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13.06.19 3 NEWS HSBC Bank Malta p.l.c. has created a meeting space at Malta's premier export promotion agency, TradeMalta, which will be open to clients looking to dis- cover international opportunities in a changing trade world. e meeting room is located inside TradeMalta's premises at Tigné Point, Sliema. It is hoped the meeting space will serve as an incubator of ideas for businesses seeking out TradeMalta's services. e development is a sign of a growing relationship between HSBC Malta and TradeMalta which have recently renewed a strategic support agreement for another three years. e agreement sees the two parties work on several joint projects in- cluding country specific seminars, train- ing and education programmes, and in- ternational trade missions. "We recognise the role collaboration plays in bringing new ideas in a chang- ing global trade scenario. HSBC is committed to supporting business and export innovation and we are looking forward to continue our strong and es- tablished relationship with TradeMal- ta," Michel Cordina, Executive Director and Head of Business Development of HSBC Malta, said. HSBC is also the strategic sponsor of TradeMalta's signature 'Malta Interna- tional Business Awards' (MIBA) which will be held for the second time in 2019. A brainchild of TradeMalta with the strategic support of HSBC Malta, the initiative enjoys the endorsement of the Ministry for Foreign Affairs and Trade Promotion, the sponsorship of audit firm Grant ornton, the partnership of marketing communications firm BPC International Ltd, and the architectural signing company Big Exhibits. Closing of applications is by 5pm on Friday 28 June 2019, while finalists will be announced on 31 July. Winners will be announced during a ceremony on 22 November. e awards are open to all enterprises with a good internationalisation story to tell, be they exporters of products, providers of services, franchisors or international businesses with head of- fice functions in Malta. Participants can make submissions for one or more award categories. Application on trademalta.org. HSBC fostering Maltese businesses to thrive internationally HSBC's support is enabling TradeMalta to grow Maltese businesses internationally FROM PAGE 1 Mizzi said that Malta Air has some very significant growth po- tential and will be guaranteeing the sustainability of tourism to Malta for the next decade. "We currently have 61 Ryanair routes operating from Malta. But the airline might have one day decided to leave due to op- portunity costs," Mizzi highlight- ed, "But we are now tying them to Malta and assuring tourism sustainability not for one or two years, but for the next ten years." Mizzi said that the multiplier effects emanating from the es- tablishment of Malta Air in Mal- ta will be "enormous". "e growth will be out of this world. From 61 routes we can in- crease up to 120 routes, provid- ing strong access to Malta from different countries," he said. Malta Air will see the six planes and 61 Ryanair routes served from Malta transferred to it. e agreement with the gov- ernment requires that, over the course of three years, the num- ber of planes be increased to 10, with an accompanying increase in routes. Moreover, Malta Air's workers will be based in Malta and pay tax locally, and a head office will be established on the island, em- ploying around 350 people. e agreement also provides that Ryan Air transfer around 50 planes registered elsewhere in Europe to Malta Air, and that the company invest about €1 billion in infrastructure and airplanes in Malta. e minister said that the es- tablishment of Malta Air in Malta is advantageous for the government because it will have "a golden share" in the airline, which translates as a barrier pre- venting the carrier from trans- ferring its plane operations to other countries. "What the government did is guarantee the future of tourism sustainability. What would the consequences be were Ryanair to leave? In the past we used to ask what would happen if ST Microelectronics left. But the biggest problem we would have today is if Ryanair left Malta, be- cause half the tourism industry depended on that airline," Mizzi underlined. He said that, each year, Malta Air would be injecting €50 mil- lion into the country's economy in salaries and services. Mizzi underscored that the is- land's national carrier, Air Mal- ta, would remain important for Malta, and would compliment Malta Air. Moreover, the two airlines will offer a different service, with Air Malta being a low cost carrier flying to several different Euro- pean destinations, and Air Malta being more of a business airline, with a focus not only on Europe, but also the Middle East, Africa and India – destinations which Malta Air won't cater for. "Air Malta is offering a different service. Ryanair and Malta Air are low-cost carriers that serve several different destinations. Air Malta will focus on the main airports for those who want to use them," he said. "It will also focus on Europe, the Middle East, Africa and In- dia, which India isn't focusing on. Next year, Air Malta could start flying to Accra in Ghana, and we also wish to fly to Mum- bai, India." "ese routes require more resources, a business class prod- uct, cargo space and other things which Malta Air won't offer," Mizzi emphasised, "Malta Air is more of a leisure airline, while Air Malta is more of a business airline. But with both together, we can create a regional hub in Malta." Mizzi went on to rebuff possi- ble concerns that the new airline could lead drain engineering tal- ent from Air Malta. He said Malta Air would most- ly be offering employment op- portunities to pilots and crew, including to Maltese pilots living abroad who are interested in re- turning to Malta. "Malta Air will be mostly em- ploying people in cabin crew and pilot roles. ere are many Mal- tese people who want to work in this sector. I receive about six or seven emails a week from Maltese pilots living abroad who want to return to Malta to work with Air Malta," Mizzi noted. "is will be an opportunity for them to work as pilots in Malta, and they can reach the level of captain quicker. e situation is the same when it comes to cab- in crew. I'm sure Malta Air will have mixed human resources, both Maltese and foreigners," he said. Mizzi, however, acknowledged that there was a problem of find- ing people with technical skills in Malta's aviation sector, and said more work needed to be done to up-skill the local human resources. "is is a well-paying sector. I think that if we put in place good apprenticeships programs, young Maltese people can [find jobs in this sector], which offers good salaries," he said. Mizzi says Malta Air will guarantee tourism sustainability for next 10 years Tourism minister Konrad Mizzi

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