Air Malta is expected to post a loss for the financial year which ends at the end of this month, having been negatively affected by fluctuating fuel prices and the decline of the Sterling, Finance Minister Tonio Fenech said today.
The airline made a profit of €3.7m last year but lost €8m and €16m respectively in the preceding years.
The minister made his comments in reply to questions when he toured the facilities of SkyGourmet - Air Malta's caterers - in Luqa.
Mr Fenech said that estimates suggested that any profits made over the past year were “wiped out” by the steep drop of the sterling’s exchange rate. This affected the sales of the airline for UK routes.
SkyGourmet produces 4,000 meals a day in winter and 8,000 in summer.