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gozotoday | FRIDAY • 4 OCTOBER 2024
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NICOLE
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nmeilak@mediatoday.com.mt
One-third of KM Malta Airlines will be privatised
'as soon as possible', says finance minister
AROUND 30-35% of KM Malta
Airlines will be sold to the private
sector, Finance Minister Clyde
Caruana announced, as part of a
condition imposed by the Euro-
pean Commission.
Speaking during an interview
with Herman Grech, Caruana
said wants it to happen "as soon
as possible".
Caruana first hinted at the air-
line's partial privatisation last
year, but officially confirmed on
Thursday that roughly one-third
of the airline's equity would be
sold.
No specific timeline for the sale
has been provided, but the gov-
ernment prefers an aviation-sec-
tor buyer to leverage industry
expertise and scale.
This follows the EU's approval
to fold Air Malta and launch KM
Malta Airlines, after the govern-
ment's failed attempts to secure
state aid for the former airline.
The transition saw the new carri-
er begin operations on March 31.
The minister said the airline's
strong performance in its first
six months, despite running with
only a third of Air Malta's work-
force.
KM Malta Airlines currently
operates eight aircraft, serving 17
destinations.
Finance Minister
Clyde Caruana
confirms partial
sale as part of EU
deal to replace Air
Malta with new
national airline
