Air Malta chairman to step down in May

Air Malta chairman Louis Farrugia has announced he will step down in May. Writing in The Times, he says his decision has nothing to do with the election and he told the Prime Minister about it in September. Mr Farrugia said that although the airline still faces a daunting task to become viable, significant progress has been made and it is on the right course. The anticipated operating loss for the year to March 13, 2013 will be around €16 million, an improvement of €14 million over results of the previous year. He goes into detail on what the airline has been through, and says that incentivising low cost airlines to compete against routes that Air Malta already covers (without any specific aid) is not the right strategy going forward. Full story in The Times.