Ahead of the announcement of Air Malta’s financial results for the year ended March 2018 this Saturday, Chairman Charles Mangion said that while improvements had been noted, it would do no good to become complacent.
“These results will show a positive trend and improvement after many years. However, let me be frank; we are still not out of the woods,” he said at the launch of the AMITEX 2019.
“Everyone within the company has to remain focused to steer the airline on a path of sustainable growth and profitability.”
Mr Mangion said that Air Malta was increasing frequencies to Paris Charles De Gaulle, Hamburg, Kiev, London Heathrow, Lyon, Munich, and Tunis, resuming operations to Egypt’s capital, Cairo after an absence of 12 years, and introducing scheduled services to/from Warsaw. “The situation in Libya is also being closely monitored and plans to resume flight operations will be subject to safety and security assessments by competent bodies.”
Additionally, two new Airbus A320NEOs will be joining Air Malta’s fleet, he said. “Air Malta has outlined a five-year fleet plan during which all existing aircraft will be replaced with brand new A320 NEOs.”
“Overall, we are aiming to carry over 1.46 million passengers during the summer season. These increases signify the airline’s continuous commitment to the local tourism industry and the support the airline gives to the islands’ economic growth.”
Mr Mangion said Air Malta was also working hard to improve its customer focus by launching a new pricing structure within the Economy class, giving the customers the ability to build their personal travel experience, and improving the economy class on-board menu choice. Meanwhile, a comprehensive business class service that includes a new gourmet menu will be available on Air Malta flights as from next month.
He added that Air Malta was investing heavily in IT, improving its scheduling, rostering and passenger experience through the airline’s new Integrated Operations Centre that will be fully operational in the coming weeks.
“Travel is a growing industry, but it will remain very price sensitive whilst costs increase annually. It is imperative to be agile, adjust to change, implement innovation and restructure holistically. This involves also a change in mentality within the company. We believe that conventional unit costs with Air Malta have the potential to become revenue units for the company.”
“Moreover, in order to counteract the price competitiveness of the travel ticket we need to enhance our ancillary sales and revenues, improve yield and at the same time strengthen and improve cost management processes.”