Government seeks €100 million Air Malta injection

Finance Minister Tonio Fenech yesterday said that the government was seeking an increase of €100 million in Air Malta’s shareholder capital in negotiations with Brussels over the future of the national airline.

“Our country cannot afford not to have its own international airline. But acting responsibly means that we must recognise the radical changes taking place. During the coming days the government must work together with all the unions and stakeholders, including the opposition, in this regard,” Mr Fenech said, insisting the capital injection had to be accompanied by a restructuring programme.

Speaking after delivering his Budget speech, Mr Fenech would not reveal what type of restructuring needed to take place, adding the subject was very delicate as it also dealt with commercially sensitive information.