For Air Malta to survive it will have to cut its workforce in half, from 890 to 420.
Unprofitable routes will be cut, with the number of already halved last year, from 40 to 20, saving €40million.
“We have to be serious about this plan,” Finance Minister Clyde Caruana said. “It could very well be Air Malta’s last chance.”
From Monday 17th January, a voluntary employee transfer scheme will open as the company plans to hive off ground handling services. This will see some 300 workers moving to other government departments.
Addressing a press conference on the future of the airline, he said he did not hold much hope of financial aid from the European Union which he said would prefer Air Malta to close and another company operate out of Malta.
Apart from downsizing its workforce, Air Malta has a survival package which includes:
Refinancing of aircraft and leases.
Renegotiation of six collective agreements.
Outsourcing of ground-handling and passenger handling.
Photo: Minister Clyde Caruana
