Upgrade my browser. Opens in a new window 4.36 QFF follows the Qantas Group risk management practices, policies and procedures. If we identify material risks, we will work with suppliers to remove the risks where possible, and otherwise to substantially mitigate them. A $200 million investment in operational resilience delivered a significant improvement in operational performance for customers. Our people are back at work, millions of customers are safely flying across Australia and around the world, and weve made significant progress on our three-year recovery program. You basically fully commit your life to the job, but your skills are not portable. Jetstar's community initiatives include Star Kids, which raises funds for World Vision, and Flying Start, which offers grants for charitable initiatives. TMC network Uniglobe Travel has strengthened its presence in Europe by adding new members in the UK and Turkey. Our due diligence program assists us to assess and ensure that those we partner with operate with a commensurate level of integrity, operate within the law and meet our requirements. He was Chairman of the International Air Transport Association between July 2012 and June 2013. The Qantas Board of Directors is responsible for confirming that Qantas has an appropriate corporate governance framework to ensure the creation, protection and enhancement of shareholder value. 1 . This process is designed to identify, assess, monitor and manage all business risks, including strategic, operational, financial, and compliance risk. Risks are assessed in accordance with the Qantas Group Risk Assessment Guide (QRAG). 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. 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. and Acting Responsibly. Opens in a new window The objective of this Risk Management Policy (RMP) is to ensure that we are managing risk to the best of our ability to enable the successful achievement of the Bank's objectives. 2. Reconciliation Action Plan (RAP) The Qantas Constitution (PDF) is Qantas' key governance document. Alan Joyce has been Chief Executive Officer and Managing Director of Qantas since November 2008. Risk management is based on the best available information. Mr Finch leads a team that is responsible for the management of legal, governance, compliance and business integrity, safety, security and internal audit risk across the Qantas Group. Andrew Finch joined the Qantas Group in 2012 and is the Qantas Groups General Counsel and Group Executive, Office of the CEO (being the Groups central assurance functions of safety, security and internal audit). All items in the FY21 Results Presentation are reported on an Underlying basis, unless otherwise stated. hereOpens in new window FY22 continued to present significant challenges for the Group as we navigated our recovery from the widespread impact of the global pandemic. Our Qantas Group Beliefs are our shared commitment to deliver our business goals and to create a great place to work. Comply with Group Management Systems and Policy. Qantas has made several changes to its management team - including a contender to replace CEO Alan Joyce following rumours about a possible retirement at the end of this year. He is a member of the Institute of Chartered Accountants in England and Wales. Andrew is a board member of the peak advocacy group for airlines in the region - Airlines for Australia New Zealand (A4ANZ) and is also a member of the IATA Industry Affairs Committee and an Advisory Board Member of the Tourism & Transport Forum. The costs being used for normal business operations may exceed the capital making it difficult for the company to progress. If there is a medical emergency, I'm required to run towards it and render all help required," Matthew Allsop said. The Qantas Group encourages Disclosing Persons who have reasonable grounds to suspect a Disclosable Matter to make a disclosure via the following channels, by: Further information about how to make a disclosure, and additional Eligible Recipients is available in the Policy. 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. Volatility is part of the Qantas Group's everyday operating environment, whether it's in the prices we pay for fuel, business and consumer confidence levels, weather patterns across our global network, or broader geopolitical events. It is intended to ensure a consistent approach to risk management throughout the university. The CHESS has responsibility for strategy, policy, systems oversight, monitoring and corporate governance over operational risks of the Qantas Group. "We're working longer hours. 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. "It was a metaphorical gun to the head," Tony Lucas said. Policies Policies Find the information you need to service your customers with ease. Security Policy. He is a member of the ACC General Counsel Advisory Board, and ACC Australias GC100 and Advocacy Network. In line with the guidance of the UNGPs, the issues were identified applying the lens of the risk of harm to people, and the severity assessed based on the scale, scope and irremediability of each impact. We know that how a business conducts its activities and operations can affect the human rights of other people, whether they are employees, customers, workers in our supply chain, or the broader community. Qantas is committed to respecting all internationally recognised human rights, as well as complying with national and certain international laws, we voluntarily commit to uphold the standards of theUN Guiding Principles on Business and Human Rights (UNGPs)Opens external site in a new window. Opens in new window, To read our Supplier Requirements and find out more about our supply chain, Qantas provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age . The respect of human rights is key to our business practices, and we proactively undertake ongoing human rights due diligence in our operations and across our supply chains. Tino La Spina will move to the role of Chief Executive Officer of Qantas International on 1 October 2019, with Vanessa Hudson formally commencing as the Groups new Chief Financial Officer on the same date. Where appropriate, we're committed to working with external organisations and initiatives that promote transparent reporting of financial and non-financial metrics in the public interest. He commenced with Qantas as Chief Operating Officer in July 2014 and on 1 March 2015 was appointed Chief Executive Officer of Qantas Domestic. This will have negative impacts on the company profits and may also be an opportunity for the competitors to thrive. We monitor global developments in governance, laws and business practices, and work collaboratively across our global footprint to ensure we continue to meet these standards. 