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BUSINESS TODAY 4 August 2022

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€1.50 THURSDAY 4 AUGUST 2022 • ISSUE 167 WWW.BUSINESSTODAY.COM.MT PAGE 4 PAGE 2 PAGE 3 Air Malta warns EU tax on aviation fuel could destroy jobs, cripple economy Volume of retail trade down 1.2% in euro area Thynk Software's maritime tech business acquired by RightShip KURT SANSONE & PAUL COCKS AIR MALTA has had no feedback from the government after the airline pre- sented its position against an aviation fuel tax on intra-EU flights, proposed by the European Commission, BusinessTo- day has learned. In its position document on the En- ergy Tax Directive, Air Malta warned taxing aviation fuel for intra-EU flights will negatively impact Malta's economy, "destroy jobs" and put Air Malta at a disadvantage. Aviation fuel will become 90% more expensive to buy by 2033 if the current EU proposals are approved, the airline said on Wednesday. Air Malta called for aviation fuel to remain outside the scope of the Energy Tax Directive, saying that preliminary costings showed that Malta, Cyprus and Iceland will be the worst affected. Dr Nadia Giordimaina, the national airline's general manager for interna- tional affairs, told BusinessToday that the government had confirmed receipt of the document. "We are not informed as to what stance the government will be adopting within the Commission," she said. "However, Government has tradition- ally voted against any form of taxation on aviation fuel." STAR PERFORMER MSE FTSE 100 EUR EXCHANGE RATES Trading Date: 3 August 2022 Number of Trades: 92 Turnover: €1,725,727.67 MSE TRX Index: 7,765.088 (Change: +0.053) Name 3.8% HLF UNSE MT0001891200 - Currency € Last Traded: 3 August, 2022 Price 102.000 Change +2.000 US Dollar 1.0217 British Pound: 0.85227 Japanese Yen: 141.16 Australian Dollar: 1.4814 Swiss Franc: 0.99322 7,267.81 -28.31 7,347.60 / 7,253.56 Value Net variation High / Low -0.33 Cost of aviation fuel will rise by 90% under a proposal included in the Energy Tax Directive as Air Malta warns of negative impact on Malta's economy

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