Malta will replace its struggling national airline in 2024, Air Maltaby one new public airlineannounced Maltese Prime Minister Robert Abela.
For good reason, the European Commission rejected the Maltese government’s request to inject some 290 million euros in public aid into Air Malta to help it recover financially. Malta has therefore taken the decision to simply close Air Malta and replace it with a new airline next year.
Also, Air Malta will operate its last flight on March 30, 2024, two days before its 50th anniversary, and will be replaced by an airline operating under a new identity, Malta Airlines. The latter will retain Air Malta’s fleet of eight Airbus A320s, but will eliminate more than half of its routes. It will serve 17 destinations compared to 37 currently.
The Maltese government has indicated that it will invest 350 million euros in the new airline, of which 50 million euros will constitute its working capital, hoping to be profitable by 2025. After three years of activity, the Maltese state will have to find a strategic partner or partially privatize Malta Airlines.
“We ensure that Malta continues to have a national airline (…) A stronger, profitable airline that serves this country economically and socially“, declared Prime Minister Robert Abela, considering that the island of Malta “cannot depend on foreign airlines“.