Our approach to risk management starts with our first priority: the safety of our customers and employees. However, the veteran pilot who held voluntary positions with the pilots' association for a couple of years is dismayed by Qantas's approach to industrial relations. Opens in new window Andrew manages the Groups government, industry, public policy, regulatory, environment and international affairs worldwide. In the process, we aim to have a positive impact on the broader community and minimise our impact on the environment. 4.36 QFF follows the Qantas Group risk management practices, policies and procedures. We're in the process of finalising plans for a new program that will see Qantas support and engage employees in contributing to charitable causes that reflect our community strategy. Andrew moved to Australia in 2005 from New Zealand where hed spent thirteen years with Air New Zealand in various executive roles. "It was a metaphorical gun to the head," Tony Lucas said. Qantas claims that its approach is "common across the industrial landscape"; it's less common to use a structure of subsidiaries and silo companies to achieve that goal. ". The Qantas Sale Act requires the Constitution to contain specific provisions designed to reflect Qantas' position as Australias national carrier. A third hat has been thrown into the ring in the race for a potential new boss of Qantas as Alan Joyce prepares to step down as chief executive by the end of the year.. On 1 May, Qantas announced changes to its executive team that will take effect on 1 October 2019. . Supporting our Code of Conduct and Ethics is a suite of policy documents, procedures and guidelines that outline the minimum standards required of all our employees, and which support our employees to act legally and with integrity. Prior to joining Qantas in 1996, Naren worked for Air Pacific (now Fiji Airways) for 12 years in various executive roles, including Chief Operating Officer. The Audit Committee undertakes the functions of a risk committee as set out in the ASX Corporate Governance Principles. Our Code of Conduct and Ethics and our Group Business Practices document outlines the obligations of our employees, contractors and those we do business with in relation to anti-bribery and corruption, and together with guidance from global regulators, collectively form our anti-bribery and corruption compliance program. Gareth Evans was appointed CEO Jetstar Group in November 2017. k_'J+BpphOjtH`w=KBfvFl'`' m8d 4=lY1843VW\%zHg^@{yKwco4`PYd9_ Opens in a new window Qantas provide an opportunity for the maximum number of shareholders to attend an Annual General Meeting (AGM). The Qantas Group is committed to transparency on key performance indicators, including environmental, financial and social. Environment Policy; 6. In disclosing our financial performance, we comply fully with ASIC regulations, ASX rules and broader global reporting standards. Risk management Observations. CDP website. In addition to her current responsibilities, Lesley has played an active role within Qantas Group in talent development and inclusion and diversity. Our commitment is reflected in ourCode of Conduct and Ethics[PDF],Human Rights Policy Statement[PDF]and ourModern Slavery Statement[PDF]. Upgrade your web browser for an enhanced experience. A current ground staff member told ABC's Four Corners: "Anybody that thinks the outsource of the in-house ground handling is not a problem is delusional. Opens in new window. Annual reports The Annual Report contains key financial information about Qantas, as well as important operating and corporate information. I am the airline's first responder. OurWhistleblower Programis a key aspect of our approach to managing human rights, providing a confidential and accessible channel for individuals to raise matters of legitimate concern with us, so they can be addressed. The Qantas Group is working hard to get back to its best as it recovers from the unprecedented impacts of the COVID-19 pandemic and a rapid restart. Both roles will report to Qantas Group CEO Alan Joyce. The system is recognised globally by the industry as an example of best practice and forms the foundation of our risk management approach. % Prior to that, Vanessa was Senior Vice President for Qantas across the Americas and New Zealand; Executive Manager of Commercial Planning, where she was accountable for network planning and revenue management; and Executive Manager for Product and Service where she oversaw transformation in catering, airports and network aimed at driving better commercial and customer outcomes. They are: Our success as a business and our approach to corporate citizenship starts with the custodians of our brand - our people. On industrial relations, Qantas is notoriously hard-line. GROUP RISK MANAGEMENT POLICY - MAY 2021 Through our streamlined enterprise wide approach to risk management the Audit and Risk Committee is provided with visibility of material risks and our risk mitigation strategies. Prior to Qantas Olivia had held senior executive roles for a number of organisations including lobby group, the Tourism & Transport Forum and the Australian Tourist Commission. As a matter of fact, only particular people are gifted with a talent for writing. Our diversity strategy, meanwhile, is focused on mitigating unconscious bias, improving access to flexibility, recruitment and talent programs and dedicated leadership development. There is a large likelihood for the risks facing Qantas Airline to occur. Famously, on October 29, 2011, Qantas chief executiveAlan Joyce grounded the entire Qantas fleet worldwide, leaving tens of thousands of passengers stranded during an industrial dispute with pilots, engineers and ground-handlers. He is also president of the Australian and International Pilots Association, a voluntary position he holds alongside his job at Qantas. He commenced with Qantas as Chief Operating Officer in July 2014 and on 1 March 2015 was appointed Chief Executive Officer of Qantas Domestic. Qantas has said "data shows a lower rate of incidents compared to when ground-handling was done in-house". Among other roles in business and the community, Mr Joyce is a Director of the Business Council of Australia and member of the Male Champions of Change. It outsourced the work to contractors, anticipating savings of a hundred million dollars a year. Risks are assessed in accordance with the Qantas Group Risk Assessment Guide (QRAG). "I don't work for a tea and coffee company. Qantas is often referred to as a "legacy airline", which is code for an airline that came out of public ownership with generous pay and conditions compared tonewer competitors. He started this role in March 2015. Tino commenced his career in professional firms, including Ernst & Young, where he held Tax Accounting and Audit positions in Australia and the UK. We recognise that corruption has a negative social, economic, political and anti-competitive impact wherever it occurs. |w`ltDs:a^#8RW~s>br|7b}qa.