Air Malta this evening denied reports that a UK investor has offered €50 million to purchase Selmun Palace Hotel as a going concern.

In a statement, the airline said that it has never received any offers in the region of €50 million.

It said it had made many attempts to sell the hotel as a going concern but these efforts were not successful.

"Since the last official attempt to sell the hotel fell through in April, the airline has not received formal offers by prospective investors. There are currently three investors that have expressed informal interest in acquiring Selmun Palace Hotel and the new board of directors of Air Malta is actively working to issue a Request for Proposals (RFP) for prospective bidders."

One of the conditions to be made to the prospective buyers is that the building has to be used as a  hotel.

Air Malta said it was determined to maximise the value and proceeds of the sale as such revenue was critically needed as part of the restructuring plan of the airline.

GWU Secretary General Tony Zarb this morning protested over the dismissal of the hotel's 58 workers and said two potential investors were prepared to buy the hotel and retain the workers.

A meeting between Mr Zarb and the Prime Minister was held in the evening and the two sides agreed to stay in contact.