Austrian regional airline Air Alps has been bought by a group of Italian investors for a reported L10 billion ($4.53 million) initial payment. Air Alps suffered financial setbacks following its separation as a franchisee from Netherlands carrier, KLM. Its new Italian owners will appoint a new management team to re-establish the Fairchild Dornier 328 turboprop operator as a regional carrier and evaluate entry into the charter market through fleet expansion. Air Alps is set to begin regular services from a new base at Italy's Bolzano airport to Italian and European destinations.

Source: Flight International