MIAMI – Air Malta (KM) is again sailing troubled waters while facing the negative effects of the pandemic and the aftermath of an extensive shake-up of its board of directors.
Back in October 2020, KM had already voiced financial difficulties and a possible perspective of bankruptcy unless new capitals were made available to the ailing carrier.
In the same period, the Board of Directors was largely renovated and new members nominated by the Maltese Finance Ministry. This was followed by the sudden resignation of its CEO, Capt. Clifford Chetcuti which was, and still is, replaced “ad interim” by the Chairman of the Board, Dr. Charles Mangion.
In addition, the carrier also faced social unrest following the furlough of 64 pilots and a consequent judiciary action which is still ongoing.
Facing important losses, it now needs an ” honest and credible” aid plan sponsored by the EU. Furthermore, without such a plan, the carrier would face the risk of running out of finance, stated the Maltese Ministry of Finance.
About Air Malta
Air Malta is a state-owned airline, created in March 1973 with services initiated in April 1974. First operations included London (LHR), Birmingham (BHX), Manchester (MAN), Rome (FCO), Frankfurt (FRA), Paris (CDG), and Tripoli (TPS).
Currently, KM flies to 21 countries and 33 destinations (pre-COVID-19 data). KM has a fleet of 8 Airbus A320 (4 A320-200 and 4 A320NEO) of which 4 are currently stored.
Air Malta Airbus A320NEO. Photo: Roberto Leiro/Airways