Tuesday, August 30, 2016

Medavia's ownership comes under EC scrutiny

The European Commission (EC) has launched an investigation into Medavia to determine whether the Malta-based carrier's ownership and shareholding conforms to bloc regulations.

The Times of Malta says the EC has information which shows Medavia is now owned by the Libyan Foreign Investment Co. (LAFICO). In addition, Brussels also has concerns over the fact that of the airline's board, six are Libyans while only one is Maltese and therefore a European national.

EC laws cap foreign-ownership in E.U.-registered carriers at 49% while effective control of said airlines must rest in the hands of EU nationals.

Medavia did not respond to ch-aviation's request for comment. (Source: ch-aviation.com, 29-Aug-2016)