Air Malta Board of Directors approve FY2016/FY2018 business plan

Air Malta Board of Directors approved (Nov-2015) a three-year business plan covering FY2016 to FY2018. The business plan shows that the losses sustained in FY2015 can be turned to break even in FY2017 and return to profits in FY2018. The plan also reflects the strategy to return the airline to a net positive cash flow position. The approved business plan sets out the vision for Air Malta, the implementation activity necessary, and the financial requirements to achieve the plan. They key assumptions of the business plan are:

• The temporary fleet rationalisation geared towards operating eight aircraft and increasing aircraft utilisation;
• Renegotiation of major contracts;
• A revenue strategy based on increasing seat load factors that will compensate for the expected reduction yields, generating a stable revenue stream equivalent to current revenue levels;
• Improved efficiency and productivity. [more - original PR]