DOCSLIB.ORG

June 2013 Brics and Mortar CONTENTS Ccording to the Latest Update to the IMF's World Economic Aoutlook in April the Two Speed Global Economy Is Fragmenting a Little

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
June 2013 Brics and Mortar CONTENTS Ccording to the Latest Update to the IMF's World Economic Aoutlook in April the Two Speed Global Economy Is Fragmenting a Little Aviation Strategy Issue No: 187/8 May/June 2013 BRICs and mortar CONTENTS ccording to the latest update to the IMF's World Economic AOutlook in April the two speed global economy is fragmenting a little. The august establishment suggests that there are real signs of recovery developing in the US (despite or even in spite of “sequestra - Analysis tion”), while the developing economies continue to provide the major engine of world economic growth, albeit at a slightly lower rate than World Economic Outlook updates recently. Europe continues to stagnate although the threats of a Euro 1-2 break-up may be dissipating. It suggests that we are now in a “three speed” environment. Brazil’s airlines: The update lowered the IMF's central forecasts. It expects that Azul and Avianca Brazil rise world real GDP will grow by only 3.3% in 2013, down slightly from its to challenge Gol-TAM duopoly forecast of 3.5% growth made six months ago - developing and emerg - 3-14 ing economies generating around 5% in both 2013 and 2014; the US growing by 1.9% this year but starting to accelerate to generate 3% Briefing growth in 2014; the Eurozone remaining in recession this year before returning to 1% economic growth in the next. The only area where the Singapore Airlines: group has raised its forecasts is for Japan; the impact of Abenomics Under pressure 15-20 allowing that economy to improve by around 1.5% in this and next year - figures up by 40bp from the last forecast update. The BRIC nations have taken a lot of attention in recent years as Databases 21-24 being the prime engine of global economic growth. The designator of that soubriquet, Jim O'Neill of Goldman Sachs, may soon be retiring and European, US and Asian there may be concerns that the growth rates in China, Brazil, India and airline traffic and financials Russia are under pressure, but as The Economist pointed out in a recent article, all these economies have been maturing - and as growth matures Regional trends growth rates decline. In particular there has been a global upheaval as India and China have moved to regain a share of the world economy Orders they last saw in the 17th Century; but after the sprint of a catch-up in the past three decades the rate of growth will naturally decline. The four main BRIC nations all saw a “tough” 2012 (in relative REAL GDP GROWTH 15 Russia India China 10 PUBLISHER 5 Aviation Economics 0 James House, 1st Floor 22/24, Corsham Street -5 Japan Brazil EU USA London N1 6DR Tel: +44 (0)20 7490 5215 -10 2007 2008 2009 2010 2011 2012 2013E 2014E 2015E Fax: +44 (0)20 7490 5218 Source: IMF email: [email protected] www.aviationeconomics.com Aviation Strategy Analysis terms), as their economies could not find DOMESTIC RPK GROWTH the markets for goods in 30% the stagnated western 25% world. Russia, as an ener - gy producer fared rea - 20% Brazil China sonably well with growth of 3.4% down from 4.3% 15% the year before and 10% China's growth only declined to 7.8% from 5% Aviation Strategy 9.3%; but India slumped is published 10 times a year by from 7.7% to a mere 4% 0% Aviation Economics growth and Brazil to 0.9% from 2.7%. They all -5% Publisher: India suffered relatively high -10% Keith McMullan inflation as energy, wage [email protected] and food price pressures -15% 2 1 3 2 1 2 2 3 1 1 1 1 1 1 1 1 1 1 t r l increased. r r t l n Contributing Editor: n c c p u p p u a a J J O A J J A O Heini Nuutinen Given that GDP is a A prime determinant of air Source: IATA Production Editor: traffic demand it is per - Julian Longin [email protected] haps remarkable that there has been a distinct the domestic industries had been overheating difference between them in aviation terms. with significant excess capacity driving down Subscriptions : China's domestic air traffic (including traffic yields at a time when fuel costs have been [email protected] between mainland China, Hong Kong, Macau really hurting. With the cuts in capacity - both Tel: +44 (0)20 7490 5215 and Taiwan) grew by 8.8% in RPK terms in voluntary and forced - the evidence suggests 2012 similar to its GDP growth and despite that yields and unit revenues are now rising Copyright: what seems to have been a small decline in strongly (GOL achieved a near 14% year on Aviation Economics yields. The wild variations in the monthly per - year increase in yields in the first quarter); but All rights reserved formance in the chart above relate to the inci - growth is restrained. dence of national