Air Malta reports results of 1st Quarter FY 2013/14

The MaltaIndependent reports today: "Last week Air Malta announced its first quarter (Apr-Jun 2013) results that confirm steady financial and operational progress. During this period the airline has halved its operating loss, increased revenue, increased passenger figures while maintaining a steady seat load factor over the same period last year.

The national airline has reduced the operating loss for the quarter to €3.3m (Q1 FY2012/13: €6.1m loss, Q1 FY2011/12: €10m loss).

The net result after restructuring costs (largely one-time charges) and interest costs is a loss of €4.9m (Q1 FY2012/13: €10.6m loss, Q1 FY2011/12: €11.5m loss), as anticipated in the Restructuring Plan approved by the European Commission. (See Fig 1)

These figures continue to build on the progress registered during financial year ended in March. The audited financial statements will be presented at the Annual General Meeting and issued to the public in October.

These positive interim first quarter results were driven by constant improvements of the airline's revenue of...read on."