The company currently holds 32.94% stake in the airport. The current offer will take its ownership to more than 48%.
FWAG board members Julian Jager and Gunther Ofner said that good future prospects and exceptional results of Malta Airport have prompted the company to make the offer.
"We are extremely satisfied with the performance of Malta International Airport, and are convinced that this company will continue to show an above-average growth potential in the coming years.
"Our investment in Malta International Airport represents a strategic investment for us," they said.
FWAG has offered a purchase price of €3 per share, even though the structure of the deal is yet to be decided.
On completion, the total value of the transaction is estimated to reach around €63m.
If the final negotiations result in turn positive, the deal is expected to be sealed within the next six months.
Approximately 40% of Malta Airport has been held by Malta Mediterranean Link Consortium since its privatisation in 2002.
FWAG has 57.1% holding in Malta Mediterranean Link Consortium through its subsidiary Vienna International Airport (VIA).
The company also oversees the operational management of the airport through VIA.
Image: Flughafen Wien currently owns nearly 33% stake in Malta International Airport. Photo: courtesy of Vienna Airport.