holidays and the Chinese It is not just economic performance that will Aviation Economics New Year, but current growth rates appear decide the development of aviation; regulation Registered No: 2967706 (England) consistent. Russia's total air traffic in 2012 and politics play important parts. China grew by 15% year on year in passenger num - remains highly regulated - with its command Registered Office: bers (according to Aeroflot), while (according based communist economy and restrictions on James House, 1st Floor to IATA) domestic traffic in RPKs increased by personal freedoms. Russia, as a former com - 22/24 Corsham St just under 8% after similar growth rates in the mand-based communist economy retains London N1 6DR previous two years. many internally focussed restrictions. However, VAT No: 701780947 By contrast Brazilian and Indian growth it is investigating the idea of encouraging LCC ISSN 2041-4021 (Online) rates have dipped considerably; in both cases development to spur air travel demand and The opinions expressed in this publication do following several years of strong expansion. In appears to be looking to invite non-Russian air - not necessarily reflect the opinions of the edi - Brazil total domestic demand growth slipped lines to help. India also has a highly regulated tors, publisher or contributors. Every effort is made to ensure that the information con - to 7.9% in RPK terms from the double digit domestic industry but is now relaxing owner - tained in this publication is accurate, but no legal reponsibility is accepted for any errors rates of growth in previous years. Since the ship restrictions - with Tony Fernandes's Air or omissions. beginning of 2013 this has gone into negative Asia planning to move into the sub-continent to The contents of this publication, either in territory with both GOL and TAM cutting provide further disruption. Meanwhile in Brazil, whole or in part, may not be copied, stored or reproduced in any format, printed or elec - capacity dramatically - and in the first three the overheated local environment is succumb - tronic, without the written consent of the months domestic demand has fallen by 1.3%. ing to the realities of the consolidation that has publisher. In India, total domestic demand actually fell in taken place in the Mercosur. With the devel - 2012 by 2.2% in RPK terms according to IATA - oped world in stagnation is the aviation indus - in part due to the collapse of Kingfisher, but try relying too much on the developing world also in face of air fare increases. In both cases to provide the growth? May/June 2013 2 Aviation Strategy Analysis Brazil’s airlines: Azul and Avianca Brazil rise to challenge Gol-TAM duopoly he Brazilian aviation market has seen signif - entered the middle class and an additional Ticant change in the past year or so, as 16m entered the upper income classes. The C demand growth has weakened, an unprece - class included 102m people in 2010, more dented capacity discipline has taken hold and than half of Brazil’s 192m population. industry consolidation has reached new The Brazilian market was ripe for air travel heights. Faced with financial losses domestical - stimulation also because long-distance travel ly, the two leading airlines have been restruc - alternatives are limited. Brazil is geographical - turing operations and have adopted many new ly similar in size to the continental US, but it strategies. How are the four main players – has no interstate rail system and the road Gol, TAM (now part of Latam), Azul-TRIP and infrastructure is poor. Buses have traditional - Avianca Brazil – now positioned for the ly been the only low-cost option for long-dis - remainder of 2013 and for the longer term? Is tance travel, but that mode is extremely time- Azul, which filed for a global IPO in late May, on consuming. Tapping that segment with low the verge of becoming a “third force” in fares was the cornerstone of Gol’s strategy Brazilian aviation? Will Avianca Brazil bid for from the start (and a key theme later adopted Portugal’s TAP and also become a major player also by other Brazilian carriers). in Brazil? The growing middle-income segment, ris - The past year’s upheavals come in the ing incomes and increasing availability of low wake of a tumultuous decade in the Brazilian air fares led to a surge in air travel. Domestic airline industry. The 2000s witnessed the air passenger numbers in Brazil have arrival of Gol as Brazil’s first LCC to stimulate increased from 28m in 2000 to over 92m in and revolutionise air travel (2001), the demise 2012, overtaking the bus passenger volumes of old-timers such as Transbrasil, VASP and in 2009. Growth was especially strong in the Varig (the latter was acquired by Gol in 2007) 2005-2010 period, when industry domestic and TAM’s rapid emergence as Brazil’s flag car - RPKs doubled.
