Following the European Commission's decision to ban the Maltese Government from injecting €300 million to save Air Malta, the financially draining carrier will be dissolved by the end of the year.
The stark revelation came from the airline's Chairman David Curmi in an interview with The Times of Malta, who also promised that a new five-year business plan for a new aviation venture was close to being finished. “We are nearing the end of long, difficult and complex discussions with the European Commission, which did not want a photocopy of Air Malta,”
According to Curmi, the European Commission preferred an option similar to what happened with Alitalia being dissolved and replaced by ITA, and he believed the transition would be “seamless”.
Apparently, the new venture would not adopt the 'low-cost-carrier' business plan, unlike its rival Malta Air from Ryanair which already operates from the island.
Air Malta has actively tried to cut costs, from limited distribution channels, reducing affiliate earnings, axing nearly 700 staff members and changing contracts, yet losses at the carrier continue to mount.
Earlier last month, the carrier took delivery of its fifth Airbus A320neo, which bears the registration 9H-NEE. The jet replaces the A320ceo 9H-AEQ which will exit the Air Malta fleet.
The delivery flight from the Airbus plant in Toulouse to Malta International Airport was powered by a blend of Sustainable Aviation Fuel (SAF) and commanded by Capt. Patrick Calleja, and First Officer Mark Attard. This was Capt. Calleja’s last flight with Air Malta after a career spanning more than 31 years of service for Air Malta.
The new 9H-NEE has been delivered with a new modern livery designed in collaboration with Airbus SA. This more cost-effective livery picks up from the colours and elements of the Maltese flag making it instantly recognisable as the national airline of the Maltese Islands.
The new aircraft is equipped with CFM International LEAP-1A engines, accommodating 180 passengers in a two-cabin configuration. As the quietest aircraft of its size, the A320neo will result in 20% lower fuel burn and CO2 emissions along with lower maintenance costs compared to previous-generation Airbus aircraft.