Details leaked to a national Maltese newspaper show that Air Malta’s restructuring plan, which it said is needed to “to save the airline and hundreds of jobs”, includes plans to cut 40% of KM’s workforce – some 500 jobs.
The plan also requires the Maltese government to provide €25 million to recapitalize KM and the airline has to find €51 million.
Under the Ernst & Young restructuring plan, Air Malta will retain a fleet of 10 aircraft and 800 employees – this will require the job losses of 57 pilots, 53 cabin crew, 21 engineers, 190 ground workers and 190 administrative personnel.