Joseph N Tabone, best known for his roles as former Chairman of Air Malta and Bank of Valletta, has died at the age of 92.

Former colleague from the marketing departments of BOV and Air Malta John Saliba made the announcement on Tuesday evening (yesterday).

Mr Tabone was an accountant by profession. He led Rediffusion in the late 1960s, later taking the plunge and setting up his own accountancy firm.

In 1987, he was appointed Chairman at BOV, launching a landmark occasion – the privatisation of the bank.

Five years later, in 1992, he moved to Air Malta. During his time at the national carrier, he is perhaps best remembered for a controversial decision to buy seven regional jet aircraft, Avro RJ 70s. At the time, he justified his decision by believing the airline could expand into new Mediterranean destinations which could continue to be served during the shoulder winter months.

He was also responsible for setting up the blighted Air Malta subsidiary airline, AzzurAir.

In 1996, Mr Tabone left Air Malta to set up his own company: Citadel Insurance plc, where he stayed on as Chairman.

Further, he held the top position at the Malta Chamber of Commerce as President between 1985 and 1990. He also served as President of the Malta Institute of Accountants and as a Council Member of the Federation of Industries.

Upon announcing his death, former colleague Joe Saliba described how Mr Tabone would not take no for an answer, when approaching him to leave BOV and join him at Air Malta.

He thanked him for inspiring him and instilling in him a professional work ethic, as well as for all the opportunities he provided him.