Air Malta 'moving ahead' on sale of Flyaway Tours, Selmun Palace
Air Malta said today that it has successfully concluded the sale of its UK based tour
operator subsidiary, Holiday Malta Limited to the SMS Group of Companies. The transaction, which had already been announced, was finalised following the approval received from regulatory authorities.
The airline said it is also on track for the sale of its package holiday division, Flyaway Tours. It has now chosen a preferred bidder with which it is starting discussions.
Other transactions are moving ahead including the sale of Selmun Palace Hotel where the re-appraisal of the short-listed companies interested in this sale is expected at the end of this month."
The airline said it is continuing with its wide-ranging restructuring process and
meeting its obligations as part of the EU approved restructuring plan.
"In all sale transactions we have followed a robust and rigorous process of competitive bidding, to ensure the highest levels of corporate governance whilst maximising revenue for the airline", commented Peter Davies,
Chief Executive.
"Air Malta's multi-faceted restructuring exercise is progressing well with several major projects being concluded and giving results. We are currently finalising our second quarter figures (July-September) which will be announced in the coming days and through which the public can continue monitoring the progress the airline is achieving."
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13 Comments
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Amanda Scott
Oct 18th 2012, 16:23
In my views... selling fly away tours and investing them in the airline instead is a great idea. Why keep FLy Away tours when there are services lwhere you can book your own hotel, flight and plan your trip in few seconds! .. Good luck with the sale
GL Calleja
Oct 18th 2012, 17:11
I agree with the sale of Fly away tours and the sale of the Selmun Hotel but I must protest the sale of the Majestic Selmun palace which belongs to the Maltese people. The Government can appropriate and take over this Palace in the name of the people of Malta. After all it did not stop any Government from requisitioning private property before. The Government already owns this Palace outright.
GL Calleja
Oct 18th 2012, 15:38
What an insult to us Maltese CWIEC. The Selmun Palace should never have been a negotiated item to start with. It should belong to the Maltese people and not Air Malta, which is a property of the Maltese Government..This Majestic Palace is a part of our history and should never have been a saleable item. Sell the Hotel if you will, but give the Selmun Palace back to the people Tonio Fenech. Sad.
Charles J. Buttigieg
Oct 18th 2012, 13:51
Was Selmun Palace Hotel ever evaluated to be used as a Rehabilitation Centre instead of St Philp?
Peter Murray
Oct 18th 2012, 14:48
No as nobody wants to but an unsed hospital whereas an used hotel is far more valuable and saleable.Its all about the money!
GL Calleja
Oct 18th 2012, 17:20
The government does not give a hoot nanny about the sale of the Selmun Palace Hotel as that sale is run by the one and only Mr Peter Davies, CEO of Air Malta even though all these assets belong to Air Malta and Air Malta belongs to the Government. That is why Tonio Fenech hired an outsider instead of hiring a Maltese CUC. I hope that Mr Tonio Fenech has enough Maltese in him not sell the Palace.
Joseph Brincat
Oct 18th 2012, 13:32
The public can continue monitoring the progress the airline is achieving."
yea yea >> selling everything !!
GL Calleja
Oct 18th 2012, 15:28
The public is not monitoring any of the progress the airline is achieving. We have to believe what Mr Peter Davies tells us and as yet he did not say anything how that Milan delay incident was solved except we know it was ironed out during the Air Malta and ALPA negotiations. Transparency Mr Louis Farrugia?
Peter Murray
Oct 18th 2012, 13:27
lets hope the Selmun Palace Hotel deal is concluded ASAP as the Palace itself is going to rack and ruin as no one is asuming responsibility(now where have I heard that before? ) to maintain and care for it and part of the deal conditions attached to purchasing this hotel concerns such maintenance of the Palace
Paul Cassar
Oct 18th 2012, 13:23
AIR MALTA:
subsidiaries practically all sold.....................planes no longer owned but hired................workforce reduced drastically............................lucrative routes 'given' to competitors.................etc,etc
BUT IS THIS THE INNOVATIVE WAY THAT FOREIGN GURUS, WITH SEVERAL THOUSANDS pushed INTO THEIR POCKETS ARE TRYING TO SOLVE PROBLEMS.....................gahan style
GL Calleja
Oct 18th 2012, 15:22
Don't forget..Tonio Fenech called US Maltese a bunch of CWIEC. I wonder what else will be offered for sale to save money? Maybe a pilot or two?
Paul Cassar
Oct 18th 2012, 17:25
dear GL thank you for reminding me.....................plane and pilots have already been hired en bloc to another airline..................miserable and shameful.
C Cassar
Oct 18th 2012, 13:12
How about a new and up to date website? Why no talk of that as it's the most important interface to any airlines customers?
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