EU Approves State Aid For Air Malta

 

EU Approves State Aid For Air Malta

EU Approves State Aid For Air Malta

The European Commission on Wednesday cleared Malta to support the restructuring of its struggling flag carrier Air Malta with EUR€130 million (USD$162.12 million) of state aid.

“The restructuring measures foreseen, which include a significant capacity reduction and the sale of assets, should ensure long-term viability without continued state support, whilst avoiding undue distortions of competition,” the Commission said.

The Commission already approved a loan facility of EUR€52 million for the airline in November 2010.

The airline was set up in 1973 and covers destinations in Europe and North Africa.

(Reuters)



Privacy policyContact us | Advertise with us