Finance minister says Air Malta expected to register losses of around €25 million in 2022

Finance Minister Clyde Caruana said Air Malta is expected to register between €25 to €30 million in losses next year.

Speaking to newspaper Ilum, Caruana said the national airline has started to address the “haemorrhaging” resulting in operational losses.

The airline was previously under the remit of former tourism minister Konrad Mizzi, economy minister Silvio Schembri and is now Caruana’s responsibility.

Caruana said structural reforms within the airline have helped it to reduce its losses, attributing the changes to Executive Chairman David Curmi.

The minister said the rationalisation process by Curmi, and the removal of flights “which did not make sense” has helped in the process.

“The problem has not been eliminated completely, because there is still a lot of work to be done,” he said.

He also said government is still carrying out discussions with the European Commission over possible state-aid.

Caruana insisted the scale of losses depends on what happens to the tourism sector as it recovers from the COVID-19 pandemic.

“One of my biggest headaches is this company, because Air Malta’s situation is what it is, and a lot of work still needs to be carried out,” he said.