurofly (EUY), and TUIFly (HAP)/(HLX) - SEE ATTACHED "(EUY) PLANS-MAR08."

April 2008: Meridiana (ALS) has increased its stake in fellow Italian carrier, Eurofly (EUY) to 46.1%. The airline 1st acquired a 30% stake in (EUY) in late 2006.

September 2008: Code share for the winter season with Livingston (LDI) offering flights to the Dominican Republic, Mexico, Brazil, Cuba, Antigua, Jamaica, St Lucia and Barbados (operated with Livingston (LDI) airplanes) and the Maldives, Sri Lanka, Kenya, Tanzania and the Seychelles (operated with Eurofly (EUY) airplanes). Thanks to 7 brand new A330-200s, based at Milan Malpensa Airport (MXP) (in addition to those based at Rome Fiumicino and Bologna airports), the 2 carriers expect to handle approximately 300,000 passengers over the season.

March 2009: Lufthansa (DLH) Systems said it will provide a package of aeronautical Information Technology (IT) solutions to Meridiana (ALS) under a five-year contract that also covers Eurofly (EUY). Solutions include Lido RouteManual navigation charts, the Lido FMS navigational database and the Lido (OC) flight planning solution.

June 2009: A320-233 (2102, I-EEZP), delivery.

November 2009: Eurofly (EUY) and Meridiana (ALS) will merge into "Meridiana Fly," the Italian carriers confirmed. (ALS) already owns 60.7% of Eurofly (EUY). The new airline will focus on medium- and long-haul services while "peak" summer and winter short-haul and charter operations will be handled by a newly incorporated company called "Meridiana Express" that will be part of Meridiana Fly. Deadline for the integration is January 31. "The business combination is the final stage of a business process which commenced in 2007 [with the aim of achieving] significant commercial synergies and quality improvement of services provided," (ALS) said.

Eurofly (EUY) reported a net loss of -€23.3 million/-$34.3 million in the 2009 1st half, widened from a -€14.9 million deficit in the year-ago period. Operating revenue fell -12.2% year-over-year to €143 million. Combined passengers carried in scheduled and charter services declined -23% year-over-year in the 1st 6 months to 715,959. (EUY) currently operates 9 A320s and 3 A330s. Meridiana (ALS) operates 18 MD-82s and 4 A319s.

February 2010: Meridiana fly (ALS)/(EUY) has been operational since February 28 when Meridiana (ALS) and Eurofly (EUY) merged and currently operate a fleet of 4 A319-100s, 12 A320-200s, 9 MD-82s, 8 MD-83s and 3 A330-200s. Meridiana (ALS) has added an ex-Air Burkina (VBW) A319-100, 3 ex-Blue Wings (BLW) and ex-USA 3000 Airlines (USX) A320-200 and has wet-leased an A319-100 from Finnair (FIN) and an ATR 42-500 from (DAT) – Danish Air Transport. It has added several new routes:
Alghero - Bari: weekly seasonal MD-82 service (already launched);
Alghero - Milan Linate: daily MD-82/83 service (already launched);
Bari - Mykonos: weekly seasonal MD-82 service until September 11;
Bologna Marconi - Lampedusa: weekly seasonal A320-200 service has started on June 12;
Florence - Helsinki: 2x- weekly A319-100 service has started on March 30;
Milan Linate - Bari: daily MD-82/83 service (already launched);
Milan Linate - Brindisi: weekly seasonal MD-82 service until September 12;
Milan Malpensa - Lampedusa: weekly seasonal A320-200 service started on May 22;
Olbia - Bari: 3x-weekly seasonal MD-82/83 service until September 3;
Olbia - Nice: 3x-weekly seasonal ATR 42-500 service between June 11 and September 10 (operated by (DAT));
Olbia - Palermo: 3x- weekly seasonal ATR 42-500 service until September 6 (operated by (DAT));
Olbia - Tortoli: 5x weekly seasonal ATR 42-500 service until September 10 (operated by (DAT));
Rome Fiumicino - Lampedusa: 3x- weekly seasonal MD-82 service until September 11 (operated by ItAli Airlines (FS/Pescara));
Tortoli - Milan Malpensa: 2x-weekly seasonal ATR42-500 service until September 12 (operated by (DAT));
Tortoli - Rome Fiumicino: daily seasonal ATR 42-500 service until September 12 (operated by (DAT);
Tortoli - Verona: 2x- weekly seasonal ATR 42-500 service until September 12 (operated by (DAT);
Venice Marco Polo - Bari: weekly seasonal A319-100 service until September 3;
Verona - Brindisi: weekly seasonal MD-82 service until September 12;

