AIR MALTA RESTRUCTURING TO LEAD TO JOB LOSSES

Dino D'Amore
By Dino D'Amore July 1, 2011 12:01

AIR MALTA RESTRUCTURING TO LEAD TO JOB LOSSES

Details leaked to a national Maltese newspaper show that Air Malta’s restructuring plan, which it said is needed to “to save the airline and hundreds of jobs”, includes plans to cut 40% of KM’s workforce – some 500 jobs.

The plan also requires the Maltese government to provide €25 million to recapitalize KM and the airline has to find €51 million.

Under the Ernst & Young restructuring plan, Air Malta will retain a fleet of 10 aircraft and 800 employees – this will require the job losses of 57 pilots, 53 cabin crew, 21 engineers, 190 ground workers and 190 administrative personnel.

Dino D'Amore
By Dino D'Amore July 1, 2011 12:01
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