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. "All the disruptions that we're getting, none of them, in and of themselves, are anything different to what we deal with on a day-to-day basis," he told ABC's Four Corners. View the highlights from the latest and previous Investor Days as well as the accompanying Australian Stock Exchange (ASX) releases and webcasts. |}CWM[]*C:5m6n~5V}xwm]\M^^uwHYc'{{u9+jt4o\>-{67['aN~_aR,X,,EQ+:#W9u^P5B-9;+u A=3I{ ,ymxd1g9f)y>G#|DQaFAFaFAFa.A.a.A.aAaA@ @ @ @ @ @ @ yyx In disclosing our financial performance, we comply fully with ASIC regulations, ASX rules and broader global reporting standards. "But what we're seeing at the moment, we're seeing them occur multiple times in the day. 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. better managing the behaviour of customers. Our services include term papers, research papers, book reviews, homework assignments, dissertations, assignments, business papers, and thesis papers. Since operationalising our Supply Chain Assurance program weve continued to assess how we interpret and respond to risk. . Nearly every student wishes to succeed in his or her future career, and it is inseparably linked to your competence in research paper writing. The costs of maintaining staff will contribute to negative impacts on the company profits. Part of Wallace's remit will be to guide preparations for the company's "Project Sunrise," according to Qantas. "It's been prepared to take every angle under the act. Satguru Travel, based in Wembley, London, is joining Uniglobe's network alongside Istanbul's Karavan Travel, which has been operating since 1969. We have made the decision to not actively participate in the following external initiatives: Qantas Group Corporate Governance Statement, Modern Slavery and Human Trafficking Statement, Everyone has the right to return home safely, Being a fit, agile and diverse organisation drives innovation and simplicity, Working together in an inclusive manner always delivers the optimal group outcome, Each employee deserves respect, trust and good leadership. The Company's Risk We have established systems and processes to ensure our suppliers (or the partners we work with) prioritise safety and sustainability in the same way we do. Opens in new window. endstream endobj 149 0 obj <>/Metadata 17 0 R/Pages 146 0 R/StructTreeRoot 31 0 R/Type/Catalog>> endobj 150 0 obj <>/Font<>/ProcSet[/PDF/Text/ImageC]/XObject<>>>/Rotate 0/StructParents 0/TrimBox[0.0 0.0 841.89 595.276]/Type/Page>> endobj 151 0 obj <>stream The risk management system is based on a structured and systemic process which takes into The Qantas Group's strong governance frameworks are overseen by the Board of Directors and the Group Management Committee. Our approach to risk management starts with our first priority: the safety of our customers and people. The findings showed Qantas had similar instances to the national workplace averages but we want the Qantas Group to be significantly better than this. "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.". Aviation has been at the forefront of the global business response to climate change, becoming the first industry to voluntarily commit to emission reduction targets as far out as 2050. Costs of acquiring and maintaining staff. It outsourced the work to contractors, anticipating savings of a hundred million dollars a year. Risk management is an integral part of all organisational process. "I would say that the Australian domestic market is the most competitive in the world. Now, the first thing we do is have a look at what work is up to its time limit and has to be done, so the plane can fly the next day.". An Engineering degree in Aeronautical, Mechanical, Electrical or equivalent. Following the review we have re-defined our approach to ensure all Qantas Group workplaces are safer for our people by: Our inclusion and diversity strategy is focused on driving an improved people experience (and in turn, better business outcomes) by removing barriers to inclusion and creating greater opportunities for participation. Talk to people in safety-critical roles in aviation, and it's often not long before conversation turns to the 'Swiss cheese model'. Risks do not exist in isolation from other . Alan Joyce says it's "not good enough" thatQantas customers have been been dealing with flight delays, cancellations and lost baggage over the past few months. Therefore, job security is absolutely paramount, and pilots cherish their job security. 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. We integrate aviation operational safety, work health and safety, aviation and cyber security, environment and business resilience, learning from collaboration and shared experiences to make the system better and stronger. The system integrates the management of risks associated with aviation operational safety; workplace health and safety (WHS); aviation and cyber security; privacy and data governance; environment (including climate change); and business resilience. FY23 Preliminary Final results announcement. 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. "We're seeing them occur across multiple weeks, and ultimately that's where things start to increase in operational complexity. As weve done during the pandemic, were continuing to transform to make sure were well positioned for the future. Andrew is also the Qantas Group Company Secretary. The Board adopted its Board Charter (PDF) on 1 September 2003. This includes aviation safety, WHS, environment, security (including cyber security) and business resilience matters. The Group has considered transport of unsuccessful asylum seekers through multiple lenses, including as part of the salient human rights issues assessment undertaken in 2018; a targeted risk assessment inclusive of the impact to our broader stakeholder group; and the Groups capacity and qualification to second guess a complex and comprehensive regulatory and judicial process. Especially the staff that we deal with on a day-to-day basis around aeroplanes, ground staff, check-in staff. 