Air Malta will be shut down in March next year according to Robert Abela, the prime minister of the island.
After failing to get a much needed cash injection from the European
Commission, the government has committed an investment for the
establishment of a
new national airline that will maintain the same number of staff as it
has today.
According to Nasdaq, the global electronic marketplace for buying and
selling securities, the airline has made losses for nearly all of the
past 20 years, with combined operating
losses of 258 million euros ($295 million) since 2005.
Air Malta will stop operating on March 30, 2024, but will be immediately replaced with a new flagship carrier the following day.
Prime minister Robert Abela told a news conference: “The plane with the
colours of Malta, of our country’s national airline, was, still is and
will continue to fly.”
Malta’s minister for finance and work, Clyde Caruana said: “During our discussions and negotiations with the European Commission I always insisted on the importance of our country having a national airline.
“We consider that our national airline is a crucial part of the infrastructure of our islands and the air connectivity that the national airline provides, is inextricably linked to economic growth and the success of our country. The new national airline will build on the many good things of Air Malta, but with a strong emphasis on long-term financial sustainability”.
Key points to note for the transition
- The current national airline will continue to fly until 30th March 2024 and passengers can purchase airline tickets in the normal way.
- The new carrier is expected to start operations on the 31st of March 2024, with a fleet of eight planes.
- All existing and new tickets still to be purchased for travel up to 30 March 2024 will continue to be fully valid and honoured for travel.
- All bookings for flights on Air Malta for travel on or after 31 March 2024 will be cancelled and Air Malta will refund customers the full cost (including taxes) of any tickets already issued with travel dates on or after 31 March 2024.
- Those with tickets for Air Malta tickets on or after 31 March 2024 will not be transferred to the new airline but will be refunded. Customers can apply for refunds from 1 November 2023.
- Tickets for the new airline can be purchased from 1 December, 2023.