Air Malta got through its hardest year in 2008 after it had to fork out an extra €30 million for fuel and lost around €10 million because of the weak British sterling.

Despite this, Air Malta chief executive officer Joe Cappello said he was confident the worst was over: "In fact, we are glad it is over".

The increase of one dollar in the price of oil cost the airline €500,000 while the drop in the value of the sterling against the euro cost a total of €10 million, Mr Cappello said, during the launch of the 16th edition of the Amitex fair.

The airline was also affected by the decline in tourism from Malta's core markets which were affected by the recession, he added.

Last winter, the airline carried 484,418 passengers, a drop of 26,415 passengers - almost five per cent - when compared to the winter months of 2007.

However, Air Malta will increase its seat capacity by 50,000 seats and introduce an extra 15 flights a week in the summer.

Passengers will also be able to travel to two new destinations, Verona and Stuttgart, or book a seat on one of the four flights a week to Charles de Gaulle airport in Paris.

Air Malta also introduced direct flights to Sofia and Istanbul and reinstated the Moscow flight as well as increasing the number of flights to Zurich, Frankfurt and Munich.

The airline is hoping to boost the travel sector through Amitex, a fair in which 34 local and foreign exhibitors will be advertising their services and travel offers.

The fair will be held at the Malta Fairs and Convention Centre and will be open from 6 to 10 p.m. between next Thursday and Saturday, and from 10 a.m. to 1 p.m. and from 4 p.m. to 9 p.m. on Sunday.

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