MaltaMedia.com

The European Commission jhas taken the Air Malta restructuring programme forward when it published the details of the Air Malta case in its Official Journal, thereby officially launching the formal investigation. The Government welcomes this step which is vital part of the Commission’s approval process for State aid in the highly competitive European airlines sector.

All recent airline restructuring plans have gone through the same process (Cyprus Airways in 2006, Alitalia in 2008, Austrian Airlines in 2009, Malev – Hungarian Airlines – in 2010 and Czech Airlines in 2011).

The Ministry is pleased that this important stage has been reached. It means that the approval process of Air Malta’s Restructuring Plan by the Commission is on schedule.

As one can see in the Official Journal today, the European Commission describes the background of the Air Malta case, the aims of the Restructuring Plan, including the main revenue and cost initiatives, as well as the importance of Air Malta to the Maltese population and to the country’s economic well-being.

Moreover, the Commission identifies those areas of the Restructuring Plan that it feels raise EU competition issues, asking any interested parties to submit their views also on these elements. Any party can act as an interested party, submitting its legal arguments framed in the context of EU competition law, accordingly. Any comments have to be submitted within one month, meaning that the deadline for comments is 21 March 2012.

The Ministry of Finance, the Economy and Investment, together with the Permanent Representation of Malta to the European Union, and Air Malta are prepared for this formal investigation phase of the European Commission’s approval process and are confident that this phase will proceed smoothly.