}70}z? ;|k@@]Cv"}{ nvpw$/:`BZyY/UD0|pu!Hwm8m ZcAD19G&`BsGW'T'g0C-)> Ou3 ze1-?d*MM1xy{kxdzM]y=p5o=Mf[3*>v#AM We have a responsibility not only to meet expanding foreign and domestic anti-bribery legislation, but also to ensure that our business partners and those in our supply chain operate with a consummate level of integrity. The drivers of this result were consistently strong travel demand, higher yields and cost improvements from the Groups $1 billion recovery program that is nearing completion. Our sophisticated risk assessment utilises known bribery and corruption risk indicators and incorporates the Groups established risk assessment procedures to identify potential risk and, where required, to introduce adequate controls to mitigate that risk. 3. The Qantas Group beliefs anchor our internal priorities and initiatives, including investment in training, effective communication, rewards and recognition, and commitment to diversity and inclusion. *Subject to a dividend being declared by the Board. The Qantas Group is announcing changes to its Group Management Committee, as the national carrier moves into a new phase of growth and renewal. It expresses our commitment to provide for, or co-operate in remediation in line with the guidance provided under the UNGPs where we identify we have caused or to which we may have contributed or be directly linked to harm. Tino is a Chartered Accountant, a member of the Securities Institute of Australia and the Institute of Company Directors and is a member of the National Executive of the G100. "As frustrating as it is for passengers, for pilots it means we're working a lot harder to keep the flights on schedule," one Qantas pilot said. We hold ourselves to high standards in everything we do and give others the information to evaluate our performance. Group Management Committee. Joining Qantas in 1994 she has held a variety of senior commercial, customer and finance roles across the Group, both onshore and overseas. The GMC is chaired by the CEO and meets fortnightly to review Our Group Financial Framework - introduced in 2015 - aligns our strategy and key performance metrics with long-term shareholder goals, enabling consistent, year-on-year comparisons. <> 2. While the new FRMS allows for flights in excess of the current 20-hour ceiling, Project Sunrise flights will still need to be approved on a route by route basis. endobj The Qantas brand is synonymous with Australia. HWMq\~U. The latest FRMS was given the thumbs up by Australia's aviation safety regulator, CASA, following a 12-month trial. The Qantas Group works with partners to make a positive impact in the community, address disadvantage and extend opportunity. _W+ 2 0 obj They're not the same.". He has more than 35 years experience in the aviation industry across regional, domestic and international operations in both the premium and low cost carrier sectors. We aim to foster a workplace where people respect and tolerate the rights and differences of others. Since its privatisation 30 years ago, it has been finding creative ways to cut labour costs. The Whistleblower Policy [PDF]outlines the operation of the Qantas Whistleblower program including what qualifies as a Disclosable Matter, detail regarding how Qualifying Disclosures can be made, who qualifies as a Disclosing Person and who the Eligible Recipients for Qualifying Disclosures are. Mr Gissing previously held the position of Chief Executive Officer, Qantas Regional Airlines Group responsible for QantasLink branded operations. But conditions do not always remain grandfathered. Opens in a new window Finally, the global financial and economic crisis affects all companies undertaking the international business(Robertson, 2016). Vanessa has a Bachelor of Business and was admitted as a Member of the Institute of Chartered Accountants in 1994. "And then what they do is, they play one group of pilots off another group, and essentially threaten to take the flying a group of pilots is currently doing and give it to another group of pilots.". As Chief Financial Officer his portfolio included Finance, Strategy, Treasury, IT, Procurement (including Fleet), Investor Relations, Mergers & Acquisitions and the Groups Business Transformation Program. OurModern Slavery Statement (PDF)outlines in detail the measures the Group had to take to ensure its survival, including the potential human rights impacts, on our people, operations and supply chain. I work in a safety environment, on a heavy piece of machinery. The group consists of: Jetstar Airways in Australia and New Zealand, wholly owned by the Qantas Group. Opens in new window. Audit Committee: Belinda Hutchinson (Chair), Maxine Brenner, Jacqueline Hey and Todd Sampson. COVID-19 is the biggest challenge ever faced by global aviation and its impacts will be felt for some time. Pilot Keith Marriott retired in 2020 after a career flying planes for Qantas that spanned 36 years. He is a member of the ACC General Counsel Advisory Board, and ACC Australias GC100 and Advocacy Network. Opens in new window. More broadly, with Hong Kong open and China's abandonment of its zero-Covid policy, the IMF has forecast Hong Kong to grow 3.9 per cent in 2023, faster than Singapore's 2.3 per cent. Qantas Airways Limited shares are up 1.5% in