Malta International Airport is not aware of any SNC-Lavalin plans to sell its stake but, even if it does, the move will not affect operations, according to a senior MIA official.

Describing press reports that the Canadians might be planning to dispose of their shareholding in MIA as “pure speculation”, the official pointed out that SNC-Lavalin was a small shareholder. Thus, even if such a transaction were to happen, it would have absolutely no effect on the company.

The Government owns 20 per cent of MIA. The Malta Mediterranean Link Consortium Ltd, in which Vienna International Airport is the majority shareholder (53.2 per cent), together with SNC-Lavalin (36.1 per cent) and Bianchi & Company Ltd (10.6 per cent), has a 40 per cent stake.

This will be just an investment transaction that will have no effect on our operations

Public shares traded on the stock exchange make up 29.9 per cent and Vienna International Airport owns 10.1 per cent as VIE.

“Although we are not informed that SNC-Lavalin will be selling its stake, even if this happens, it will mean that a small stake owned by one of our shareholders will change hands. This will be just an investment transaction that will have no effect on our operations,” the MIA official said.

SNC-Lavalin is one of the biggest engineering and construction companies in the world. Quoted on the Canadian stock exchange, it has investment interests in some 100 countries across the five continents.

Speculation on the company’s stake at MIA started after comments by SNC-Lavalin CFO Alain-Pierre Raynaud that the company had identified MIA and a power plant in New York as assets the company could be prepared to let go of.

However, no final decision is known to have been made by SNC-Lavalin so far.