Air Malta said today that it has concluded an agreement with the SMS
Group of Companies for the sale of its UK based tour operator subsidiary, Holiday Malta Limited.

"The transaction followed a rigorous process of competitive bidding and remains subject to the necessary regulatory approval and finalisation of this sale is expected shortly," Air Malta said.

"Air Malta is looking forward to work closely with SMS and Holiday Malta to continue to promote the Maltese Islands as a preferred holiday destination that reflects the colourful, uniqueness and diverse characteristics of the islands.

Peter Davies, Chief Executive of Air Malta said: “Air Malta continues to
deliver on its obligations and performance measures set forth in the approved EU Restructuring Plan. The aim of this transaction is two-fold, to divest ourselves from non-core operations and concentrate specifically on the airline operations and to continue to raise funds and contribute ourselves to the restructuring process. This is in-line with the EU Commission’s requirements that for every euro the airline received in assistance in the form of state aid, it has to raise an equal
amount from the airline’s own contribution.”

Air Malta last week also announced it would sell its tour operating company Flyaway tours.