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Press conference: Air Malta returns to profitability Press conference: Air Malta returns to profitability

Air Malta Returns to Profitability After Almost Two Decades

Air Malta has presented its annual report and consolidated financial Statements for year ended March 2018, during which it reported an operating profit of EUR1,2 million, compared to a loss of EUR 10.8 million in 2017.

When non-recurring items are taken into account (including the payment of the early retirement schemes and the gain on the disposal of landing rights), the airline registered a profit of EUR15.7 million.

These results were announced recently during Air Malta’s annual general meeting. During the meeting the airline gave an overview of its financial figures for the year ended in March 2018 and an outlook for the coming year.

During a press briefing announcing the results, Omar Bonello, chief financial officer, Air Malta, attributed these positive performance to better aircraft utilisation, the implementation of a new sales strategy, the investments in IT technology, the signing of the all collective agreements aimed to give a strong base for increased productivity, flexibility and industrial peace stability, and the negotiation of more favourable terms with the airline’s suppliers.