The government has incorporated a new company registered under the name Malta Air Travel Limited, with an authorised share capital of €70 million.

Its objective for the setting up of the new company, which by law requires an air operating certificate, is to own Air Malta slots in various airports.

Concurrently, the new company, which is wholly government-owned, is undertaking to enter into a lease agreement so that the same slots will continue to be operated by Air Malta at an agreed commercial fee for a long-term period.

This strategy supports the government’s objective to transform Air Malta into the airline of the Mediterranean, the government said.

Read: Air Malta introduces cheap fares, hives off ground handling to separate company