Reports on €30 million operational loss not based on audited accounts, Air Malta says

Air Malta said yesterday that reports that it faces €30 million in operational losses are not based on its audited financial statements.

has reported that, despite restructuring efforts, the national airline’s finances will be hampered by a year in which operational losses will be as much as €30 million.

The newspaper said reduced air travel to Mediterranean destinations like Tunisia, and the price of oil, were contributing to Air Malta’s difficulties.

In a statement, Air Malta noted that “these reports are not based on the audited financial statements and as such could contain some speculative elements.”

“Whilst endorsing the media right to comment, Air Malta would appreciate that in future similar opinion is based on the financial audited statements which will reflect accurately the operative and overall situation of the company as a going concern,” the airline said.

“The next financial statements will again be audited by the same reputable international auditing firm that has audited the company accounts for more than a decade, and it is felt that in the interest of the company any comments ought to be based solely on such audited reports.”

Air Malta confirmed that it is and will continue to be a going concern serving the country for many years to come. “Nevertheless, the company needs to continue its reorganisation programme stimulated by revenue growth driven by carrying more passengers and become more efficient in its operation whilst operating in the highly competitive aviation environment.”

It said that, reducing the company to a political ball “will only harm the company and undermine the national interest which Air Malta has served so well for the last 45 years.”