In non-technical speak, that simply means Air Malta flights to these destinations will also pretend to be an Air France flight (i.e. it can be booked as an Air France flight, and will have an Air France flight code).
Air France currently only flies between Malta and Toulouse (a proper Air France flight, not a code-share).
Frankly this means more for Air France than it does for Air Malta. Air France can now claim to offer “18 weekly services” between Malta and Paris/Lyon, and members of its frequent flyer scheme can earn points on these Air Malta flights, as if they were flying Air France.
That said, Air Malta customers do also benefit – principally because they can now book a ticket to one of Air France’s long haul destinations from Paris or Lyon as one single booking, rather than having to book an Air Malta flight to France, and then an onward Air France flight.