Air Malta: ‘losses have been on a downward trend since 2011’

Air Malta issued a statement this afternoon to reaffirm the financial figures submitted in its annual general meeting after the Nationalist Party said losses increased in the past financial year.

The loss for the respective years, pre-tax, as reported in the audited financial statements in compliance with IFRS accounting standards for Air Malta plc were as follows: FY 2011 - €78.3M; FY 2012 - €40M; FY 2013 - €30.9M and FY 2014 - €16.2M

The operating loss as reported in the audited financial statements were as follows: FY 2011 - €65.8M; FY 2012 - €34M; FY 2013 - €26.1M; FY 2014 - €12.7M

Air Malta’s financial year is from 1st April to 31st March of following year.

“Both the pre-tax loss and the operating loss have been on a downward trend since 2011 and therefore it is untrue that the loss made by Air Malta has increased over the past financial year,” Air Malta said.