Issue link: https://maltatoday.uberflip.com/i/380554
SUNDAY • 14 SEPTEMBER 2014 • ISSUE 775 • PUBLISHED EVERY WEDNESDAY AND SUNDAY maltatoday AIR Malta's financials may be about to experience renewed turbulence, with the departure of trusted government man and airline CEO Louis Giordimaina under a cloud of €30 million in losses forecast for March 2015. The figure has not been denied by tourism minister Edward Zammit Lewis, who on being stepped up from parliamentary secretary, has seen the departure of Giordimaina, as well as Air Malta chairman Ray Fenech, and that of Malta Tourism Authority chief Josef Formosa Gauci. Zammit Lewis on Friday did not confirm claims that an em- bittered Giordimaina had been left out of company board meet- ings. "Mr Giordimaina stepped down from office due to personal reasons as stated in his resigna- tion letter. People moving on is a reality that needs to be dealt with by every organisation." Newspaper post YOUR FIRST READ AND FIRST CLICK OF THE DAY WWW.MALTATODAY.COM.MT PRO BONO MUSIC? CONTINUES PAGE 4 Air Malta insiders balk at millions in forecast losses MATTHEW VELLA A glaring conflict of interest between Enemalta officials and their private sector partners was hidden from pry- ing eyes thanks a trust agreement that Frank Sammut, the petrochemist, signed on their behalf. A trust agreement signed by Sam- mut (pictured below) and seen by MaltaToday confirms that when Sam- mut was chief executive of Enemalta subsidiary MOBC, he roped in then Enemalta chairman Frank Sammut and partners Francis Portelli and An- thony Cassar with a 25% share each in a nominee company that sealed their business partnership. But the timing of the company incorpora- tion, together with the fact that the noinee company was established in secretive Lugano and registered in Panama, sug- gests that the Enemalta offi- cials wanted to keep their busi- ness relationship secret due to the glaring conf lict of interest they had. Sammut is facing criminal charges of accepting bribes during his tenure as MOBC chief execu- tive. CONTINUES PG 8 €1.20 Secret Panama company that Frank Sammut used to hide Enemalta conflict of interests EXCLUSIVE Paola shopkeeper unhurt as shop front is sprayed with gunshots • Photos by Ray Attard PG3 Air Malta insiders balk at CRIMINALS TARGET PAOLA STORE Minister asked about forecast of €30 million losses in 2015 • Air Malta chief fi nancial offi cer Clare Brown leaves company What do Maltese musicians think of giving their music away for free? PAGE 16 MUMS AGAINST DECRIMINALISATION PG 15 Mr Nice Guy in Brussels 'Vella's decisions will have to pass the scrutiny of the entire Commission' INTERVIEW PGS 12-13