Load more

Recommended publications
  • Liste-Exploitants-Aeronefs.Pdf
    EN EN EN COMMISSION OF THE EUROPEAN COMMUNITIES Brussels, XXX C(2009) XXX final COMMISSION REGULATION (EC) No xxx/2009 of on the list of aircraft operators which performed an aviation activity listed in Annex I to Directive 2003/87/EC on or after 1 January 2006 specifying the administering Member State for each aircraft operator (Text with EEA relevance) EN EN COMMISSION REGULATION (EC) No xxx/2009 of on the list of aircraft operators which performed an aviation activity listed in Annex I to Directive 2003/87/EC on or after 1 January 2006 specifying the administering Member State for each aircraft operator (Text with EEA relevance) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, Having regard to Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a system for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC1, and in particular Article 18a(3)(a) thereof, Whereas: (1) Directive 2003/87/EC, as amended by Directive 2008/101/EC2, includes aviation activities within the scheme for greenhouse gas emission allowance trading within the Community (hereinafter the "Community scheme"). (2) In order to reduce the administrative burden on aircraft operators, Directive 2003/87/EC provides for one Member State to be responsible for each aircraft operator. Article 18a(1) and (2) of Directive 2003/87/EC contains the provisions governing the assignment of each aircraft operator to its administering Member State. The list of aircraft operators and their administering Member States (hereinafter "the list") should ensure that each operator knows which Member State it will be regulated by and that Member States are clear on which operators they should regulate.
    [Show full text]
  • Data Standards Manual Summary of Changes
    October 2019 Visa Public gfgfghfghdfghdfghdfghfghffgfghfghdfghfg This document is a supplement of the Visa Core Rules and Visa Product and Service Rules. In the event of any conflict between any content in this document, any document referenced herein, any exhibit to this document, or any communications concerning this document, and any content in the Visa Core Rules and Visa Product and Service Rules, the Visa Core Rules and Visa Product and Service Rules shall govern and control. Merchant Data Standards Manual Summary of Changes Visa Merchant Data Standards Manual – Summary of Changes for this Edition This is a global document and should be used by members in all Visa Regions. In this edition, details have been added to the descriptions of the following MCCs in order to facilitate easier merchant designation and classification: • MCC 5541 Service Stations with or without Ancillary Services has been updated to include all engine fuel types, not just automotive • MCC 5542 Automated Fuel Dispensers has been updated to include all engine fuel types, not just automotive • MCC 5812 Eating Places, Restaurants & 5814 Fast Food Restaurants have been updated to include greater detail in order to facilitate easier segmentation • MCC 5967 Direct Marketing – Inbound Telemarketing Merchants has been updated to include adult content • MCC 6540 Non-Financial Institutions – Stored Value Card Purchase/Load has been updated to clarify that it does not apply to Staged Digital Wallet Operators (SDWO) • MCC 8398 Charitable Social Service Organizations has
    [Show full text]
  • TPG Telecom Limited and Its Controlled Entities ABN 46 093 058 069
    TPG Telecom Limited and its controlled entities ABN 46 093 058 069 Annual Report Year ended 31 July 2016 2 TPG Telecom Limited and its controlled entities Annual report For the year ended 31 July 2016 Contents Page Chairman’s letter 3 Directors’ report 5 Lead auditor’s independence declaration 34 Consolidated income statement 35 Consolidated statement of comprehensive income 36 Consolidated statement of financial position 37 Consolidated statement of changes in equity 38 Consolidated statement of cash flows 39 Notes to the consolidated financial statements 40 Directors’ declaration 91 Independent auditor’s report 92 ASX additional information 94 3 TPG Telecom Limited and its controlled entities Chairman’s letter For the year ended 31 July 2016 Dear Shareholders On behalf of the Board of Directors, I am pleased to present to you the TPG Telecom Limited Annual Report for the financial year ended 31 July 2016 (“FY16”). Financial Performance FY16 was another successful year for the Group. Continued organic growth and the integration of iiNet into the business have resulted in further increases in revenue, profits and dividends for shareholders. FY16 represents the eighth consecutive year that this has been the case. A detailed review of the Group’s operating and financial performance for the year is provided in the Operating and Financial Review section of the Directors’ Report starting on page 7 of this Annual Report, and set out below are some of the key financial highlights and earnings attributable to shareholders from the year. FY16 FY15 Movement Revenue ($m) 2,387.8 1,270.6 +88% EBITDA ($m) 849.4 484.5 +75% NPAT ($m) 379.6 224.1 +69% EPS (cents/share) 45.3 28.2 +61% Dividends (cents/share) 14.5 11.5 +26% iiNet Acquisition At the beginning of FY16 we completed the acquisition of iiNet and consequently there has been significant focus during the year on integrating the businesses to improve the efficiency of the combined organisation.
