€1.50
THURSDAY 4 APRIL 2019 • ISSUE 2
WWW.BUSINESSTODAY.COM.MT
SAVIOUR BALZAN
THE beleaguered Satabank will
have a new lease of life as reputa-
ble investors have indicated inter-
est in purchasing the bank. In the
coming days, a law will be passed
to allow for the setting of a com-
pany that will take over the due
diligence of dubious accounts and
clear them from banks that are
facing specifi c situations, such as
Satabank.
e administration will remain
within the competent audit com-
pany appointed by the fi nancial
regulator but with a much more
limited scope, and therefore
charging far much less.
Ernst & Young will act as super-
visors until the transition takes
place. is will give breathing
space for the bank to get back on
its feet with new owners.
A senior source close to the Fi-
nance Ministry said that the fees
meted out by Ernst & Young made
sense in the preliminary stages,
but in the long term would have
led to the collapse of Satabank.
PAGE 3
Malta's 10th
President
PAGE 5
New owners
for Satabank
LIAM CARTER
THE government is current-
ly studying the possibility
of building an all-new com-
mercial hanger for Air Mal-
ta's maintenance, repair, and
overhaul operations, Busi-
nessToday is informed.
Sources told this newspaper
that "plans are well underway
to study the initial commis-
sion of a new hangar, which
will see the maintenance op-
eration of Air Malta greatly
reinforced."
Speaking to BusinessToday,
Tourism Minister Konrad
Mizzi lauded the efforts of the
national carrier's engineering
team, while also reiterating
the airline's commitment to-
wards having its own engi-
neering crew.
"We will definitely continue
to use our very own team of
engineers," Mizzi said.
PAGE 5
Air Malta
sets its
sights
on a new
hangar
facility