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. Join Qantas Frequent Flyerorsubscribe to Red Email today. Consistent with the Groups consultative approach on this complex issue to date, we expect that as our operation resumes, that our dialogue with stakeholders will also resume. Last year, Qantas proposed a new agreement to its international flight attendants that involved significant and deeply unpopular changes to rosters and other conditions. 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. The Qantas Group highly values and promotes a speaking up culture, where all Disclosing Persons feel comfortable to raise matters that are of legitimate concern to them, including in relation to a potential breach of any legal or regulatory requirement or a Qantas Group Policy. 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 making it easier for people to formally report workplace bullying and harassment; improving the inclusiveness of organisational culture; and. We are red-lining, running at max capacity in a very dynamic, challenging environment. Qantas takes a proactive approach to managing risks in our supply chain. Our sports and arts sponsorships are focused on supporting elite Australian talent and helping our national teams excel in global competitions. Our anti-bribery and corruption risk assessment program is being progressively launched across our business. 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. To avoid accidents, it is necessary to put many slices together to layer the defences so there is no possibility that the holes can line up and an accident happen. Qantas makes no apologies. The Audit Committee, at least annually, reviews Qantas Managements establishment and operation of an enterprise-wide risk management system. As a result, we have emerged from the pandemic a stronger and more resilient company. Qantas Airways Limited ABN 16 009 661 901. The three principles that underpin this approach are: Every Qantas Group employee is a custodian of our reputation for excellence and integrity, with a responsibility to uphold the standards we set ourselves and the values we represent. Unless they accepted Qantas's terms, it warned: "We will be left with no viable alternative but to have [the] flying performed by a new employment entity that can provide the cost base we need.". The group consists of: Jetstar Airways in Australia and New Zealand, wholly owned by the Qantas Group. The Handbook is one of a number of tools and resources available to staff at UQ designed to encourage the development of policies and procedures that are clear, effective and appropriate. 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. Qantas' new first-class cabin will debut on Airbus A350 service to New York and London in late 2025. Credit: Qantas. On industrial relations, Qantas is notoriously hard-line. The Qantas Group is committed to transparency on key performance indicators, including environmental, financial and social. The Qantas Group entered the crisis in better shape than most airlines. We report our progress against the framework goals through half-year and full-year results announcements, quarterly trading updates, our Annual Review and Report, our Annual General Meeting, regular Investor Days, and other ad hoc investor presentations. A key test is whether participating in these external initiatives complements and extends our own reporting in a meaningful way. He joined Qantas in 2006 as General Manager Strategy, then CFO and Head of Commercial for Loyalty and was Group Deputy CFO from August 2009 before being appointed Group CFO in March 2015. 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. 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. All our suppliers are required to comply with Qantas' It does not dispute union estimates that numbers are down by up to 35 per cent on the levels it had before the onset of COVID-19. "And, when you equated their hourly rates and conditions, one legacy crew, for example, would get you two Kiwis, three British or two Qantas Cabin Crew Australians," he said. Olivia Wirth was appointed as Chief Executive Officer of Qantas Loyalty in February 2018. The UQ Policy Handbook is to assist UQ staff developing policies and procedures. "Bags aren't making aircraft on time. Environment Policy; 6. The Group reported a $1.43 billion Underlying Profit Before Tax and Statutory Profit After Tax was $1.0 billion. Com , 2016). After three years and $7 billion in statutory losses due to the pandemic, the Qantas Group has returned to profit with a record result for the first half of FY23. Risks are potentialities, and in a project management context, if they become realities, they then become classified as "issues" that must be addressed with a risk response plan. In that time, weve seen massive economic and technological advances and responded by transforming and adapting our business, setting milestones for the aviation industry along the way. Qantas told us it "grandfathers" older conditions for long-serving employees "from a different era of aviation",enabling Qantas to become more competitive over time. As Qantas was betting, the resulting economic damage led the government to intervene and send the dispute to arbitration before the Fair Work Commission, which threw out job security claims being pursued by unions and employees. Vanessas previous role as Chief Customer Officer of Qantas commenced in February 2018, with responsibilities spanning all aspects of the customer experience and strategy including digital, customer products including lounges and inflight as well as food and beverage. Our Business Integrity Compliance program is overseen by the Qantas Board, through the Qantas Audit Committee. Rob Marcolina joined Qantas in October 2012 as Executive Manager Strategy and has expanded his role over the past