Budget 2024: Government to inject €215 million in capital investment of new national airline

Government will invest €215 million in capital investment towards Malta’s new national airline, which is set to open on 31 March 2024.  

Addressing the nation during his budget speech, finance minister Clyde Caruana once again stressed the importance of Malta having its own national airline, citing its inseparable ties with economic growth. 

Earlier in October, Caruana had announced that Air Malta would officially cease operations on 30 March 2024. 

The new airline will operate eight aircraft and eventually, three of these will be fully owned by the company rather than leased. The airline will operate on 17 routes. 

The new company will re-employ the 390 people currently on Air Malta’s books and the recruitment process will start in December this year. A few weeks ago, government said it would invest €350 million in the new airline. Of these, €300 million will be used to purchase three aircraft, purchase back the Heathrow and Gatwick airport slots from a government company, and the hangar and grounds around it at Gudja airport.