Qatar Airways has reached an agreement with the parent company of troubled Italian airline Meridiana, Alisarde, for the purchase of a 49 per cent stake in the carrier.
The agreement follows months of talks that were believed to have been held back by the airline’s labour unions.
Qatar said the deal was expected to close in early October, subject to certain conditions. The value of the transaction was not disclosed.
“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,” said the airline’s chief executive Akbar Al Baker.
Meridiana is Italy’s second largest carrier and boasts an extensive national and European network from its base in Sardinia.
Its fleet consists of Boeing 737s, 767s and MD-82s.
The announcement is Qatar’s second confirmed deal at the Farnborough Airshow after it said it would acquire a 10 per cent stake in Latin America’s largest airline LATAM Airlines earlier this week.
The airline also revealed its financial results for the first time on July 11.