Bail-out for Air Malta

摘要

Air Malta is to receive €130 million to restructure its operations. The European Union (EU) cleared the Maltese government to provide the cash to the flag carrier on June 28. It said the government's restructuring plan "should ensure [Air Malta's] long-term viability". Air Malta has been struggling for some time, with the European Commission authorising a €52 million package for the airline in November 2010. Early in 2011 Air Malta applied for an additional €130m, which sparked a European Commission (EC) investigation into whether such an amount would breach the EU's Rescue and Restructuring Guidelines on state aid. The investigation concluded that it would not, clearing the way for Air Malta to receive the extra money. The EC said, however, thatthe restructuring would lead to "significant capacity reductions and the sale of assets", so it is likely that further change will occur at Air Malta over the coming months.