    [Show full text]
  • Appendix 25 Box 31/3 Airline Codes
    March 2021 APPENDIX 25 BOX 31/3 AIRLINE CODES The information in this document is provided as a guide only and is not professional advice, including legal advice. It should not be assumed that the guidance is comprehensive or that it provides a definitive answer in every case. Appendix 25 - SAD Box 31/3 Airline Codes March 2021 Airline code Code description 000 ANTONOV DESIGN BUREAU 001 AMERICAN AIRLINES 005 CONTINENTAL AIRLINES 006 DELTA AIR LINES 012 NORTHWEST AIRLINES 014 AIR CANADA 015 TRANS WORLD AIRLINES 016 UNITED AIRLINES 018 CANADIAN AIRLINES INT 020 LUFTHANSA 023 FEDERAL EXPRESS CORP. (CARGO) 027 ALASKA AIRLINES 029 LINEAS AER DEL CARIBE (CARGO) 034 MILLON AIR (CARGO) 037 USAIR 042 VARIG BRAZILIAN AIRLINES 043 DRAGONAIR 044 AEROLINEAS ARGENTINAS 045 LAN-CHILE 046 LAV LINEA AERO VENEZOLANA 047 TAP AIR PORTUGAL 048 CYPRUS AIRWAYS 049 CRUZEIRO DO SUL 050 OLYMPIC AIRWAYS 051 LLOYD AEREO BOLIVIANO 053 AER LINGUS 055 ALITALIA 056 CYPRUS TURKISH AIRLINES 057 AIR FRANCE 058 INDIAN AIRLINES 060 FLIGHT WEST AIRLINES 061 AIR SEYCHELLES 062 DAN-AIR SERVICES 063 AIR CALEDONIE INTERNATIONAL 064 CSA CZECHOSLOVAK AIRLINES 065 SAUDI ARABIAN 066 NORONTAIR 067 AIR MOOREA 068 LAM-LINHAS AEREAS MOCAMBIQUE Page 2 of 19 Appendix 25 - SAD Box 31/3 Airline Codes March 2021 Airline code Code description 069 LAPA 070 SYRIAN ARAB AIRLINES 071 ETHIOPIAN AIRLINES 072 GULF AIR 073 IRAQI AIRWAYS 074 KLM ROYAL DUTCH AIRLINES 075 IBERIA 076 MIDDLE EAST AIRLINES 077 EGYPTAIR 078 AERO CALIFORNIA 079 PHILIPPINE AIRLINES 080 LOT POLISH AIRLINES 081 QANTAS AIRWAYS
    [Show full text]
  • Tiger Airways Holdings Limited
    tiger airways holdings limited 2q fy12-13 and 1h fy12-13 results quarter ended 30 september 2012 30 october 2012 Results Snapshot Revenue for the quarter grew 79%, driven by increased capacity, stronger yield, and higher load factor 2Q net loss narrowed to $18m on the back of higher revenue SGD‘m 2Q13 2Q12 Y-o-Y chg 1H13 1H12 Y-o-Y chg Revenue 197 110 79% 378 289 31% Expenses 208 151 38% 401 342 17% Operating Loss (11) (41) (72%) (23) (53) (56%) Loss After Tax (18) (50) (63%) (32) (70) (55%) Basic Loss Per Share (2.23) (8.64) (74%) (3.90) (12.21) (68%) 1 2Q13 Revenue Traffic (in RPK) increased 47.2%, from 1,760m (2Q12) to 2,591m (2Q13), mostly due to more flights flown by TT Yields (in RPKM) increased 21.2%, from 6.14 cents to 7.44 cents, mainly due to higher yield from TR 2 2Q13 Expenses Key operating statistics: ($’000) RPK increased 47.2% to 2,591 million y-o-y 86,039 Fuel Costs 56,145 ASK increased 42.1% to 3,126 million y-o-y 28,621 CASK fell 3.1% to 6.66 cents y-o-y Staff costs 24,249 21,548 Airport & handling 13,325 Maintenance, 20,743 material & repair 19,673 19,608 Aircraft rental 13,092 8,880 Route charges 4,271 8,128 Depreciation 7,950 14,588 Others 12,410 0 20,000 40,000 60,000 80,000100,000 2Q13 2Q12 3 Operating Statistics Number of passengers and traffic (RPK) trending upwards since Australia suspension in 2Q12 2,600 2,525 2,591 2,200 2,349 2,104 2,105 1,800 1,774 1,760 1,400 1,640 1,430 1,290 1,304 1,000 1,096 600 200 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 Pax No.
