Air Malta restructuring plan authorised
Wednesday 27 June 2012
On 27 June, following an in-depth investigation opened in January, the European Commission concluded that a €130 million aid granted to the airline Air Malta for its restructuring is in line with EU state aid rules. Thus, this aid is receiving the blessing from the EU executive. In May 2011, Malta notified the Commission a €130 million capital increase to help restructure the company, which has been in difficulty for several years. But the Commission had doubts whether the restructuring plan could ensure the viability of the company – hence the opening of an in-depth investigation. It clearly reassured the Commission, which now concludes that “the restructuring plan, covering a period of five years until November 2015, is based on realistic assumptions and should enable Air Malta to become viable within a reasonable timescale”.