Meridiana Fly (ALS)/(EUY) has however not launched its previously announced Venice Marco Polo - Bucharest Otopeni, Verona - Casablanca and Verona - Skopje routes. It has also not resumed its seasonal route from Palermo to Paris (CDG) this summer season. Meridiana (ALS) has entered into a code share agreement with Iberia (IBE) placing its (ALS) code on (IBE) services between Milan Linate and Madrid.

February 2011: Alitalia (ALI) and Meridiana Fly (ALS)/(EUY) are in talks about a possible partnership, (ALS)/(EUY) said, although it did not confirm reports in "Il Messaggero" that the airlines’ respective management teams are reviewing the details of a possible acquisition. The Italian newspaper reported that (ALI) would be interested in buying (ALS)/(EUY) to prevent Lufthansa (DLH) from stepping in.

“The company's future lies with national and international partnerships and the talks with (ALI) referred to in the press should be considered in that context,” (ALS)/(EUY) said released on its website. “At this stage, no partnership agreement exists and no decision has been taken. As a consequence at this stage, any enterprise value hypothesis appears groundless.”

Meridiana Fly (ALS)/(EUY) was formed last year through the consolidation of Meridiana (ALS) and Eurofly (EUY). It operates a network of domestic, European and intercontinental routes using a fleet of 38 airplanes, comprising 17 MD-82s, 12 A320s, 4 A319s, 3 A330s and 2 ATR 42s, as of September 30, 2010. Last month, it stated it would undertake “a series of actions aimed at strengthening the competitive position of company through a more precise focus on the areas of most interest strategic” and reduce its MD-80 fleet and implement a restructuring of its cost structure and network. It is listed on the Milan Stock Exchange.

(ALS)/(EUY) posted a net loss of -€16.4 million/-$22.2 million in the 1st 9 months of 2010 on revenue of €499.6 million. Passenger boardings totaled 3.7 million.

October 2011: Meridiana Fly (ALS) having already embarked on a round of consolidation through its link-up with leisure carrier Eurofly (EUY), has now struck a deal to merge with leisure operator Air Italy (ITZ) to have a fleet of 35 airplanes.

The combination is aimed at establishing a strong Sardinian operation, and targets a financial turnaround. (ALS)/(EUY) 1st half losses increased to -€69 million/-$93 million, with a combined revenue >€800 million.

January 2012: Meridiana Fly (ALS)/(EUY) has announced further details of its restructuring plan that sees (ALS)(EUY) reducing its MD-80 fleet down to 7 airplanes based in Olbia. (ALS)/(EUY) and Air Italy (ITZ) are still operating as separate entities but are utilizing each other’s airplanes as required and the merger process has been heavily delayed because of disputes between management and trade unions, a variety of other fleet development plans have been announced and then again withdrawn but will obviously be key to the success of the merger given Air Italy (ITZ) operates 737s and 767s and Meridiana Fly (ALS)/(EUY) besides their MD-80s, operates A319s, A320s and A330s.

They have launched joint new routes:
Milan Linate - Bari: 2x-daily A320-200 service has started on October 30;
Verona - Mauritius: weekly 767-300ER service has started on December 19 (operated by Air Italy (ITZ)).

