Meridiana (Olbia) is set to be bought out by the Aga Khan Foundation (Geneva) after his company, Arly Holding, launched a voluntary public buy-back of all ordinary Meridiana SpA shares. Arly currently owns 86.98% of Meridiana's total share capital and is looking to acquire the outstanding 13.02%. In his stock market filing, the Aga Khan says his offer will improve "Meridiana's strategic and operational flexibility - flexibility required to give the airline a new competitive structure." Once under his total control, the Aga Khan says he is open to the possibility of cooperation agreements with "other stakeholders in the aviation sector."