Tuesday trading as we head into the lunch hour. He is careful not to overstate safety concerns but acknowledges risks have grown. Its constant refrain is that it does what it needs to do to meet its business objectives, compete in a tough market, and remain viable. Opens in a new window Qantas makes no apologies. An important element of this is to ensure we continue to refine the findings of our climate scenario analysis and incorporate them into strategy and planning decisions. After COVID devastated aviation in 2020, Qantas announced it would retrench 1,700 ground staff at Australia's major airports. Qantas provide an opportunity for the maximum number of shareholders to attend an Annual General Meeting (AGM). Our Supplier Code of Conduct creates clear expectations for suppliers in respect of labour rights and working conditions. TheQantas Group Business Practices Document (PDF)provides an overview of our beliefs, values and business practices and highlights the standards to be upheld by all employees. Learnabout how we're managing our climate risk by enhancing our understanding of the physical and transitional risks, as well as emerging opportunities that may arise from a changing climate. In addition to the human rights due diligence and risk assessment of new and recontracting suppliers, we commenced work to assess our existing unassessed supplier base. Risk management creates and protects value. It is usual for each risk to have a named risk owner. The Qantas Group entered the crisis in better shape than most airlines. We are committed to achieving world class environmental performance in all aspects of our business, reducing our emissions footprint, and contributing to the growth of a low-carbon economy. At the heart of our everyday activities are a set of business principles and commitments that ensure fair dealing and protect stakeholder interests. 148 0 obj <> endobj 172 0 obj <>/Filter/FlateDecode/ID[]/Index[148 45]/Info 147 0 R/Length 108/Prev 929664/Root 149 0 R/Size 193/Type/XRef/W[1 2 1]>>stream View the highlights from the latest and previous Investor Days as well as the accompanying Australian Stock Exchange (ASX) releases and webcasts. 4.2 Risk management process The risk management system is dynamic and is designed to adapt to GTN's developments and any changes in the risk profile over time. Qantas maintains it has excellent relations with what the chief executivecalls "our people". We were also told inexperience led to close calls, because it wasvital luggage and cargo be loaded onto planes correctly for the right weight distribution. He is a Fellow of the Royal Aeronautical Society and the Australian Academy of Technological Sciences and Engineering and holds a Bachelor of Science in Applied Science (Physics and Mathematics) (Honours) and a Master of Science in Management Science. Weve been serving communities for more than 100 years. The same tactics were used with short-haul pilots in the modernisation of the domestic fleet. Opens in a new window It claimed unions weremaking "baseless and generalised" safety claims to "further their industrial agendas". Risk Management Policy is framed as per the following regulatory requirements: Companies Act, 2013: Provisions of the Section 134 (3) "There shall be attached to financial statements laid before a company in general meeting, a report by its Board of Directors, which shall include %PDF-1.6 % The Annual Report contains key financial information about Qantas, as well as important operating and corporate information. Risk management is systematic, structured and timely. We regularly review our risk triggers and due diligence processes to ensure they are reflective of changes in the global environment and are effectively designed to enable us to identify, prevent, mitigate and account for how we address modern slavery risk in our supply chain. Mr Finch has more than 25 years legal experience in Australia and overseas, joining the Qantas Group from the leading Australian practice of Allens, where he had been a partner specialising in mergers and acquisitions, equity capital markets and general corporate and governance advice. ", Another observed: "I feel like the staff have been beaten down. He recalls how, on some flights, he would work alongside staff from a UK Qantas subsidiary, a New Zealand Qantas subsidiary and legacy staff, on different pay and conditions. We report transparently to demonstrate how we're creating shareholder value, advancing our strategy, laying foundations for long-term sustainability, and making a positive impact in the communities we serve. This policy outlines the expectations that the Council and University Executive have with respect to risk management, and to ensure management can demonstrate that risks in all parts of the University are being identified and managed in a way that is appropriate for the business environment and objectives. security and internal audit risk across the Qantas Group. Upgrade my browser. This incident can be seen one of two ways:The fact that a supervisor apparently picked up the error before the plane departed could suggest that the Swiss cheese defences are robust. Alan Joyce has been Chief Executive Officer and Managing Director of Qantas since November 2008. Qantas risk management practices capture threats and opportunities that have been assessed using the QRAG, with risks reported to Executive Management based on their significance (risk rating and/or consequence levels). But in the aviation chaos of the past few months amid huge numbers of delayed flights, cancelled flights, and after the loss of experienced staff employees have told us about their fears that the stellar reputation of the airline they love could be undermined. Prior to March 2010, Mr Evans roles with Qantas covered many areas including a number of senior financial roles within the Group, commercial and business analytics and the implementation of major business change initiatives; scheduling of the international and domestic network, ticket pricing, revenue management and airline operations on the day; as well as readiness activities for the arrival of the Airbus A380.