Meridiana Fly (ALS)/(EUY) has given up its routes from Florence to Barcelona on August 27, from Milan Malpensa to Colombo Bandaranaike International on September 13, from Milan Malpensa to Cairo on September 16, from Florence to Madrid on October 10, and from Bologna Marconi to Catania, from Florence to Catania and Olbia, as well as from Verona to Tel Aviv Ben Gurion in late October. It will also terminate its Bologna Marconi - Moscow Domodedovo services as of January 13 and its Rome Fiumicino - Tel Aviv Ben Gurion route on March 22. Meridiana (ALS)/(EUY) had again operated its seasonal summer only services from Tortoli to Milan Malpensa, Rome Fiumicino and Verona between August 8 and October 10 using an ATR 42-300 wet-leased from (DAT) - Danish Air Transport.

Meridiana Fly (ALS)/(EUY) has entered into a unilateral code share agreement offering Air Berlin (BER) services between Italy and Germany under (ALS)/(EUY) flight numbers as well. In addition, it now also code shares with Royal Jordanian (RJA) on (RJA) services from Milan Malpensa and Rome Fiumicino to Amman Queen Alia.

July 2012: Meridiana Fly (ALS)/(EUY) had a net loss of -$42 million for the 2nd quarter. Has had to cut (ASK) capacity by a 3rd during the 1st half.

August 2012: Meridiana fly (ALS)/(EUY) has increased frequencies on its existing domestic routes from Catania Fontanarossa (CTA) to Milan Linate (LIN), Turin Caselle (TRN) and Verona Villafranca (VRN) airports effective July 12 and has launched a new 2x-daily, MD-82 service between Catania and Rome Fiumicino Leonardo da Vinci International (FCO) airports following the suspension of all Windjet (WJT) services on July 11.

September 2012: Meridiana fly (ALS)/(EUY) has announced that it will pull out of its domestic routes from/to Bari Karol Wojtyla International (BRI) from September 16, dropping its flights from Milan Linate (LIN) and Verona Villafranca (VRN) in protest of the marketing subsidies competitor Ryanair (RYR) receives from the airport in Bari for its flights from Milan Orio al Serio (BGY) and Verona.

Meridiana fly (ALS)/(EUY) has quickly reacted to a major dispute between Ryanair (RYR) and Verona Villafranca (VRN) airport by announcing new daily routes from Verona to both London Gatwick (LGW) and Palermo Falcone e Borsellino International (PMO) from October 12. (ALS)/(EUY) will operate a daily A319-100 to Gatwick and daily flights to Palermo with a mix of A320-200s and MD-82s. (RYR) has announced that it will no longer serve Verona from October 12 giving only 2 weeks notice after it could not agree with the airport's new management team that no longer wanted to offer the same terms as previously contractually agreed according to (RYR). Currently, (RYR) operates to Verona from Alghero Fertilia (AHO), Bari Karol Wojtyla International (BRI), Brindisi Casale (BDS), Brussels Charleroi (CRL), Dublin International (DUB), Edinburgh (EDI), London Stansted (STN), Madrid Barajas (MAD), Palermo Falcone e Borsellino International (PMO), Paris Beauvais Tillé (BVA) and Trapani Vincenzo Florio (TPS).

October 2012: Italy and Russian aviation authorities have appointed Italy’s Meridiana Fly (ALS)/(EUY) as a second designated carrier on the Milan - Moscow route.

Alitalia (ALI) has been the only Italian airline operating the Milan - Moscow route. (ALI) performs daily flights between these destinations but starting on October 29, it will add +4 more weekly flights.

Earlier this year, the 2 governments agreed to change their bilateral agreement and add 1 more designated carrier from the each side on the Rome - Moscow and Milan - Moscow routes, on which only Aeroflot (ARO) and (ALI) were allowed to fly.

Russian authorities already have designated Transaero Airline (TRX) as the 2nd Russian carrier.

