Air Italy - Italy Airlines

Air Italy was established by Captain Giuseppe Gentile, who is thus facing yet another challenge in the civil aviation sector. Already the founder and General Manager of Air Europe in the 90s, Captain Gentile decided at the beginning of 2005 to enter the field once again.
Air Italy was the first company to pass the test set by the economic and financial commission of the civil aviation authority after the recent insolvencies in the sector.

On 26 May 2005 Enac (Ente Nazionale Aviazione Civile Ò Italian Civil Aviation Authority) issued the operator licence; the inaugural flight was just three days later from Turin to Budapest.
The initial aim of Air Italy is to offer charter type air carriage services on international and intercontinental routes and then gradually develop regular scheduled flights. Operating reliability and careful cost management have been the guiding principles for Air Italy from the start.

The same trump cards as for Air Europe, which had built up its success on high standards of quality, punctuality and safety/security. The first airplane of the Air Italy fleet was acquired on 25 May 2005. Air Italy made its first take-offs from the operating bases of Milan Malpensa, Verona and Rome, but ever since summer 2005 its "empennage" or tailplane can be seen in the main Italian and international airports.

The company has closed its financial year 2006 (corresponding to 10 months only) with a turnover exceeding 51 million Euro, over 400 thousand passengers and with a credit balance.
At the end of 2006 a long season of investments opened up for Air Italy, with the fund managed by Synergo (the Sinergia fund with entrepreneurs) buying 40% of its share capital.

On June 5, 2008 the Shareholders• Meeting of Air Italy adopted the balance sheet as of October 31, 2007.
This is the first consolidated balance sheet of Gruppo Air Italy, which is formed by three airlines and namely Air Italy, Air Italy Egypt, and Air Italy Polska.

The financial year as of October 31, 2007 of Gruppo Air Italy closed with a profit before taxes exceeding 1.3 million Euro, corresponding to a net income of 155,440 Euro.
Total proceeds exceed 113.7 million Euro (113.739.251), with a 109% increase as against the previous year.

At the end of the financial year the Gruppo Air Italy counted about 400 employees - 320 of whom in the Italian airline company only Ò with staff growth in the operating sector mainly and strengthening of staff processes.