The Aga Khan Fund for Economic Development (AKFED), through its Alisarda unit, has reached a tentative agreement concerning the proposed sale of a minority stake in Meridiana to Qatar Airways (QR, Doha Hamad Int’l).
“The two parties have agreed upon the pillars of the business proposition, which envisages a reinforcement of Meridiana with the objective of making it a solid player in the very competitive European aviation industry,” a statement said.
The [AKFED Geneva] has pumped in over EUR600 million (USD654 million) into Alisarda over the past seven years in a bid to keep the airline afloat. Faced with increased competition from low cost carriers, the airline has undertaken a restructuring programme to help trim overheads while improving overall competitiveness.
Source: ch-aviation.com
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