November 2012: Meridiana Fly (ALS)/(EUY) in the 3rd quarter earned a profit of +$9 million. This was helped by the collapse of Windjet (WJT) which opened up some opportunities in Sicily and Ryanair (RYR) leaving Verona. (ALS)/(EUY) was not too pleased to see Easyjet (EZY) be recently awarded the slot between Milan Linate and Rome Fiumicino.

January 2013: Meridiana Fly (ALS)/(EUY), which had its license downgraded by the Italian civil aviation authority (ENAC) this month, said it will continue normal flight operations. A new provisory license, issued because of (ALS)/(EUY)’s financial difficulties, expires in 1 year.

Meridiana S p A (ALS), which merged with Air Italy (ITZ) in 2011, reacted swiftly to the license downgrade by replacing (CEO) Giuseppe Gentile with controlling stakeholder Aga Khan Fund for Economic Development (AKFED), Aviation Director Roberto Scaramella. It also outlined a new business plan and struck a deal to buy out the 38.71% stake held by Air Italy (ITZ)’s former shareholders, taking its total Meridiana Fly (ALS)/(EUY) ownership to 89.91%.

Meridiana S p A (ALS) has offered former Air Italy (ITZ) shareholder, Marchin Investments €0.506 per share. The 2 other shareholders (Pathfinder and Zain Holding) accepted a slightly higher price of €0.596 per share. The share transfer is set to conclude by February 15. “With regard to the (ENAC) decision to suspend the license and simultaneously assign a provisory license, the company confirms there will be no change in its operations. Further, consultations will be immediately initiated with the air transport authority to collectively plan the re-issuance of a permanent license,” Meridiana Fly (ALS)/(EUY) and its parent company, Meridiana S p A said. Meridiana S p A and (AKFED) will step in, if recapitalization is needed.

3 other Meridiana Fly (ALS)/(EUY) Directors ((CCO) Alessandro Notari, Carlo Rota and Mario Porcaro) also resigned as part of the shake-up. In addition, 4 auditors across the 2 airlines will step down.

Olbia-headquartered, Meridiana Fly (ALS) was created in 2010 following the merger of charter airline, Eurofly (EUY) and scheduled carrier, Meridiana (ALS).

According to its new business plan, Meridiana Fly (ALS) will remain active in all its “strategic areas,” although it will push ahead with significant network and capacity cuts initiated January 7. It is also planning to return some excess airplane to lessors. A staff lay-off plan was agreed to in December.

(ALS)’ losses now exceed one-third of its share capital and late last year a source familiar with the situation said: “Meridiana Fly (ALS)/(EUY) needs to survive until next April. Next summer, either the airline takes off or it will go down.”

Later, Air Italy ((IATA) Code: I9, based at Milan Malpensa (MXP)) and sister carrier Meridiana fly ((IATA) Code: IG, based at Olbia Costa Smeralda (OLB)) (ALS) have both had their full air operator certificates (AOC) revoked by Italian Civil Aviation Authority (ENAC) due to the financial difficulties of the 2 carriers. Both have now been issued temporary air operator certificates (AOC)s instead that will expire in one year. During a turbulent board of Directors meeting following the decison, the carriers have decided to fully merge Air Italy (ITZ) into Meridiana Fly (ALS)/(EUY) from February 15 onwards and to replace (CEO), Giuseppe Gentile by Roberto Scaramella based on a proposal by Meridiana (ALS) Founder and minority investor, Aga Khan. The existing Meridiana (ALS)/(EUY) investors including the Aga Khan Fund for Economic Development will also acquire the 38.71% stake in Meridiana fly (ALS)/(EUY) and Air Italy (ITZ) currently owned by the Air Italy Holding in which Gentile also owns a share.

March 2013: Financially troubled Italian carriers Air Italy (ITZ) and Meridiana Fly (ALS)/(EUY) were expected to have merged on February 15. The airlines had their Air Operator Certificates (AOC)s revoked by the Italian Civil Aviation authorities (ENAC) in mid-January and are flying under temporary arrangements which are due to expire at the end of 2013.

