He takes on the role from Paul Helminger who had held role since May 2012 but decided not to renew his term due to personal reasons. Helminger has, however, been granted the role of honorary chairman of the board of directors.
Giallombardo, who has been a director at LuxairGroup since 2016, began his finance career in the grand duchy in 1984. He became UniCredit Luxembourg’s managing director in 2009 and member of its management board.
Giallombardo, who holds a doctorate in economics and business from the University of Florence, also is on the board of directors of Essilor-Luxottica Group, a leader in the optics industry.
Speaking of the appointment, Giallombardo said he was aware of the challenges of the role, citing that “the aviation industry [being] exposed to increasing competition, which leaves a regional player very little room to manoeuvre.”