MaltaMedia.com

Air Malta has categorically denied reports that a UK investor has offered the national airline €50 million for the Selmun Palace Hotel to purchase the subsidiary company as a going concern. In a statement, the national airline reaffirmed that it has never received any offers in the region of €50 million.

Air Malta stated that over the past years it made several formal attempts to sell the Selmun Palace Hotel as a going concern but these efforts were not successful. Since the last official attempt to sell the hotel fell through in April, the airline has not received formal offers by prospective investors. There are currently three investors that have expressed informal interest in acquiring Selmun Palace Hotel and the new board of directors of Air Malta is actively working to issue a Request for Proposals (RFP) for prospective bidders.

The airline stressed that it is in the best interest of Air Malta that the process is formalised through the issuing of an RFP and that prospective bidders formalise their interest by submitting a proposal to the board of directors. One of the conditions that will be made in the RFP is that prospective buyers will be bound to use the premises as a hotel. Air Malta stated the board of directors of the national airline is determined to maximise the value and proceeds of the sale as such revenue is critically needed and forms an integral part of the restructuring plan of the airline.

With regard to the redundancies of the 58 employees employed at the Selmun Palace Hotel, Air Malta also clarified that it is has followed and will continue to follow the correct procedures in line with the law.