Welcome Air, an Innsbruck-based regional, acquired a 76% stake in financially troubled Air Alps, which also is based in Innsbruck but operates mainly out of Milan Malpensa and Rome Fiumicino in partnership with Alitalia. The new group will operate eight Do-328s and four business jets and focus on niche markets in Central Europe. Financial details of the transaction were not announced. The combined company will produce some €40 million ($57.1 million) in annual revenue and carry around ...

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