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IATA partner completes drone test flight programme
FARNBOROUGH, UK: July 17, 2018. Drone manufacturer...

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Hactl becomes first to complete IATA SFOC
HONG KONG: July 17, 2018. Hong Kong Air Cargo Term...

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Freightos and Lufthansa launch rate platform
LONDON: July 17, 2018. Lufthansa Cargo and Freight...

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Antonov building on 2017 growth
LONDON: July 17, 2018. Having recorded an 81 perce...

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Delta and Korean Air begin trans-Pacific cargo collaboration
ATLANTA: July 17, 2018. Delta Air Lines Cargo and ...

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Southwest begins international cargo service to Mexico
HOUSTON, TX: July 16, 2018. Southwest Airlines Car...

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Volga-Dnepr to order 34 new widebody freighters
FARNBOROUGH, UK: July 17, 2018. Volga-Dnepr Group ...

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APL Logistics joins Blockchain in Transport Alliance
SINGAPORE, July 16, 2018. APL Logistics has joined...

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IoT platform to monitor pharma shipments in flight
FARNBOROUGH, UK: July 16, 2018. AirBridgeCargo Air...

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IATA partner completes drone test flight programme
Hactl becomes first to complete IATA SFOC
Freightos and Lufthansa launch rate platform
Antonov building on 2017 growth
Delta and Korean Air begin trans-Pacific cargo collaboration...
Southwest begins international cargo service to Mexico
Volga-Dnepr to order 34 new widebody freighters ...
APL Logistics joins Blockchain in Transport Alliance
IoT platform to monitor pharma shipments in flight...

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ROME: April 27, 2016. Alitalia is to conduct due diligence with a view to purchasing a 49 percent stake in Air Malta following the signing of an MoU with the airline and the Maltese government.

In June 2012 the European Commission approved a restructuring plan for the airline with the aim of turning a €78 million loss in 2011 into a breakeven by 2015.

Last year Air Malta lost €16.4 million on revenue of €218.2 million - down from €234.2 million in 2014 - due to what it says were EU-imposed sanctions on Russia and the termination of flights to Libya.

Air-Malta-VallettaOnce the due diligence is complete the Boards of Alitalia and Air Malta will make a decision on whether to proceed with an offer, according to a statement.

Alitalia’s CEO Cramer Ball commented: “There are strong cultural and commercial bonds between Italy and Malta, and this MOU is a first and important step, but we will only make a decision once we have completed an exhaustive examination of a possible deal. We will need to establish unequivocally that a deal with Air Malta (picture: IAC Aero) will not undermine the progress of our three year turnaround programme, or prejudice our financial position. Until then, it’s business as usual.

“We are on track to become a profitable entity by 2017 and we need to look and plan for the future, which is why we have decided to look closely to see whether Air Malta can fit into our strategic growth, particularly how our networks can complement each other in areas such as southern Italy. The future of the commercial aviation industry has to be one of consolidation, and for us to prosper we must examine opportunities where we believe we can offer a wider reach for our customers,” he noted.

Malta minister of Tourism Zammit Lewis said his government would now cease discussions with other airlines, adding: “This is one step of the process and there is still a long way to go.”

Earlier this month Alitalia announced it would begin non-stop services between Rome and Beijing in July following new service to Santiago, Chile in May and Mexico City in June.

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