few years to now having responsibility for driving the overall strategy of the Qantas Group, leading the group wide transformation program and day-to-day responsibility for Qantas IT systems, and their ongoing efficiency and effectiveness. John Gissing was appointed as Group Executive, Associated Airlines and Services in March 2015. The occurrence of the above mentioned risks will have the following consequences in the event of their occurrence; The unmanageable increase in fuel prices may force the company to reduce its business operations(Thomas, 2014). Opens in new window. "Any one of those things on their ownisn't a big deal to deal with, but when you start adding them up all together, across multiple flights, that starts to become a concern for safety.". He has also been a press secretary and senior political adviser to various Australian political leaders and Ministers and worked as a journalist in newspapers and television in Australia, the US and UK. 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. No sponsorship is available at . As a company thats been around for 96 years, Qantas is used to looking at the big picture. With the right risk-management method, accompanied by diligent reviewing of your investments, we work to mitigate the risk to your retirement savings by minimizing exposure to market uncertainties and tempering the effects of inflation on your portfolio. Many of our employees donate their time and skills to good causes. So when we think about sustainability today, we define it in simple terms. In FY22, we updated this analysis to reference updated climate data, developments in the business, progress in technology and fuel availability as well as regulatory changes. To find out more about our diversity strategy and key focus areas, Tip Sheets give additional guidance on specific topics: Policy and Procedure . . What went in the back should have gone in the front. Responsible investment Our wealth businesses have Responsible Investment Policies I couldn't have scripted a better career.". <> Our Group training matrix identifies those employees who, due to the nature of their role, are required to complete anti-bribery and competition law training. ESG Risk Management We're always working to improve the way we deal with environmental, social and governance risk. Qantas has mapped its supplier industries and locations to help us assess the relative risk in our supply chain. Opens in new window, To read our CDP Climate Change disclosures, please visit the endobj Strong corporate governance sets the basis for the effective management of long-termrisks and opportunities, and positions the Qantas Group to create, protect and enhance shareholder value. For consumer brands especially, protecting value is also about maintaining a social licence to operate. %PDF-1.7 Risk management Observations. Qantas Group Management The CEO is responsible for the day-to-day management of the Qantas Group, with all powers, discretions and delegations authorised from time to time by the Board. The Group also supported critical government missions to repatriate Australians escaping civil unrest in Afghanistan, with 16 flights between Dubai and Australia. Under his leadership Qantas has implemented its biggest transformation since privatisation in 1995, renewed its fleet and technology, lifted customer satisfaction to record levels and expanded with new ventures and partnerships. 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. click here. Investors have been selling this fund manager's shares following the release of a disappointing half-year . And, above all, achieve the highest standards of safety and integrity. A risk is anything that could potentially impact your project's timeline, performance or budget. "We're expected to do basically the tasks that the Qantas ground services did, but with a lot less numbers and experience," said one worker from an outsourcedcompany used byQantas to manage ground-handling. Tino has significant experience in the Transport industry in both Commercial and Financial roles having worked for a number of Airlines. We test the strength of our culture through annual employee surveys and analysis of retention and turnover, using the insights to find out what's important to our employees and how we can improve in future. "As a result, we have a very high turnover rate that makes the already-bad situation even worse. Representing Australia at its best is what sets us apart - and our mission to advance Australian talent, ideas and values guides our community investment strategy. click here. However, it saysit requires fewer engineers than it had pre-COVID because maintenance requirements are much lower, with its 747-fleet retired and international capacity down. The role of CEO of Qantas Domestic and [] Read more 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. The Group Policies apply to Qantas Group entities and employees in line with the Group's Corporate Governance . Every employee and contractor is aware of risks to the business and their responsibility to manage those risks, and we encourage employees to highlight actual or potential concerns. As part of the analysis undertaken in FY22, we have begun to quantify the financial impacts of these scenarios on the business and will continue to develop our approach and incorporate into disclosures and decision making. )urWubOrG@jSaGL3TQVQd; zt LR*E%p5s0"{a6z ,6(}`uh9!>_F#>U jyYdQ'n'TR6E]Mh"R(g&KLytK)i[yjMi%\RoJERtpzMnin7}xgeI: /&'!GmU0yDfT2!E'rP[V&HMs`%P,R!N&32&i>&B*E* Olivia is also on the Board of UNICEF Australia. The Qantas Group is committed to ensuring the protection of all Disclosing Persons, information regarding the investigation process and the protections available to Disclosing Persons is available in the Policy. Since the dawn of the Jet Age, it has never suffered a fatal accident or lost an aeroplane hull, which is a credit to its staff and its leadership. 3 0 obj In the aeroplane cabin, flight attendants employed on "legacy" pay rates can work alongside employees on basic award pay from labour hire firms, and cabin crew employed by wholly-owned Qantas subsidiaries established to supply labour at cheaper rates.
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