July 2013: Meridiana (ALS)/(EUY) commenced operations on the domestic route from Lampedusa (LMP) to Rome Fiumicino (FCO) on July 13th. (ALS)/(EUY), which already operates services from the Mediterranean island to Verona (2x-weekly), Bologna and Milan Malpensa (both weekly), now offers weekly flights to Rome. The A320-operated service faces competition from Blue Panorama Airlines (BPA)’s 4x-weekly and Alitalia (ALI)’s 2x-weekly frequencies, and is scheduled to terminate on September 14th.

September 2013: Italy’s air navigation services provider (ENAV) has reduced its terminal air navigation charges -25% for the last 4 months of this year, saving airlines an estimated -€20 million/-$26.4 million.

December 2013: Meridiana (ALS)/(EUY) started new flights from Naples (NAP) on December 7th, linking Italy’s 3rd largest municipality (after Rome and Milan) to Kiev Boryspil (KBP). The weekly (Saturday) operation intends to utilize leased-in 737-300 equipment from Air Italy (ITZ) on the 1,650 km sector. There are no competitors on the city-pair and this represents (ALS)/(EUY)’s 1st service to the Ukrainian capital. However, Meridiana (ALS)/(EUY) also intends to start a 2x-weekly operation from Verona to Kiev Boryspil from December 21st.

January 2014: Meridiana (ALS)/(EUY) launched 3x-weekly, London Gatwick - Naples on March 30; in June, it adds +2 more weekly services.

April 2014: Meridiana Fly (ALS)/(EUY) has started services on its 6th domestic route from Cagliari (CAG), linking the Sardinian capital with Milan Malpensa (MXP), initially on a 2x-weekly (Tuesdays and Fridays) basis. The route is clearly highly seasonal, as it takes a ‘break’ after the initial 2x-weekly flights until May 16th, when it re-starts, and gradually builds to 2x-daily (from July 1st), before closing on September 29th. The operation began on April 18th and will be flown by a variety of the airline’s equipment. easyJet (EZY) is currently flying the route with an 8x-weekly service on the 710 km sector.

May 2014: Meridiana ((IATA) Code: IG, based at Olbia) (ALS)/(EUY) has seen the Aga Khan's total shareholding in the company rise from 84.70%, to 96.87%, after one of his 2 companies involved in the airline (Arly Holdings) recently concluded a successful share buyback drive. In a Milan stock-exchange filing, Arly Holdings said 6,641,322 ordinary shares, or 2.28% of the airline's total share capital, had been acquired. With the voluntary offer having expired on May 2, a payment of EUR0.50/USD0.67 per share will be issued on May 9.

The Aga Khan's other company, the Aga Khan Fund for Economic Development (AKFED), already owns 84.70% of Meridiana Spa.

With the conclusion of the deal, Meridiana (ALS)/(EUY) will cease "to be an issuer of publically-traded financial instruments with effect from December 31."

Earlier this year, the Aga Khan said control of (ALS)/(EUY) would grant it greater strategic and operational flexibility and also would also open the door to possible tie-ups with other international carriers.

June 2014: Meridiana (ALS)/(EUY) launched 5 new routes, with a total of 8 airports witnessing new flights from (ALS)/(EUY). The longest of the 5 city pairs was the weekly operation between Cagliari (CAG) and London Gatwick (LGW), at 1,506 km, while the shortest was the 710 km sector between Rome Fiumicino (FCO) and Menorca (MAH). Other flights were Olbia (OLB) to Brussels (BRU), plus (FCU) to Santorini (JTR) and to Heraklion (HER).

February 2016: "Qatar Airways (QTA), Meridiana (ALS)/(EUY) Sign Partnership Agreement" by (ATW) Alan Dron, February 4, 2016.

Qatar Airways (QTA) and the parent of Italian airline, Meridiana (ALS)/(EUY) have signed a memorandum of understanding (MOU) on “a potential partnership project,” (ALS)/(EUY) said on February 4.

