Air Malta (Malta International) chair Charles Mangion has told the Maltese Chamber of Commerce, Enterprise and Industry that investor talks can only happen after the airline undergoes a restructure.

“Only then, when we have a stronger Air Malta, will we be in a position to negotiate and ensure the best possible shareholding framework to guarantee further growth and success for our airline,” he is reported as saying.

Air Malta undertook a cost cutting drive earlier this year following the collapse of partnership talks with Alitalia (AZA, Rome Fiumicino). In June, Malta's incoming tourism minister, Konrad Mizzi, said that his priority was to restructure the national airline over the next twelve months.

A previous restructuring plan in 2012, with the backing of an EU-approved government loan to the tune of EUR130 million, has helped the flag carrier to reduce its losses from EUR78 million that year to EUR400,000 in 1Q17, according to unconfirmed sources reported in the Times of Malta.

Mangion reassured employees that workers' rights would be protected during the restructure. The airline is reintroducing its Frankfurt International route in March 2018, and is looking to increase its fleet size to nine aircraft. Currently, Air Malta operates seven A320-200s and one A319-100 on routes throughout Europe, as well as Tunis and Tel Aviv Ben Gurion.