Early retirement schemes for Air Malta employees being drawn up

Early retirement scheme for Air Malta employees are currently being drawn up, Finance Minister Tonio Fenech told the EU Competition Commissioner Joaquin Almunia during a meeting today.

Mr Fenech told Mr Almunia of the ongoing discussions with the stakeholders, in particular, the trade unions.

He said that the restructuring plan was due to be forwarded to the European Commission in the coming weeks.

The Commission guidelines required that the restructuring plan included the divestment of loss making activities, including the elimination of loss making routes, and this would mean that the number of employees would have to be reduced.

On the state aid investigation into the modification of the boilers at the Delimara power station, the Commissioner informed Mr Fenech of his intention to bring this investigation to a conclusion in the coming weeks.

Another case which was discussed was that related to the planned embellishment works for the Qawra, Bugibba and St Paul’s bay area and the possibility that part of the project would be considered, in particular the proposed aquarium – as benefiting from incompatible state aid.

The Commission has given the green light for this project and works on this tourism zone upgrade – which will include the construction of a public aquarium in Qawra – are expected to commence in the coming weeks.