Few details were given by Meridiana (ALS)/(EUY), which was issued following several recent inaccurate stories in the Italian media about a link between the 2 carriers. “The 2 parties have agreed upon the pillars of the business proposition, which envisages a reinforcement of (ALS)/(EUY) with the objective of making it a solid player in the very competitive European aviation industry. The 2 parties have signed a memorandum of understanding which outlines the conditions precedent for the partnership."

If those conditions are met, an agreement would conclude in the 1st half of this year, the statement added. De Filippo declined to give further details, notably on whether Qatar Airways (QTA) would take a shareholding in Meridiana (ALS)/(EUY).

(QTA) issued a similarly brief statement. It has been known (QTA) has been looking closely at (ALS)/(EUY) for several months.

The (MOU) has been signed by (QTA) and Alisarda, a holding company that forms part of the portfolio of interests held by the Aga Khan, the leader of the worldwide Ismailia Moslem community. Aga Khan has had a longstanding interest in the economic development of Sardinia.

Alisarda (Meridiana (ALS)/(EUY)’s original name when it was created in 1963) also controls Sardinian airport management company Geasar, operator of Olbia Airport on the Mediterranean island.

Meridiana (ALS)/(EUY) operates a fleet of 9 Boeing 737s (2 737-300s, 3 737-700s and 4 737-800s), 4 767s (3 767-300s and a single 767-200), and 7 MD-82s. It operates under 2 brands, Meridiana Fly (ALS) and Air Italy (EUY), although the latter operates purely as a capacity provider to Meridiana (ALS) and flies in the latter’s livery.

Like many medium-sized European airlines, Meridiana (ALS) has struggled in the face of competition from low-cost carriers (LCC)s in recent years. The Italian government has been helping to foot its wages bill, but told (ALS) last year that it should seek a partner.

March 2016: Meridiana (ALS)/(EUY) is targeting breakeven this year after several years of heavy losses.

The Sardinia-based airline, which was taken private by its owners and de-listed from the Italian stock exchange last year, made an (EBIT) loss of -€43 million/-$48 million in 2015, a considerable improvement on the 2014 deficit of -€145 million.

It is restructuring, optimizing its route network by dropping loss-making routes, increasing frequencies on profitable ones, and is in negotiations with trade unions over shedding staff.

A March 23 deadline to reach agreement on the number of jobs to be lost passed without a settlement being signed. A new deadline of April 11 has now been set.

Meridiana (ALS)/(EUY) has 2 operating units, Meridiana Fly (ALS), with 8 MD-80 series airplanes, while Air Italy (EUY), which it bought in 2011, is the larger unit, with a mix of 12 Boeing 737-300s and 737-800s, plus 4 767-300s and 767-400s. Air Italy (EUY) now functions as a capacity provider for Meridiana Fly (ALS), rather than operating under a separate identity.

Meridiana Fly (ALS)’s operations are heavily seasonal and many of its 1,600 staff, particularly cabin crew (CA), only work for part of the year. However, due to a quirk of Italian labor law, part-time staff can claim salaries year-round. Around 500 cabin crew (CA) are understood to benefit from this arrangement. Meridiana Fly (ALS) has a staff of 1,600 and was initially trying to shed -982 staff. This figure has now been reduced to 514.

Meridiana Fly (ALS) has been trying to persuade staff to transfer to Air Italy (EUY), which has a significantly lower salary structure. If a Memo of Understanding (MOU) with Qatar Airways (QTA) is firmed into a partnership (it is believed that (QTA) would take up to 49% of a new holding company, with the other 51% being held by Alisarda, Meridiana’s current parent (there would also be opportunities for staff to transfer to the rapidly expanding (QTA).

The question of shedding staff is becoming urgent. A looming June 30 change in Italian labor laws means that the current generous redundancy arrangement of four years’ social security payments at 80% of employees’ current salaries will end on that date, to be replaced by just one year of payments.

June 2016: A June 26 deadline concluded negotiations that would allow Qatar Airways (QTA) to take a major stake in Italian carrier Meridiana (ALS)/(EUY).

