AIR MALTA APPOINTS NICHOLAS XUEREB AS ITS NEW CHIEF FINANCIAL OFFICER

29 July 2011 – Air Malta has announced the appointment of its new Chief Financial Officer (CFO), Nicholas Xuereb. He will be spearheading the airline’s financial department and will be reporting directly to CEO, Peter Davies.

The appointment of Xuereb continues the build up of talent at senior management level which is required to turnaround the airline’s performance and create a sustainable national airline for Malta. The position of CFO is critical to the airline’s success.

Xuereb joins Air Malta with extensive experience in the finance profession, having worked most recently with Trelleborg Sealing Solutions Malta as the Finance Director for over 12 years and before that with PriceWaterhouseCoopers. Currently, Xuereb is also the Chairman of the Malta Lotteries and Gaming Authority.

Peter Davies, CEO at Air Malta, said: “This appointment is another step forward in our plans to turnaround Air Malta. Nick is a finance professional and an energetic young man. He will be responsible for bringing the essential disciplines to the company’s financial management, corporate financing, revenue accounting and supporting the implementation of the restructuring plan over the next 2-3 years. He will be a key part of my senior management team and I am confident that he is going to be a great asset to the airline.”

Commenting on his appointment, Xuereb said: “I am pleased that I have been trusted with this important responsibility by our national airline. I am looking forward to work hard in order to help strengthen Air Malta’s financial situation for the benefit of the airline and the country.”