Julian Jaeger, former CEO of Malta International Airport, and Guenther Ofner have been reappointed to the management board of Vienna Airport plc for an additional five years.

In a statement, the supervisory board said that it unanimously approved the extension of their contracts.

“The management has shown an impressive track record and demonstrated the best team spirit in their collaboration. Net debt was almost halved, productivity improved by a quarter and the share price tripled. Furthermore, the new terminal was not only completed, but the costs were significantly reduced from the predicted level of € 830 million to about € 720 million”, Supervisory Board of Vienna Airport chairman Ewald Kirschner said.

Vienna Airport has held a majority 40 per cent shareholding in MIA through Malta Mediterranean Link since 2002. The rest of the shares are owned by Vienna International Airport alone (10.1 per cent), the Maltese government (20 per cent) and individual shareholders (29.9 per cent).

Vienna Airport said it would continue to view its shareholding in Malta International Airport as an important strategic investment and would take the necessary steps to further contribute to the country’s growth.

“We are very proud to have Malta International Airport as part of our portfolio and continue to view it as a key strategic investment. Outstanding results were posted in 2014 and all indications show that 2015, under the leadership of Alan Borg, will continue to build on this”, Mr Jaeger said.

“We are very pleased with both the development of this investment and the current management structure. Over the past years Malta International Airport has invested some €84 million and plans are in place for further investment which will continue to build on this steady-paced growth”, he said.