New Flagship Airline To Take Over For Air Malta

According to Robert Abela, Prime Minister of Malta, Air Malta will be permanently closed in March 2024.

After failing to get emergency funding from the European Commission, the government has announced plans to fund the launch of a new national airline while guaranteeing current employees would keep their jobs under the new regime.

Nasdaq, the world's electronic stock exchange, reports that the airline has been losing money for the better part of the last two decades, losing a total of 258 million euros in operational expenses since 2005. So when Air Malta ceases operations on March 30, 2024, a new national carrier will take up its role.

Clyde Caruana, minister for finance and labour of Malta, stated that throughout the conversations and debates with the European Commission the significance of a national carrier was always emphasised.

"We consider that our national airline is a crucial part of the infrastructure of our islands and the air connectivity that the national airline provides, is inextricably linked to economic growth and the success of our country. The new national airline will build on the many good things of Air Malta, but with a strong emphasis on long-term financial sustainability", the minister commented.

Travellers have until March 30, 2024, to book flights with the present national carrier and pay the standard fare. The new airline is scheduled to launch on March 31, 2024, with an initial fleet size of eight aircraft.

All tickets, both those already purchased and those yet to be bought, will be honoured and good for travel until March 30, 2024. If you have already purchased a ticket with a departure date of 31 March 2024 or later, Air Malta will cancel your reservation and offer a full refund.

Passengers holding Air Malta tickets for travel on or after 31 March 2024 will be reimbursed rather than reassigned to the new airline. From November 1, 2023, customers will be able to submit refund requests. Starting on December 1, 2023, passengers will be able to buy tickets on the new airline.

 

Source: businesstravelnewseurope.com