(QTA) proposed taking a 49% shareholding in (ALS)/(EUY), which has been loss-making since 2008 and kept afloat by financial infusions from its ultimate owner, the Aga Khan Fund for Economic Development. The Aga Khan, the leader of the world’s Ismailia Moslem community, created the airline in 1963 to promote tourism in Sardinia.

(QTA) signed a memorandum of understanding (MOU) with Meridiana (ALS)/(EUY) in February, under which it would take up to 49% shareholding in a strategic partnership and improve the carrier’s financial position.

However, (QTA) said it was only prepared to get involved if (ALS)/(EUY) could cut its workforce, which currently comprises 1,600 employees. It said -527 (mainly cabin crew (CA)) would have to go to bring staff numbers down to (QTA)’s desired level.

Meridiana (ALS)/(EUY) warned staff that if it did not reach an agreement with (QTA) to gain its support, a much larger number of redundancies (—955) would be required to sustain the airline.

Talks between the (ALS)/(EUY) and its unions have been taking place in Rome. On June 21, (QTA) walked away from the negotiating table, citing the unions’ reluctance to reach an agreement. It was encouraged to return by Italian Transport Minister, Graziano Delrio, who is heavily involved in the redundancy talks.

Qatar (QTA) (CEO) Akbar Al Baker added he wanted to grow Meridiana (ALS)/(EUY) as an independent airline, which would retain its brand. He noted (QTA) has nearly 70 weekly frequencies from Doha to Italy (a link-up with (ALS)/(EUY) offers the opportunity to feed passengers into its domestic and international networks.

He also said (ALS)/(EUY) needs refleeting and has offered to help provide new aircraft. ”You don’t expect me to be a substantial shareholder and to fly with 35-year-old MD-80s,” he said. “Qatar Airways (QTA)’s oldest aircraft is 10 years old. Several Airbus A330s and A320s can be transferred to Meridiana (ALS)/(EUY) as (QTA) gets more aircraft.”

An (ALS)/(EUY) spokeswoman said that Sardinia, a popular European holiday destination, represents “a big opportunity, if you serve it with a brand that is known abroad.” Meridiana’s name is well known in Italy, but not internationally. Being able to attach the Qatar Airways (QTA)’s brand to its own, would boost its presence in international markets, she said.

Fleet:
(definitions)

Click below for photos:
EUY-767-300ER - EUROFLY
EUY-A319-115LR
EUY-A320
EUY-A320-200-2014-05
EUY-A321
EUY-A330-223

October 2017:

0 737-4Q8 HGW (CFM56-3) (2221-26279, /92, TC-AFM), (PGS) LSD 2000-01. RTND.

0 767-3Q8ER (747-29383, /99 EI-CRO), (ALI) LSD 1999-04, RTND (ALI).

0 767-31BER (CF6-80C2B6F) (534-26259, /94 EI-CRD), EX-(GUN), OPS FOR (ALI) 1998-11, (ALI) LSD. (542-25179, /94 EI-CRF). RTND (ALI) 2001-10. (ETOPS). 260Y.

0 767-341ER (774-30342, /99 EI-CTW), (GEF) LSD 1999-11. RTND 2002-06, LST (ALI). 259Y.

0 DC-9-51, GROUNDED, (47697; 47754) PARTED OUT.

0 MD-82 (JT8D-217A) (49219, I-DAVF), EX-(ALI) 2004-01. 5 RTND. 164Y.

2 MD-82 (JT8D-217A) (1233-49212, /85 I-DAWW; 1245-49214, I-DAWZ; 1253-49215, /86 I-DAVA; 1274-49218, I-DAVD), BF (ALI) 2004-06. 49212; 49214; 49215; 49217; WFU IN STORAGE 2005-01. 49214 LST (AZD) 2005-02. 49218; TO (BUC) 2005-05. 164Y.

