June 27, 2012
The European Commission on Wednesday cleared Malta to support the restructuring of its struggling flag carrier Air Malta with EUR€130 million (USD$162.12 million) of state aid.
"The restructuring measures foreseen, which include a significant capacity reduction and the sale of assets, should ensure long-term viability without continued state support, whilst avoiding undue distortions of competition," the Commission said.
The Commission already approved a loan facility of EUR€52 million for the airline in November 2010.
The airline was set up in 1973 and covers destinations in Europe and North Africa.
