In January 2019 it became known that the former regional airline Welcome Air had been taken over by Aquiline, a company from the Emirates that allegedly operates in the leasing business. A large cargo airline that would even fly with a Boeing 747 was announced. What remains is a bankruptcy, whereby the bankruptcy proceedings could not even be opened due to a lack of cost recovery.

Aquiline Austria GmbH, based in Innsbruck, announced a freight connection from Linz to Rostock in October 2019. This caused astonishment in the industry, because it was doubted that there really was a need. Skeptics should be right because the route was never recorded.

Also, never a single cargo aircraft in Austria was entered in the register operated by Austro Control. Ultimately, the Federal Ministry of Transport pulled the plug, because the operating license was withdrawn for financial reasons. With the "OL", the AOC, which grants Austro Control in Austria, was also gone.

Aquiline Austria GmbH had to file for bankruptcy in mid-2020. According to the Innsbruck Regional Court, however, the existing mass was not even enough to open the proceedings. As a result, the bankruptcy proceedings were rejected and the court ordered the company to be wound up. "The company has been dissolved as a result of the final rejection of an application to open insolvency proceedings for lack of cost-covering assets," reads the decision of the Innsbruck Regional Court, which brought the long history of Welcome Air to an inglorious end.

The former regional airline emerged from Ringler GmbH, which was renamed Welcome Air Luftfahrt GmbH in 2000. For a few years, Dornier 328 operated as a scheduled airline. The Welcome Aviation Group was formed together with Tyrol Air Ambulance and Air Alps. The sale of Air Alps to an East German lawyer brought the carrier no luck, because Air Alps was also deleted from the company register. Welcome Air went to Aquiline and ended in bankruptcy, which was rejected for lack of funds. However, Tyrol Air Ambulance continues to be extremely successful in the air. The TAA is a leading provider in the field of ambulance flights.