Germany’s Aero Telegraph: “Etihad rejects Air Malta”

There’s another piece about Air Malta and that palaver with Etihad in the airline industry press. This time it’s in Germany’s Aero Telegraph. A translation follows.

NO INTEREST
ETIHAD GIVES AIR MALTA A CLEAR REJECTION

Etihad Airways is categorically not interested in the Maltese airline – though there have been rumours for months about a possible interest. Now the Abu Dhabi-based airline has issued a clear and final rejection: it is not interested in Air Malta.

Reports that Etihad will buy a stake in the airline are “categorically false”, Etihad said on Wednesday. The reports have no basis and no substance, Etihad’s statement said – an unusual, clear rejection.

Earlier, the Times of Malta had reported that Etihad would be signing a memorandum of understanding for the purchase of a “substantial stake” in Air Malta. “As soon as the unions have given the green light, the deal will be concluded,” a Malta government source reportedly told the newspaper.

OTHERS ARE SAID TO BE INTERESTED

Air Malta is definitely for sale, but newspaper reports indicate that others are interested, including the Chinese HNA Group. There is, however, no official confirmation from HNA.

Three years ago, Air Malta was virtually bankrupt. The airline had racked up losses 78 million euros and was no longer viable. A programme of cuts reduced the loss for the year 16 million euros. The target for the last fiscal year was a loss of 4 million euros, but it is not yet clear whether this has been achieved.