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Top brass at Air Malta: what they are paid
PQ reveals salary of Air Malta's chief executive Joe Cappello
22 July 2010, 12:00am
Matthew Vella
Matthew Vella
2 min read
Air Malta chief executive Joe Cappello joins the ranks of Malta’s highest-paid in public companies, with a salary of €83,480 a year and an impressive performance bonus of 55% of his salary: €46,587.
2010 has been a difficult year for the airline as chairman Sonny Portelli has already warned pilots that the government must secure permission from the European Commission to prop the airline with public funds.
According to information disclosed in a parliamentary question to the finance minister, Cappello – a career man at the national airline – has only been paid one-third of his performance bonus for the past three years.
Salaries in the national airline have been in the past frozen due to the financial difficulties the company has been facing of late: Air Malta pilots, who earn between €72,000 and €120,000 annually, already accepted salary cuts back in 2004, which Air Malta says is money paid back to the company to aid its restructuring.
Cappello’s performance bonus is one-third based on personal performance, and the other two-thirds on reaching Air Malta’s budgeted operating results. He also gets a landline, mobile and internet service for personal use, life insurance, personal accident and health insurance, travel insurance, and a company car.
He is also entitled to an ‘end of contract’ bonus of €104,822, and like all other Air Malta top brass, is entitled to free Air Malta flights and discounted tickets with other airlines.
Similarly chairman Sonny Portelli gets free flights and insurance policies, and a €16,306 honoraria for his work. Portelli is also chairman of the Malta Council for Economic and Social Development.
The other directors of the Air Malta board – Alison Attard, Henriette Busuttil, Clyde Micallef, Anton Attard – are paid honoraria of €3,494, free flights, and travel, life and personal accident insurance policies.
Matthew Vella, a freelance journalist at MaltaToday, was formerly executive editor at Malt...
Chris Attard •
IS Sur Capello ghamel sagrificcju bhall ma ghamlu il piloti??Jew min qijed fil high rank iktar irid ???
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You're wrong Joe South My DARLING today it's not what education you have but WHOM YOU KNOW AND WHAT COLOUR ARE YOU I think U understand what I'm telling my darling Joe South
Luke Camilleri •
LIke Mr Walker the €93,000,000 less extras , MEPA Chairman, the work performance bonus should be erased fromtheir contract.
What performance, withsuch poor end of the year results. Onthose salaries one expects PROFITS and not deficits and loses.
PREMJATA ID-DEFICENZI U L-HBIEB TA' GONZIPN ghas spejjes taghna.
Dawn QURDIEN mhux CEOs responsabli, kieku fienu fil-privat diga qedin jirrigistraw.
Alfred Galea •
Just think about it, with a little bit more education you could have had a job like that. Making all that money.
Alfred Galea •
Just think about it, with a little bit more education you could have had a job like that. Making all that money.
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I don't know how this country must go on so these chairmen they have an outstanding salary of nearly 84,00o euros and we gave them all these BONUSES how can Malta can go on besides having this tremendous salaries we give them all these bonuse they are stealing our MOney and every azienda is neary BANKRUPT how can the governor continues with these terifying things to save Malta you have to start from the top Dr.Gonzi you and your ministers should be ASHEMED of yourselfs and the poor people don't have enough money to continue living like we should have and these chairmen are having these OUNSTANDING salaries Chairmen Joe Capello you want the workers to reduce their salaries and what about yours are you going to reduceit or the workers ONLY should sagrifce their wages