0 MD-83 (JT8D-219) (49631 RTND 2001-04, LSD (NOU) (1784-49637, /90 EI-CMM; 1269-49390, /86 EI-CMZ), (GEF) LSD. 49937 RTND 2001-12, LST (FRX). 49390 RTT (GEF) 2002-10. 165Y.

0 MD-83 (JT8D-219) (968-53199, /92 EI-CNR), EX-(TNS), (GUI) LSD. RTND. 165Y.

0 MD-83 (JT8D-219) (788-49940, /90 EI-CPB), EX-(SWH), (GEH) LSD. RTND 2001-12, LST (FRX). 165Y.

1 +1 ORDER A319-115LR ACJ (CFM56-5B7/P) (2440, I-ECJA, 2005-05), LSD 6 MTHS TO NATIONAL AIR SERVICES (NTJ) AS (F-ONAS). CORPORATE JET. 48 PAX.

3 A320-214 (CFM56-5B4/2) (737, /97 I-EEZH, 2005-01; 749, /97 I-EEZI, 2005-03; 1125, I-EEZK, 2004-12), EX-(VLR), (GEF) LSD. 180Y.

3 A320-214 (CFM56-5B4/P) (1852, /02 I-EEZC, 2002-10; 1920, /02 I-EEZD, 2003-02; 1937, /03 I-EEZE, 2003-02), (GAX) LSD. 180Y.

2 A320-214 (CFM56-5B4/P) (1983, /03 I-EEZF, 2003-04; 2001, /03 I-EEZG, 2003-05), (GEF) LSD. 177Y.

0 A320-214 (CFM56-5B4/P) (1448, /01 I-BIKC "ZEFIRO" ("ZEPHYR"); 1452, /01 I-BIKD "MAESTRALE;" 1473 /01 I-BIKF "GRECALE;" 1480, /01 I-BIKG "SCIROCCO;" 1489, /01 I-BIKG "LIBECCIO"), (ALI) LSD, 1480 RTND 2002-10. ALL RTND (ALI). 180Y.

1 A320-233 (2102, I-EEZP), EX-(N489TA) 2009-06.

5 A330-223 (PW4168A) (358, /00 I-EEZA; 364, /00 I-EEZB; 665, /05 I-EEZJ, 2005-06; 802, I-EEZL, 2006-12; 822, I-EEZM, 2007-03), EX-(AFR), (ILF) 7 YR LSD. 822; WET-LST (APZ) 2007-03. 822 WET-LST (ISA). 26C, 252Y.

0/0 ORDERS (2013) A350-800 (PW4000), CANCELLED 3/3 ORDERS.

Management:
(definitions)

Click below for photos:
EUY-MGMNT

GIUSEPPE BONOMI, CHAIRMAN.

ROBERTO SCARAMELLA, CHIEF EXECUTIVE OFFICER (CEO) PARENT COMPANY OF MERGED AIR ITALY (ITZ), EUROFLY (EUY), AND MERIDIANA (ALS) (2013-01).

GIANNI ROSSI, MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER (CEO).

ANDREA ZANETTO, VP & CHIEF OPERATIONS OFFICER (COO) (zanetto.andrea@alitalia.it), (eurofly.boeing@alitalia.it) (BGYESAZ).

GIULIO OTTAVIANI, CHIEF FINANCIAL OFFICER (CFO).

ARMANDO BRUNINI, VP & CHIEF COMMERCIAL OFFICER (CCO).

DAVIDE PISENTI, CHIEF FLIGHT OPERATIONS & CHIEF PILOT.

ENRICO LOCATELLI, DIRECTOR FINANCE.

CAPTAIN PAOLO POLINI, FLIGHT OPERATIONS MANAGER.

LEO FINZI, QUALITY ASSURANCE (QA) MANAGER.

ARRIGO PALLAVICINI, QUALITY MANAGER.

EMILIO DENTI, LINE MAINTENANCE MANAGER.

GABRIELE SANTORO, MAINTENANCE PLANNING MANAGER (2001-06).

 
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