New owners for Air Alps
Short of cash after a financially strenuous year marked by a strong rise in fuel prices, the Austrian regional AirAlps has relinquished its exclusive code-

Short of cash after a financially strenuous year marked by a strong rise in fuel prices, the Austrian regional AirAlps has relinquished its exclusive code- sharing agreement with KLM and found new investors in Northern Italy.

Under the new ownership structure, Austro-Italian investment concern Alpen Air GmbH holds 86 percent of shares, the province of North Tyrol, Austria,  holds 7 percent and South Tyrol, Italy, controls the remaining 7 percent. Swisswings (formerly Air Engiadina) has dropped its participation in AirAlps.

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