The government of Malta has confirmed plans to shut down the existing Air Malta next year, with a new company KM Malta Airlines PLC taking its place.
The troubled state-owned carrier has been loss making for much of the last 20 years, with nasdaq.com reporting in 2022 that the airline had racked up combined operating losses of €258 million since 2005.
Last year Air Malta outlined plans to downsize its workforce, cut routes and offload its ground handling and cargo operations, and a decision has now been made to close the current Air Malta on 31 March, 2024, before immediately replacing it with a “a new national airline for the Maltese Islands”.
Air Malta to halve workforce
The Maltese government will be the sole shareholder of the new carrier, and it is understood that it will continue ...