Although the ATI report is factual, your footnotes and subject leave much to be desired. The AzzurraAir A320s were not hidden from creditors but simply reclaimed by the lessor and have now found new leases elsewhere.
One cannot but admit that these are difficult times for the industry, even at a turn-point where we are seeing a gradual recovery, yet, I can assure you that the financial woes of Air Malta are of a much lesser magnitude than those I read about on PPRUNE about some UK charter companies.
Obviously, Air Malta Management has a short-term interest in saying that the losses are big to have greater leverage on the employees, while outsiders in direct competition will do anything to discredit a solid airline, which has been in unsubsidised operation for the last 30 years.