AIR MALTA RESCUE PLANS STILL ONGOING, AS DEADLINE PASSES

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By TESTCustomwebLP TESTCustomwebLP May 16, 2011 08:50

AIR MALTA RESCUE PLANS STILL ONGOING, AS DEADLINE PASSES

The European Commission was tasked to give a verdict on the Maltese government’s rescue plan for its troubled national airline, Air Malta, by 15 May. However yesterday talks between the government and Brussels were reported to be “ongoing” as confirmed by a finance ministry spokesperson and that the ministry had no further comments to make on the plan or the ongoing discussions.

The rescue plan for Air Malta includes a €52 million emergency loan facility that although it has temporarily been approved by the Commission, it needs to be confirmed in the final verdict if it sees the plan as a viable one. The plan is also expected to include an analysis of the number and type of routes the airline should be operating, as well as the size of its fleet. A cost reduction plan will also be required to render Air Malta’s operations acceptable in terms of its size and activities, while at the same time ensuring it remains competitive. The plan will also determine the appropriate staff levels and the employee skills profile needed for Air Malta.

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By TESTCustomwebLP TESTCustomwebLP May 16, 2011 08:50
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