Issue link: https://maltatoday.uberflip.com/i/1215405
27.02.2020 4 NEWS AIR Malta and Qatar Airways are pleased to announce that they signed a comprehensive codeshare agreement. e Agreement reinforces Air Malta's drive to expand its network and extend its reach. It also shows Qatar Airways' long-term commitment to Maltese pas- sengers and to boosting tourism to the Islands. Sales will start from today with the first codeshare flights to operate from 9 March. e codeshare agreement in- creases Malta's connectivity with Af- rica, the Middle East, Australia and Asia by enabling Air Malta's passengers to travel on Qatar Airways' flights be- tween Malta, Doha and onward to more than 60 destinations. Air Malta will place its code and flight numbers on several of these Qa- tar flights thereby allowing the Maltese Airline to participate in these markets not only to and from Malta but also connecting to and from other destina- tions that it serves. Qatar Airways' passengers will also benefit from greater access to Malta and to Air Malta's extensive Mediterra- nean network. Codeshare destinations include Cagliari, Palermo and Catania. Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker, said: "When we launched services to Malta in June 2019, I stated this was just the be- ginning of our long-term commitment to boosting trade and tourism between our two countries. is agreement with Air Malta will provide significant ben- efits to both airlines and thousands of passengers, expanding both of our net- works and setting the foundation to fur- ther enhance cooperation in other fields in the future." Air Malta Chief Executive, Captain Cliff Chetcuti, said: "is agreement is yet another milestone for Air Malta in its growth strategy and widening of its codesharing network. It was a natural step for us after Qatar Airways launched direct scheduled services to our Islands and the successful cooperation on pi- lot training. Both Air Malta and Qatar Airways share the same quality service commitment towards their customers and through this codeshare agreement we are enhancing our cooperation to the benefit of our mutual customers." Economy Minister Silvio Schembri welcomed the code-sharing agreement between Air Malta and Qatar Airways. "is agreement pushes forward Air Malta to set presence in the eastern market. is is an important step in Air Malta's stance to continue enhancing its connectivity both on an international level. In fact, through this agreement Air Malta will be able to offer flights to Australia through just one stop in Doha. I look forward to seeing this partner- ship grow in the benefit of both airlines involved as well as means to better the customers experience when using our national airline. is is yet another initi- ative complimenting Air Malta's strate- gy to generate new streams of revenue," Schembri said. Qatar Airways began flying to Malta on 4 June 2019 with daily flights in the summer and a four-times weekly ser- vice during winter. Air Malta and Qatar Airways Sign Comprehensive Codeshare Partnership THIS week, the MFSA published a Feedback Statement following a Con- sultation Document on Security Token Offerings ('STOs'). e main aim of the Consultation Document was to estab- lish the MFSA's position on the use of Distributed Ledger Technology ('DLT'), within the context of the primary issu- ing, secondary trading and settlement of financial instruments which qualify as transferable securities. The Authority received feedback from 18 industry participants and interested parties which included na- tional agencies, regulated firms, as- sociations, technology providers, law firms and consultancy firms. MFSA's Deputy Head, Securities & Markets Supervision, Lorraine Vella explained that "this Feedback State- ment will pave the way for legal cer- tainty around Security Token Offer- ings (STOs) in the Maltese financial markets. It also communicates the Authority's expectations and its plan to promote innovation, by creating an optimal regulatory environment for the issuing and trading of DLT Assets which fall within the remit of Europe- an securities legislation." "The intention is to streamline our rules and regulations related to the auditing of all DLT Assets," she con- tinued. "This includes DLT-enabled financial instruments and virtual fi- nancial assets where the risks pre- sented by the underlying technology are materially the same." Since proposed business models can vary significantly both in struc- ture and in the way in which DLT is employed within a business environ- ment, when it comes to trading ven- ues the Authority plans to operate on a case-by-case evaluation. The Au- thority agrees with the feedback sub- mitted by the industry participants who claimed that a one-size-fits-all approach relating to the architecture of such trading venues, would not be suitable. Other considerations focus on investor protection, market integ- rity, and ensuring that the Authority's position remains congruous with the principle of technological neutrality. The MFSA acknowledges that its efforts to foster a regulatory cul- ture, which promotes innovation and the growth of Malta's STO markets, would need to operate within the pre-established European legislative framework. However, this framework may not always embrace the concept of decen- tralisation and this was particularly highlighted by respondents within the context of settlement. In this respect, the Authority reiterates its commit- ment towards the development of the local capital markets, and endeavours to collaborate with other regulators and international bodies where an effort on the international plane is needed to reap the benefits of tech- nology in the capital markets sphere. The full feedback statement is availa- ble on the MFSA's website. MFSA publishes its feedback statement following a consultation document on security token offerings Air Malta Chief Executive, Captain Cliff Chetcuti (right) with Qatar Airways Group Chief Executive, His Excellency Akbar Al Baker