Air Malta (KM) has reported a slightly reduced operating loss of €30 million ($37 million) for its year ended Mar. 31, improved over a €34 million loss for the previous year. The airline said that two factors impacted its performance and that its operating loss excluding these would have been €21 million. The first was a 20% reduction in capacity (10% in 2011 and a further 10% in 2012) required by the European Commission for the airline to receive state aid from the ...

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