Entrepreneur Albert Mizzi, who had set up Air Malta in 1973, died today, The Malta Independent has learnt.

Born in Valletta in 1927, Mr Mizzi was educated at St Aloysius College and, at the end of World War II, joined the family business of Alf. Mizzi and Sons.

From then onwards, he embarked on a career of more than 60 years in business that took him into real estate development, hotels and tourism, importation and distribution, manufacture and export, and retailing.

Mr Mizzi was entrusted with the setting up of Air Malta, of which he was executive chairman for 19 years, Sea Malta Co Limited, Mediterranean Oilfield Services Ltd, Mediterranean Insurance Brokers Ltd and Middle Sea Insurance Company Limited.

In 1992, he chaired the Malta Council for Economic Development and Malta Shipbuilding Company, and was instrumental in setting up Malta Gantry Manufacturing Ltd and Malta Win Cargo Containers Ltd.

From 1955 onwards, Mr Mizzi was a member of the Chamber of Commerce council, holding the post of treasurer and secretary. He was founder member of the Malta Trade Fair Corporation and a council member of the Federation of Industry.

For a time, Alf. Mizzi and Sons was a shareholder in Standard Publications Limited, publishers of The Malta Independent.

In November 2005, Queen Elizabeth appointed Mr Mizzi as Honorary Officer of the Most Excellent Order of the British Empire.

Mr Mizzi married Elda Radmilli in 1953 and they have a son, Alec.

Government, parties pay tribute

The government, the Labour Party and the Nationalist party expressed their condolences in separate statements.

The government said the country had lost one of its best exponents in the business sector. Mr Mizzi contributed towards employment with his business skills. It said hundreds of workers benefited from his innovative ideas in various sectors, including tourism, banking, catering and property.

The Labour Party recalled the work Mr Mizzi had done to establish Air Malta and his efforts in other sectors, including manufacture and tourism.

The PN said Albert Mizzi was “a visionary who contributed in no small manner to Malta's economic development. His work, both at the helm of Alf Mizzi and Sons, and at helm of numerous public corporations, was characterised by correctness and steadfastness. Albert Mizzi believed that the best option is hardly ever the easiest option and he was never afraid to do what is necessary and to stand his ground.”

The President and Council of the Malta Chamber of Commerce, Enterprise and Industry extended their deepest condolences to the family of Mr Mizzi.

Mr Mizzi was a stalwart of the Maltese Business community, the chamber said in a statement. His contribution to Malta’s economic development since the 1960s was most instrumental to the country’s development. He will be remembered as one of Malta’s foremost entrepreneurs and a gentleman.

As a member of the Malta Chamber, Mr Mizzi was most active, occupying numerous prestigious roles namely Council Member, Chairman of the Importers Trade Section, Honorary Secretary and Honorary Treasurer.

HSBC Malta honoured his memory and offered sincere condolences to the family. Albert Mizzi was the first Chairman of HSBC Bank Malta p.l.c. and held that post for 14 years until stepping down in May 2013.

“Albert was a man of great character and resolve. It was indeed a pleasure working with him. He was dedicated and gave loyal service as Chairman of this Bank,” said CEO Mark Watkinson.

Current chairman Sonny Portelli said: “Albert’s outstanding stewardship has been instrumental in building the business we have today in Malta. I know that both myself as well as past and present directors and CEOs relied on his wise counsel and support over the years.”

All bank’s flags are to be flown at half-mast on Friday and Saturday.

The president and council of the Malta Hotels and Restaurants Association (MHRA) also said they were saddened by the news.

"Albert Mizzi saw Malta become independent and was the first Chairman of Air Malta Company Ltd prior to its’s first flight and under his chairmanship between 1974 and 1988 saw the airline grow from two aircraft to eight aircraft. In addition Air Malta had opened and operated three hotels and a number of other subsidiaries including Air Supplies which handled the airport duty free. Mr Mizzi was the chairman of the Mellieha Bay Hotel one of the first hotels in the North of Malta. He was also chairman of the Alf. Mizzi Group with vast interests in importation and retailing both in Malta and abroad.

“Albert Mizzi was one of Malta’s visionaries that helped take the island from a military base to a developed free market economy. He will be remembered as being a perfect gentleman, a person with passion for life, and a great interest for all those that worked with or for him” said Tony Zahra President of MHRA.

The Malta Developers Association (MDA) also paid tribute to Mr Mizzi whose contribution to the economy in state companies as well as the public sector was invaluable to Malta's progress.