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€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

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