Government had immediately stepped in to find a solution for the workers whose jobs were at stake.

Positive news for Malta and its economy as the signing of a significant agreement that will not only safeguard existing jobs at a company facing financial difficulties, but also create new, high-quality employment opportunities, was announced today by Economy Minister Silvio Schembri.

The announcement was made at Safi Aviation Park by Minister for the Economy Silvio Schembri. He confirmed that, following government intervention, the major American company International Aerospace Coating (IAC) will assume full operational control of Aviation Cosmetics, which had encountered serious financial challenges and, in recent months, had struggled to pay its employees on time.

As the news unfolded, the government had immediately stepped in to find a solution for the workers whose jobs were at stake.

IAC specialises in aircraft painting and is regarded as one of the largest operators globally. The company runs around 90 facilities across the United States and Europe, employs approximately 1,200 people, and completes an average of 700 projects annually.

This investment is being viewed as a strategic step in strengthening Malta’s position within the aviation industry.

As part of the agreement, all existing employees at Aviation Cosmetics will be retained, offering reassurance after a difficult start to the year. Government support, alongside intervention by the General Workers’ Union’s Maritime and Aviation section, played a key role in protecting workers’ rights.

In addition, the workforce is expected to grow from 58 to around 90 employees.

During the signing, Minister Schembri emphasised that this moment reflects the government’s commitment to ensuring that workers are not left behind. He noted that the investment demonstrates confidence in Malta and has the potential to attract new airlines, generate further economic activity, and improve job opportunities.

Schembri stated that he had made a clear promise to workers to ensure wages were paid and to secure new investment for long-term stability, commitments he affirmed have now been fulfilled. Meanwhile, IAC Chief Executive Officer Martin O’Connell described the move as a significant milestone for the company as it expands into Malta. He highlighted Malta’s strategic geographical location as a key factor in the decision, noting that it aligns well with customer needs and future growth plans.