Occupying several top positions throughout his long career in the insurance industry, Air Malta Executive Chairman David Curmi was able to develop his expertise in financial services. He now sits at the helm of Malta’s flag carrier airline.
Looking towards the remainder of 2022, Mr Curmi remains cautious, despite the fact that the worst of the COVID-19 pandemic seems to have passed.
“We are not yet out of the woods in the travel sector. 2022 will be another difficult year, with pre-COVID-19 passenger movements not likely to be reached before 2024. But the second half of 2022 should be better than the first. The main challenge will be to create adequate revenue streams,” he says.
Addressing his peers, Mr Curmi suggests remaining “agile and plan[ning] strategically for profitability and liquidity, because there’s nothing more strategic, especially in and after a crisis.”
“Do not plan to ‘return to normal’ – that means running your business the way you always did. Instead take the opportunity to completely rethink how to do business. The industry will, at some stage, recover. But it will no longer respect tradition – it will only respect change and innovation,” he concludes.
This article is part of the serialisation of interviews featured in MaltaCEOs 2022 – an annual high-end publication bringing together some of the country’s most influential business leaders.
MaltaCEOs 2022 serialisation: For seven years, WES Trade has helped an expansive range of clients internationalise their products and services.
MaltaCEOs 2022 serialisation: Unsurprisingly, given his technical background, Joseph’s approach is very hands-on.
MaltaCEOs 2022 serialisation: CEO Paul Magro counts building successful teams and opening an office in London among his achievement.
MaltaCEOs 2022 serialisation: CEO David Magro is keenly aware of the responsibility his position carries.