Air Malta registers profit, but ‘not out of the woods yet’
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Malta's national airline was not “out of the woods yet” despite registering a slight profit for the first time in years, CEO Charles Mangion said on Saturday. Air Malta registered a profit of €1.2 million, fuelled by an increase in revenue of over €7Air Malta registers profit, but ‘not out of the woods yet’
Malta's national airline was not “out of the woods yet” despite registering a slight profit for the first time in years, CEO Charles Mangion said on Saturday. Air Malta registered a profit of €1.2 million, fuelled by an increase in revenue of over €7 million generated by an increase in passenger traffic of around 11 per cent and decreasing fuel costs, a news conference was told. The airline had registered a loss of €10.8 million in 2017. “In spite of these positive results, we cannot rest on our laurels. A lot more needs to be done to get the company out of the woods and on firm sustainable grounds,” Dr Mangion said. He said the airline needed to continue to adapt to change, adding other airlines and low-fare carriers will continue to pose challenges. Tourism Minister Konrad Mizzi hailed the turnaround, insisting that the airline had better operational control and was registering success in ticket sales. The airline is now in a position to change its fleet and will receive two new aircraft in the coming months, the minister said, adding there were plans to also open a pilot academy in the future. Read more