British investment group 7 Group Plc has announced that it has acquired Italian airline Azzurra Air. Azzurra Air was set up in 1996 by Air Malta and Italian investors. The airline operates three Avro RJ85s and four Avro RJ70s on scheduled services, alongside several Boeing 737-700s and Airbus A320s used for charters. It carries about 1 million passengers annually. The company lost about EUR21 million in 2002, but prospects for 2003 are much improved. 7 Group has not announced its plans for the airline.