Air Malta CEO Peter Davis’s salary is tax free - Labour

Kulhadd reports that according to sources, Davies’s salary will be completely untouched by any sort of taxation, meaning that €500,000 will be his net salary. Davies is to be paid €350,000 a year and a €150,000 performance bonus.

The report goes on to add that before taking up the CEO-ship, Davies – aged 61 – intended to retire from the private sector and live as a pensioner.

Peter Davies joined Malta’s national airline late last month following his position as managing director of Air Southwest in the UK.

The news was officially confirmed today after MaltaToday first broke the news in late March that Davies had been head-hunted to take over the beleaguered airline as it faces a drastic restructuring programme.

A qualified pilot, Peter Davies has also held operational and marketing positions in Qantas and as Managing Director at XP Express Systems, a subsidiary of KLM.

Davies has over 35 years’ experience in the aviation industry, both in passenger and express cargo operations and has served as CEO at SN Brussels Airlines, which he successfully launched as Sabena's successor.

During his term, Davies restored the airline’s stability after two years of operation by rationalizing the airline’s network and internal processes and focusing on yield management on European and African routes.

Peter Davies also oversaw the restructuring of BWIA into Caribbean Airlines. His overall experience covers various aspects of global transportation and express logistics including senior Board positions in DHL based in Europeand the US.