British low-cost airline carrier EasyJet has moved all of its base maintenance to Malta after signing a final agreement with Lufthansa Technik.

The agreement was signed this morning at Auberge de Castille, in the presence of Prime Minister Joseph Muscat, Malta Enterprise chairman William Wait and other stakeholders.

EasyJet director Ian Davies said the conclusion of the base maintenance agreement meant that all of the airline's 256 carriers will be serviced by facilities in Malta.

"This means that, for the coming five years, up to four aircrafts will be on the island at a point in time to undergo maintenance," Davies said.

It is understood that EasyJet's decision to relocate its base maintenance to Malta was precipitated by the United Kingdom's decision to exit the European Union. But not only.

"We've been using facilities in Malta for the past six years and we are extremely confident in the technical ability and standards provided," Davies said, adding that they also received "value-added products".

The flexibility of the workforce and the reassurance that EasyJet could count on the Maltese services whenever the need arises also played a part in the decision taken.

Lufthana Technik CEO Stephen Drewes welcomed the contract signed, describing it as one of "major importance".

Prime Minister Joseph Muscat, who took the opportunity to talk about Malta's growing economy and low unemployment rates, said that Malta was "beating global competition" in the aviation sector.

"This is what we want to instill in our investors ... The confidence in Malta is not an emotional one but one based on a solid business plan and strategy," he said.

Muscat pledged that the government will continue to work to address the workforce supply shortage: "This is a major challenge and we will work to attract more youths to this line of work."