In 2000, three more Dornier 328 were added to the fleet and the airline expanded its network with flights from Innsbruck to Vienna and Amsterdam to Linz.

The new investors made a €7 million capital infusion as Dietmar Leitgeb exited the airline and resigned as CEO.

A base was opened in Bozen with flights to Cagliari, Olbia, Napoli and Lamezia Terme in cooperation with Alitalia.

By acquiring a sixth Dornier 328 the company was able to continue its network expansion and open routes from Parma to Rome and Olbia.

The airline's capital was increased again in 2003 by €16 million, and in 2004 flights began from Bozen to Munich in cooperation with Lufthansa.

The remaining shares were kept by the South Tyrolean consortium, the Trentino-Alto Adige/Südtirol region and Südtiroler Transportstrukturen AG (STA).

Due to financial problems, Air Alps ceased all flight operations on 13 January 2012 until further notice.

[5] Shortly thereafter, the route was once again cancelled and Air Alps began exclusively operating charter flights.

In June 2013, the airline ceased all flight operations again.,[6] and on 20 August 2013 its owners decided to liquidate the company[7] following an unsuccessful search for new investors.

[9] In November 2013 a group of investors expressed interest in acquiring Air Alps, and on 3 February 2014 the airline resumed flights between Zürich and Bremen using a single aircraft.