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MaltaToday 4 October 2023 MIDWEEK

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WWW.MALTATODAY.COM.MT WEDNESDAY EDITION €1.00 WEDNESDAY • 4 OCTOBER 2023 • ISSUE 862 • PUBLISHED EVERY WEDNESDAY AND SUNDAY EDITORIAL • PAGE 11 LUXURY RESIDENCES in the Heart of Valletta For more informa on contact: Hili Twenty Two, 37, Triq Censu Tabone, St Julian's, STJ 1218 +356 2247 0122 | | Private Courtyard Oasis Superla ve Loca on Concierge Convenience Underground Parking Playmobil to cut 700 jobs worldwide, Malta plant unlikely to be impacted MARIANNA CALLEJA AIR Malta has been "used and abused" by both Nationalist and La- bour governments over the years, Finance Minister Clyde Caruana said on Tuesday. "The airline was turned into a gov- ernment department," he told parlia- ment. Caruana wasted no time in empha- sising that the airline's troubled histo- ry was a result of the political interfer- ence which led to its end. He insisted that if proper actions had been taken in the past, Air Malta might not be facing such dire circumstances today. He highlighted that multiple ad- ministrations had attempted to hide the problems in an effort not to lose public trust. "But as this went on, the airline continued to haemorrhage money." "As long as I serve as this airline's minister, I am committed to ensuring its profitability. I couldn't care less about how ugly I may appear while achieving that," Caruana added. Caruana cited examples, such as contracts signed in 2007/2008 which saddled the company with substantial retirement scheme obligations. He questioned the logic of signing such agreements and criticised the lack of foresight in dealing with them. The finance minister also scruti- nised the Labour government's own financial decisions, pointing out that opening numerous destinations had also led to massive losses. KURT SANSONE THE Playmobil plant in Malta is unlikely to be hit by job cuts announced by the German toymaker Horst Brandstaetter Group on Monday. The company plans to cut 700 jobs worldwide by 2025, 369 of them in Germany amid falls in sales and profit over the past two years. The decision affects 17% of the workforce globally and 16% in Germany. Air Malta demise a result of bad management by all governments - Caruana PAGE 3 PAGE 3 Finance minister Clyde Caruana said Air Malta was "turned into a government department"

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