More than 500 jobs lost at Air Malta

 Air Malta finally released the number of jobs to be lost in their new attempts to recover financially. They will be shedding more than 500 employees shortly. Most of them will leave through an early retirement scheme that will start on August 1st.

Air Malta CEO Peter Davies yesterday revealed the information at a well attended meeting at the New Dolmen hotel.

This is truly a painful restructuring stage, as was also stated by chairman Louis Farrugia, in order to save the airline, and he insisted that the board was doing everything to avoid problems and concerns for all stakeholders in the company.

Air Malta has made a loss of more than €36m up until March 2011 and the aim is now to cut costs and increase revenue by around €30 million per year.

As for now it seems the government has not offered any alternative options for those who wish to continue work.

0 June 25, 2011 By Stephan in News Tags: ,

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