PN Demands Air Malta Financials Ahead of Privatisation
PN Demands Transparency: ‘Publish KM Malta’s Financials, Government’
Malta’s opposition party, the Nationalist Party (PN), is calling for the government to publish the financial statements of Malta’s national airline, Air Malta, and its subsidiary, Malta Airport. The demand comes as the government prepares to privatise part of Air Malta, raising questions about the airline’s financial health and the potential impact on the local aviation industry.
Air Malta’s Financial Maze
Air Malta, fully owned by the Maltese government, has been a subject of controversy for years, with critics questioning its financial sustainability and the lack of transparency in its operations. The airline, which operates out of Malta International Airport, has received millions in state aid over the years, but its financial statements remain largely inaccessible to the public.
In a recent statement, PN’s spokesperson for aviation, Jason Azzopardi, accused the government of hiding behind ‘commercial confidentiality’ to avoid disclosing Air Malta’s financials. He argued that the public has a right to know how their tax money is being spent and what the airline’s true financial situation is before any privatisation process begins.
Privatisation in the Spotlight
The government announced plans to privatise 25% of Air Malta’s shares earlier this year, aiming to inject fresh capital and expertise into the ailing airline. However, the PN argues that the government’s refusal to publish the airline’s financial statements casts a shadow over the privatisation process and raises doubts about the government’s commitment to transparency and accountability.
PN’s call for transparency comes as the government is set to publish the results of a feasibility study on the privatisation of Malta Airport, another state-owned asset. The party is calling for the same level of transparency in the airport’s financials, arguing that the public deserves to know how their money is being spent and what the potential impact of privatisation is on the local aviation industry.
The government, however, maintains that publishing Air Malta’s financial statements could harm the airline’s competitive position and compromise commercial negotiations. It has not yet responded to PN’s latest call for transparency.
