EC to launch investigation procedure on formal State aid for Air Malta

Finance Minister Tonio Fenech today met with EC Vice President Joaquin Almunia to discuss the ongoing restructuring of Air Malta.

The meeting was part of the ongoing discussions on the national airline and the work that is being undertaken by the government and Air Malta’s Board of Directors. 

The European Commission is currently examining the Restructuring Plan submitted by the Maltese Government and is expected to launch the formal State aid investigation procedure once its review of the restructuring plan is concluded.

Last November, the European Commission authorised a loan facility worth €52 million for Air Malta. The Commission approved the measure temporarily, until it can take a position on the restructuring plan.

Fenech described the meeting “as a very useful one” and said that “the airline’s new management was on the right track, although there are many hurdles which still need to be overcome.”