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Finance Ministry requests changes to initial Air Malta restructuring

9-Mar-2011 3:23 PM

Malta's Finance Ministry requested Ernst & Young make “fundamental changes” to the restructuring plan they have developed to help rescue Air Malta (Times of Malta, 08-Mar-2011). The Air Malta Restructuring Committee has not yet been asked to approve the plan, which could reportedly halve the carrier’s workforce. The Finance Ministry called for “prudence and respect” for the Air Malta restructuring process and said it would not back a final restructuring report unless extensive consultation was made with Air Malta unions and employees. Maltese General Workers’ Union stated it could block the Air Malta restructuring plan if it does not believe a proper employee consultation process has been performed (Malta Independent, 08-Mar-2011).