Air Malta has registered a profitable year for the first time in 18 years, signalling a positive result stemming from changes made to the national company over the last few years.

“After 18 years, Air Malta registers an operational profit of €1.2 million. This is yet another success story for Malta. Under Konrad Mizzi’s leadership, the airline increased 21 new routes, added new planes to its fleet, and started a fleet replacement programme,” said the head of communications from the Ministry for Tourism.

In Air Malta’s Annual General Meeting today, Tourism Minister Konrad Mizzi cited the increased number of tickets being sold as well as a “better control” of the costs relating to Air Malta leading to the significant change in the airline’s profitability. He said these changes were the “right thing to do”.

Mizzi said the airline had registered a significant profit after 18 years, demonstrating a story of “perseverance, determination and commitment”

Mizzi congratulated all of Air Malta’s employees for their efforts. He also commented on some of the difficulties Air Malta had faced internally with issues relating to pilots, saying they had passed through “difficult negotiations” and had to ask some employees to work more hours, change their roster, and indeed “change their lifestyle”, but that he appreciated the efforts that had been made.

He also hinted at a future where Air Malta would be flying to far-flung destinations like India, Jerusalem, and New York City, saying he wanted to see the Maltese Cross on the runways of major airports across the globe.

Some takeaways from Air Malta’s 2019 AGM:

• Air Malta registered an operating profit of €1.2 million compared to a loss of €10.8 million last year
• Increased revenue by €5.3 million
• Decreased operating costs by €6.7 million
• 168,000 (+11%) more passengers
• 77.6% (+2.8% improvement in) seat load factor

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Johnathan Cilia

Johnathan is an award-winning Maltese journalist interested in social justice, politics, minority issues, music and food. Follow him at @supreofficialmt on Instagram, and send him news, food and music stories at [email protected]