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The Maltese government moves to rescue Air Malta with emergency loans and restructuring
November 11, 2010 — Air Malta
Air Malta Airbus A320-214 9H-AEN (msn 2665) LHR (Richard Vandervord), originally uploaded by Airliners Gallery.
Air Malta (Luqa) is facing an uncertain future due to the mounting losses and stiff competition from the growing number of low-cost carriers serving the island. The Maltese government and the unions have agreed to set up a steering committee to review the restructuring plan.
The government is preparing a rescue bill and has also notified the European Commission of its intend to grant the flag carrier an emergency loan. The airline is also expected to undergo an extensive overhaul.
Read the full story for the Times of Malta:
Copyright Photo: Richard Vandervord. Please click on the photo for more background information.
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