The government has set up a new wholly government-owned company which will own Air Malta slots at several airports and lease them to the national airline.

The government said the company is registered under the name Malta Air Travel Limited and has an authorised share capital of €70 million.

“The Government’s objective for the setting up of the new company, which by law requires an air operating certificate, is to own Air Malta slots in various airports. Concurrently, the new government company is undertaking to enter into a lease agreement so that the same slots will continue to be operated by Air Malta at an agreed commercial fee for a long-term period,” the statement said.

“This strategy supports the government’s objective to transform Air Malta into the airline of the Mediterranean.”