Malta’s national airline has almost managed to break even between April and June 2017 for the first time in a decade, the Times of Malta reported.
The Times obtained the details from leaked accounts, since Air Malta has not yet published its audited accounts for the year ended March 2017, nor for the year ended March 2016.
In the first three months of its financial year, the company managed to bring its losses down to €0.4 million, almost breaking even.
Its board was appointed recently following the June election; chairman Maria Micallef was replaced by Charles Mangion. One of the first decisions of the new board was to re-introduce the Frankfurt route and increase the number of aircraft to nine.
In a recent interview with this business portal, Dr Mangion said he would not revive the attempt to find a strategic partner for the airline until it had returned to profitability.