The restructuring plan to rescue Air Malta is “at an advanced stage” and the government yesterday embarked on a series of one-to-one meetings with the four unions representing airline employees.

The first meeting was held between Finance Minister Tonio Fenech and a delegation from the General Workers’ Union led by general secretary Tony Zarb.

Mr Zarb was tight-lipped on the outcome of the meeting saying only both sides discussed issues about the future of the national airline. He would not elaborate but said the next step was a meeting for workers’ representatives tomorrow to decide when to call a meeting for the airline’s employees to update them on the latest developments.

Asked about a report compiled by foreign consultants and which had been submitted to the government, Mr Zarb said the study had not yet been made available to the steering committee.

Other meetings will now be held with unions representing pilots, cabin crew and engineers.

“Work on the restructuring plan is still in progress though it has now reached an advanced stage,” a government spokesman said, without giving details as to what issues would be raised with the unions.

A ministry spokesman said media reports that Cabinet discussed Air Malta’s restructuring plan on Monday were “incorrect”.

The national carrier experienced severe losses over the past two years and the prospects for this financial year, which ends in March, are not looking good. Late last year, the European Commission gave the government the go-ahead to pump €52 million in emergency aid into the airline.

Approval was given on condition the airline underwent serious restructuring. The plan to overhaul Air Malta has to be submitted by May and a draft restructuring proposal had to be presented by the end of January. The draft has not seen the light of day and, when asked about this, the ministry insisted the January date had been mentioned as “an internal working target date”.

“The deadlines agreed with the Commission will be met,” the ministry spokesman said.

The plan is being drawn up by two foreign consultants appointed by the government and is expected to be discussed by a steering committee set up last year, which includes government representatives, the unions, management and the opposition.