Founded in 2018, Air Albania began operations as a partnership between THY, MDN Investments and the Albanian state company Albcontrol.
- 49% Turkish Airlines
- 41% MDN Investments (Vlorë businessman Sinan Idrizi and his family)
- 10% Albcontrol
Since its establishment, the airline has continued operations heavily dependent on Turkish Airlines’ operational and financial support.
Financial Situation: Debt Burden Exceeding 50 Million Dollars
Turkish Airlines’ nine-month consolidated report for 2025 stated that Air Albania owes THY more than a total of 50 million dollars.
According to the report data:
- 41 million dollars in short-term trade receivables,
- 12 million dollars in long-term receivables
- were recorded in favour of THY.
Air Albania’s revenues for the same period were approximately 2 million dollars, while its losses amounted to around 3 million dollars. Since 2019, its losses have been too high to be offset within THY’s balance sheet, highlighting the airline’s fragile financial structure.
VIP Aircraft Controversies and Subsidies
The airline had long been at the centre of public debate for subsidising the VIP-configured Airbus A319 aircraft used by Albanian Prime Minister Edi Rama. The opposition demanded the establishment of a parliamentary commission over claims that the aircraft’s operating costs were a burden on the public, but the motion was rejected in parliament.
Transfer of the Airbus A319 to the Albanian Armed Forces
While THY proceeds with the process of selling its shares in Air Albania, it agreed to donate the Airbus A319 aircraft used by the Prime Minister to the Albanian Armed Forces under an agreement signed in Ankara on 20 October.
The 26-year-old aircraft is stated to have a value of 11.9 million euros.
