The Malta Chamber of Commerce, Enterprise and Industry has called for a stop to “futile quibbles about insignificant matters” to ensure the success of Air Malta’s restructuring process.
The Malta Chamber noted “with utmost concern” the European Commission’s decision to demand Cyprus Airways refund €65 million in State aid, after it failed to achieve financial viability – as a result of which the Cypriot national airline has now ceased operations.
The Malta Chamber called on all stakeholders to make a concerted effort to support the long term restructuring plan in full consideration of the bigger picture and the country’s economic development.
It commended decisions taken by the airline’s management to slash operating costs and ensure viability.
“Futile quibbles... can cost the economy, the airline and all its employees dearly,” the Malta Chamber said in a statement.
As the Cypriot experience showed, the European Commission meant business and will not have mercy on any State-aided company that failed to comply with State aid rules.
“Stakeholders should abandon outdated policies and rigidities and think strategically towards rendering the company financially sustainable in the long term,” the Malta Chamber said.
It said the airline was extremely important and a prime strategic asset for Malta as it played a pivotal role in the country’s economic and social development. The airline’s international route network, built by sustained investment over the years, was vital for the country’s economic development.
Its contribution extended beyond tourism, with the Malta Chamber pointing out sectors of industry that were totally reliant on air-freight: pharmaceuticals, microelectronics, electrical components and printed security documentation.
“For these areas in manufacturing, air freight is the most viable, efficient and secure mode of connectivity to the market.
“There exists no feasible alternative and these sectors therefore thrive on guaranteed air transport,” it warned.
The airline provided an equally pivotal role to emerging sectors of the economy such as real-estate, yachting, education, logistics and remote gaming.