Issue link: https://maltatoday.uberflip.com/i/1252422
28.05.2020 4 NEWS Air Malta cabin crew to maintain jobs after making concessions in negotiations PAUL COCKS AIR Malta's Union of Cabin Crew members have approved a financial package proposed by the airline, putting pres- sure on the airline pilots' association (ALPA) to follow suit. In a message on Facebook yesterday evening, Economy minister Silvio Schembri welcomed the news, following the 'long and difficult' negotiations between the two parties involved. "The negotiations have resulted in the workers mak- ing some concessions but no workers will be losing their job," he said. In April, Air Malta had announced it would be making 108 pilots from its staff of 134 redundant, after ALPA refused to take a radical pay cut of €1,200 a month due to the coronavirus grounding all flights. The airline had said it would also make 139 cabin crew on indefinite contracts redundant, and stop 145 cabin crew on fixed-term contracts. In his Facebook post, Schembri thanked the cabin crew for their 'sacrifice', saying this would allow the airline to be more competitive. "Because of them, we can save the national airline," he said. "Now all that's left is for ALPA to also agree to help lower the company's operating costs." It is as yet unclear what the 'sacrifice' UCC members had to make in the negotiations entails. Attempts to contact Schembri or union representatives proved un- successful. A new supervisory and enforcement dashboard published by the Malta Fi- nancial Services Authority highlights the key performance indicators with respect to regulatory oversight and en- forcement effectiveness, focusing on the MFSA's key supervisory priorities. The dashboard underscores the pro- gress made in capacity building and re- sourcing, increase in training and edu- cational activities, enforcement actions and on-site examinations. It also focuses on the targets set for 2020 which are in line with the MF- SA's strategic objectives but also the commitments made with international institutions in addressing key recom- mendations. The MFSA's transformational journey is geared towards raising compliance and supervisory standards across the board enabled by a more data-driven and risk-based supervisory framework as part of a wider technology strategy. Complementing these figures are a list of measures which the MFSA is tak- ing to strengthen supervisory effective- ness and improve risk mitigation. These will enable the MFSA to pre- pare for the next generation of financial services and fulfil its mandate of safe- guarding the integrity of financial mar- kets whilst maintaining stability within the sector and protecting consumers. Through this dashboard, the MFSA is outlining its key priorities for the next three years with a commitment to de- liver a more agile, dynamic and safe en- vironment for the benefit of both con- sumers and regulated firms. MFSA's supervisory and enforcement effectiveness dashboard FinanceMalta webinar on role of financial services in moving the Maltese economy FINANCEMALTA will be holding the first in a series of free webinars to sup- port the financial services industry dur- ing these unprecedented times. The we- binar, which will be held on Wednesday 3 June 2020 at 14:00hrs, will provide insight on the financial services industry in the challenging scenario created by COVID-19. The theme of the FinanceMalta we- binar is "The role of financial servic- es in moving Malta's economy in a COVID-19 situation" and will provide the views of two leading figures in the Maltese economy, namely Kurt Far- rugia - CEO at Malta Enterprise, and Dr Gordon Cordina - economist at E-Cubed Consultants. Participants will be addressed by Parliamentary Secretary for Financial Services and Digital Economy, Clayton Bartolo. The webinar is aimed at all players in the financial services industry, entre- preneurs, students and anyone inter- ested in knowing how the challenges posed by the pandemic are being tack- led from an economic perspective. The webinar, which is free to attend and will last one hour, will also feature a Q&A with the speakers. For more in- formation and to register visit: https:// financemalta.org/events/the-role-of- the-financial-services-industry-in- moving-maltas-economy-in-a-covid- 19-situation/ The speakers during FinanceMalta's upcoming webinar (from left): Parliamentary Secretary for Financial Services and Digital Economy Clayton Bartolo, Dr Gordon Cordina - economist at E-Cubed Consultants, and Kurt Farrugia - CEO at Malta Enterprise