Italy's Cargoitalia, controlled by Alis Aerolinee Italiane, has completed a buy-out of Alitalia's cargo operation.

Alis Aerolinee - which is two-thirds owned by Alis Holding and one-third by Intesa SanPaulo - says the freight division will offer connections from Milan Malpensa to New York, Toronto and Abu Dhabi.

"We aim to become the market leader in our country and place ourselves on the top list in Europe, with the investment of Italian human resources and equity," says Alis president Alcide Leali.

Alis Aerolinee says it plans to increase its equity to €25 million from €15 million over the next year. The Leili family co-owns Alis Holding with Ricerca, Selin and Banca Intermobiliare which have 10% each.

Source: Air Transport Intelligence news