Issue link: https://maltatoday.uberflip.com/i/1406390
14 maltatoday | WEDNESDAY • 01 SEPTEMBER 2021 NEWS BOV Bank of Valletta promises further support as pandemic effects persist on Tourism Industry THE last quarter of 2021 will be crucial for the Tourism sector, as Bank of Valletta promises to keep supporting the industry amidst the COVID-19 pandemic persistence. Speaking during the Quarterly MHRA Reports Episode, Bank of Valletta Chief Business Banking Officer, Albert Frendo, explained that 85% of moratoria granted by the Bank have now expired, meaning that most businesses who applied for a moratorium with the Bank are now back on track with their committed re- payments. However, and as expected, the tourism industry is the worst hit through the consequences and lack of travelling. In fact, the re- maining 15% of moratoria are those related to businesses oper- ating in tourism and hospitality. Frendo stated that Bank of Val- letta will continue to provide fi- nancial aid to this sector whilst fulfilling its role as a backbone to the Maltese economy. He al- so appealed to the local author- ities to define a clear short-term and long-term strategy for the tourism industry as the country is slowly moving out of the pan- demic fatigue. On the same wavelength, Raph- ael Aloisio, Financial Advisory Leader and Director at Deloitte Malta, stressed on the impor- tance of the tourism sector to the Maltese Economy whilst assuring that tourism was, and will remain one of the strong- est sectors. It's only a matter of when the industry will return to pre-pandemic figures and statis- tics. Summer 2021 has seen an in- crease in the sentiment and confidence amongst potential travelers in the largest European countries. Following the darkest periods of COVID-19, French, Italians and Spaniards are the most likely who will return to travel across Europe sooner than any other, whilst the Dutch are the most likely to spend their stays in a hotel rather than in any other accommodation. With these encouraging facts, the tourism industry is gearing out to see the light at the end of the tunnel. In his conclusion, the BOV Chief Business Banking Officer noted the resilience of hoteliers and commended their will to in- vest. Instead of throwing in the towel during the lockdown pe- riod, most entrepreneurs in the hotel & restaurant industry took the plunge to modernize and upgrade their facilities, making them ready and even more com- petitive once they opened back to foreign and local holiday makers. Air Malta appoints 'Discover the World' as partners AS Europe opens up for regional travel, Air Malta has renewed its focus to trade partners with the appointment of 'Discover the World' for the markets of the Netherlands, Belgium, Germany and Switzerland. Air Malta's Chief Commercial Officer Roy Kinnear said, "We are pleased to be expanding our relationship with Discover the World, who were already assist- ing us in our activities in second- ary markets. Discover the World will now drive our sales and mar- keting efforts and help promote the Maltese Islands in these pri- mary markets. As we restart to gather momentum and increase frequencies to various markets, we are looking forward to work with Discover the World who, through their extensive network and experience, will assist us to promote Air Malta as the airline of choice to the Maltese Islands." Ian Murray, Discover the World's CEO said, "We are de- lighted to be working with Air Malta across these key European markets. A fantastic brand ser- vicing an amazing destination is a winning combination. With our super Air Malta and Discov- er sales teams, we will maxim- ise all opportunities to help our trade partners and consumers book with ease and with confi- dence." Alex Savona, Air Malta's Head Global Sales added, "From quaint beaches and crystal blue sea to trendy restaurants, to magnificent ancient monuments and a stunning legacy of centu- ries' old art and culture, Malta has something to offer for every- one. Located at the heart of the Mediterranean, our guests can start enjoying the renowned Maltese hospitality as soon as they step on board our flights. We are looking forward to work with Discover the World to drive Malta's and Air Malta's unique selling propositions in these markets." Aiden Walsh, Head of Airline Development for Discover the World commented, "We are ex- cited to play an integral part on growing sales for the destination of Malta. We look forward to engaging with our travel trade partners to position Air Malta as the preferred carrier of choice to Malta and her Islands. We have put in place a dedicated team in these key markets all offering direct flights to the beautiful Is- land." Discover the World will be re- sponsible for providing extensive field sales services to Air Malta, spearheading personal-visit sales campaigns; building on existing trade relationships and increas- ing ticket revenue from new agencies and operators keen to share in the upswing of demand for holidays to Malta. Ian Murray, CEO Discover the World (left) together with Roy Kinnear, Air Malta's Chief Commercial Officer during a familiarisation trip to the airline's headquarters in Luqa, Malta.