Michael Bianchi resigns from MIA director

Director and shareholder in Malta International Airport resigns from board of directors

25 June 2014, 3:14pm
by Staff Reporter

1 min read

File photo: Michael Bianchi (centre) being awarded the Grand Decoration of Honour for Services to the Republic of Austria by Ambassador to Malta Dr Caroline Gudenus

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Malta International Airport has announced the resignation of Michael Bianchi, of the Bianchi Group, citing personal reasons.

As a director of the MIA, Bianchi represented the Bianchi Group, which owns a 10.63% stake in the Malta Mediterranean Link Consortium (MMLC), a shareholder in MIA.

In August 2013, MaltaToday reported that Canadian shareholders SNC Lavalin were planning to pull out of MIA after the company made a surprise disclosure of a possible US$45.6 million loss from a client's attempt to draw on a credit line for the Libya work that it abandoned during the uprising against dictator Muammar Gaddafi.

In November, MIA announced that the firm will be selling its 40% shareholding.

The other partners in the consortium are Vienna International Airport with 53.24%, and the Bianchi Group, with 10.63%.