Qatar gets EC go-ahead for Meridiana stake

Qatar Airways’ plans to take a 49% shareholding in Italy’s Meridiana fly have been approved by the EC. The approval by the EC’s competition authorities removes the last obstacle to the Middle East carrier taking a stake in Sardinia-based Meridiana fly. The deal is expected to close in April, a Meridiana fly spokeswoman said. In a statement, the EC said that while the two airlines’ activities overlapped on a number of routes, mainly out of Milan and Rome, it had concluded that “the proposed acquisition would not raise competition concerns, as the companies' activities on the overlapping routes are very limited or these routes have a very low traffic density.” Under the new company structure, Meridiana fly’s parent company, Alisarda, will hold 51% in a newly-formed holding company whose assets will include Meridiana fly, MRO provider Meridiana Maintenance, tour operator Wokita and Air Italy, an airline subsidiary of Meridiana fly that provides capacity to the latter company. Qatar Airways will hold the remaining 49% of the holding company. Meridiana fly has been loss-making for several years, but Qatar Airways’ CEO Akbar Al Baker told this reporter at the Arab Air Carriers’ Organization annual meeting in Casablanca, Morocco, in Nov. 2016 that the Italian carrier was in a better position than many observers believed.<br/>