Air Malta will be able to stand on its own two feet by March, according to the airline’s chairwoman Maria Micallef.

Announcing a loss of €16.4 million for the financial year ending March 2015, she said the forecast for this year was a loss of €4 million.

However, under a five-year restructuring plan laid down in 2011, Air Malta has until March 2016 to return to the black in return for a State injection of €130 million.

Ms Micallef admitted yesterday this target would not be met.

But pressed to say what would happen after the end of State aid, she said no further subsidies would be necessary.

“According to our business plan, bar any unpredicted circumstances, we will be able to stand on our own financial feet from next March onwards.”

Air Malta, she said, would break even in 2017 and become profitable by 2018.

Asked whether the airline’s plans include a fresh private injection from the partial sale of Air Malta to another airline, Ms Micallef said the business plan did not include the strategic partner option.

However, she insisted that a strategic partner was the way forward for the airline and should be in place as soon as possible.