Air Italy, the second largest airline in Italy after the flag carrier Alitalia, has suspended operations and, following the owners’ decision, will be liquidated after 25 February, 2020.

Air Italy on its website said that flights until February 25 would be operated by other carriers, meanwhile, flights booked after that day will be “re-protected or fully refunded”.

The announcement came after the meeting of the airline’s shareholders Alisarda (51%) and Qatar Airways (49%). Although Qatar provided a statement saying that the company was ready to further invest into Air Italy and “once again to play its part in supporting the growth of the airline”, the holder of the majority stake did not commit.

“Even with the changing competitive environment and the increasingly difficult market conditions (…), Qatar Airways has continually reaffirmed its commitment, as a minority shareholder, to continue investing in the company”, Qatar Airways said in a statement.

Air Italy, which flew passengers to over 34 destinations, operated the fleet of a fleet of Boeing 737s (including grounded Boeing 737 MAX 8) and Airbus A330 aircraft.