A memorandum of understand has been signed with Alitalia, which will be taking a stake in Air Malta, Tourism Minister Edward Zammit Lewis has announced at a press conference. The press conference is still in progress. Alitalia is 49% owned by the UAE's Etihad Airways, which has been leading the Italian flag-carrier's revival after years of financial losses. The four trade unions that represent the workers at Air Malta were summoned to a meeting with the government at the Auberge de Castille this afternoon and told the news. Times of Malta reported last week that the government would be selling a substantial stake of the national airline to the UAE's Etihad Airways. The prime minister in subsequent comments had said no agreement had been signed yet, which meant that talks were continuing, but he did not deny the Times of Malta story. Informed sources had told Times of Malta that the deal between Air Malta and Alitalia would be rolled out in two phases. A preliminary agreement (MOU) would be signed first, followed by a formal one as soon as unions give their green light to the deal. The agreement is expected to include significant restructuring of Air Malta.
from timesofmalta.com http://ift.tt/1NTd5C5
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