PRESS RELEASE BY THE MINISTRY FOR THE ECONOMY, ENTERPRISE AND STRATEGIC PROJECTS New investment at Safi Aviation Park secures local jobs and attracts global aviation operator[...]

Minister for the Economy, Enterprise and Strategic Projects Silvio Schembri has announced a major new foreign direct investment by International Aerospace Coatings (IAC) at Safi Aviation Park.

IAC is one of the largest and most established operators in this field internationally and will be investing in our country to create a world-class facility for aircraft design and painting.

Through this milestone agreement, IAC will retain the employees of Aviation Cosmetics in Malta, a strategic commitment that is backed by a long-term lease.

This agreement brings immediate stability for the workers. The transition ensures that all 58 workers previously employed by Malta Aviation Cosmetics, whose outstanding salaries have already been settled in full, will be transferred to the new operator. This guarantees continuity of employment and safeguards their livelihoods.

Addressing the launch, Minister for the Economy, Enterprise and Strategic Projects Silvio Schembri highlighted the Government's proactive approach in safeguarding workers and attracting high-value Foreign Direct Investment, noting that this goes hand in hand with Malta Vision 2050 to build Malta's future on quality, resilience, and strategic growth.

"Our aim was to turn a challenge into an opportunity. We promised to stand by these workers, and today we are delivering on that promise. When faced with the difficulties surrounding the previous operator, our primary focus was on safeguarding the workers. We ensured that all their pending salaries were paid, and today, their jobs are also secure with this new investment. The fact that a major international company like IAC is expanding its operations here, upgrading this facility to world-class standards, and growing the workforce from 58 to 90 new jobs over the next three years shows real trust in our economy. Turned a difficult situation into a new win for the economy," Minister Schembri stated.

Josef Bugeja, General Secretary of the General Workers' Union,​ said that "Following months of intensive work, we are highly satisfied that we have managed to pay the workers' pending wages, while also attracting a company that will guarantee them not just a steady income, but strong careers."

Martin O Connell, Group CEO of International Aerospace Coatings, emphasised that "It has been an intensive few weeks and quite a collective effort to reach this point, but it is truly good to be here. Establishing our presence in Malta is a significant milestone for our global expansion. Malta's strategic location allows us to offer an even more convenient hub, further strengthening our long partnerships with our customers. We are delighted to welcome the existing 58 skilled workers into the IAC family. They are joining an operation that will be busy all year round, ensuring stable employment for the future."

International Aerospace Coatings, founded in 1980, is a global leader in aircraft painting and aviation services with European headquarters in Shannon, Ireland, and US headquarters in Irvine, California. Operating 10 state-of-the-art facilities across the USA and Europe, the group processes over 800 paint events and 800 aviation services projects annually. The company works across all segments of the aviation industry.