Air Malta gets rescue package

November 17: ATW News reports that the European Commission (EC) has approved a €52 million loan from the Maltese government to Air Malta to enable it to work on a restructuring plan.
Air Malta has appointed international consultants Ernst & Young to draw up a restructuring plan “to ensure the long term viability of the airline”. EC Vice President for Competition Joaquin Almunia said the approval is to “avoid a sudden disappearance of the airline, which would lead to serious disturbances in the Maltese economy.”
Air Malta says it categorically denies recent media reports saying that it is planning to dismiss 1,000 employees and points out that speculation on its financial performance for the current financial year are “premature”.