.png)
.png)
Michael Bianchi resigns from MIA director
Director and shareholder in Malta International Airport resigns from board of directors
25 June 2014, 3:14pm
Staff Reporter
Staff Reporter
1 min read
File photo: Michael Bianchi (centre) being awarded the Grand Decoration of Honour for Services to the Republic of Austria by Ambassador to Malta Dr Caroline Gudenus
Malta International Airport has announced the resignation of Michael Bianchi, of the Bianchi Group, citing personal reasons.
As a director of the MIA, Bianchi represented the Bianchi Group, which owns a 10.63% stake in the Malta Mediterranean Link Consortium (MMLC), a shareholder in MIA.
In August 2013, MaltaToday reported that Canadian shareholders SNC Lavalin were planning to pull out of MIA after the company made a surprise disclosure of a possible US$45.6 million loss from a client's attempt to draw on a credit line for the Libya work that it abandoned during the uprising against dictator Muammar Gaddafi.
In November, MIA announced that the firm will be selling its 40% shareholding.
The other partners in the consortium are Vienna International Airport with 53.24%, and the Bianchi Group, with 10.63%.