    [Show full text]
  • Tiger Airways Holdings (Singapore): Constituent Deletion Changes in FTSE ST Index Series
    CHANGE NOTIFICATION: Please be aware that we are making a change to the technical notices pages on our website. As of 25 February 2016 the full content of our technical notices will no longer be freely accessible to non - subscribing clients, and will put behind registration. We will continue to publish a cut-down version of the technical notice on our website, and the full technical notice for index methodology changes will continue to be made freely available. If you are a subscribing client and would like to continue to have access to the full versions of the technical notices online, please register here for a password. If you would like to speak to a FTSE Russell representative about a new subscription, please contact us at [email protected]. Tiger Airways Holdings (Singapore): Constituent Deletion Changes in FTSE ST Index Series 10 February 2016 Following the unconditional cash tender offer of Tiger Airways Holdings (Singapore, constituent) by Singapore Airlines (Singapore, constituent) with the offer acceptance level reaching more than 90%, in conjunction with the section 2.8 Mergers, Acquisitions and Tender Offers in the FTSE Corporate Actions and Events Guide, FTSE, SGX and SPH announce the following changes: Effective From Index Start of Trading FTSE ST Small Cap Index 15 February 2016 FTSE ST All-Share Index 15 February 2016 For further information or general enquiries please contact us at [email protected] or call: Client Services in UK: Tel: +44 (0) 20 7866 1810 Client Services in EMEA: Tel: +44 (0) 20 7866 1810 Client Services in US: New York: (Domestic) + 1 888 747 FTSE (3873) / (International): +1 212 314 1139 Client Services in Asia Pacific: Hong Kong: + 852 2164 3333 Australia:(Domestic Toll-Free) + 1800 653 680 / (International) + 61 (2) 9293 2864 Japan + 81 (3) 3581 2764 Alternatively please visit our website at www.ftse.com Terms of Use | Copyright © FTSE .
    [Show full text]
  • Approved Securities List
    APPROVED SECURITIES LIST DOMESTIC SECURITIES 23 November 2019 The inclusion of a security on our approval list is not advice and is not a recommendation. We change ratios at any time without prior notice to you. Security Description Gearing Managed Funds Ratio We lend between 50% and 70% against most managed funds. APT AFTERPAY TOUCH GROUP LIMITED 40 % Please contact your Account Manager if you wish to discuss a particular fund. APX APPEN LIMITED 40 % Listed Securities ARB ARB CORPORATION LIMITED. 60 % ARG ARGO INVESTMENTS LIMITED 75 % Security Description Gearing ARQ ARQ GROUP LIMITED 50 % Ratio ASB AUSTAL LIMITED 50 % 3PL 3P LEARNING LIMITED.. 40 % AST AUSNET SERVICES LIMITED 65 % A2B A2B AUSTRALIA LIMITED 50 % ASX ASX LIMITED 70 % A2M THE A2 MILK COMPANY LIMITED NZ 40 % AUB AUB GROUP LIMITED 40 % AAC AUSTRALIAN AGRICULTURAL COMPANY 50 % AVJ AVJENNINGS LIMITED 40 % LIMITED. AWC ALUMINA LIMITED 70 % ABA AUSWIDE BANK LTD 40 % AX1 ACCENT GROUP LIMITED 50 % ABC ADELAIDE BRIGHTON LIMITED 65 % AYS AMAYSIM AUSTRALIA LIMITED 50 % ABP ABACUS PROPERTY GROUP STAPLED 50 % AZJ AURIZON HOLDINGS LIMITED 70 % ADH ADAIRS LIMITED 40 % BAP BAPCOR LIMITED 60 % AFI AUSTRALIAN FOUNDATION INVESTMENT 75 % COMPANY LIMITED BBN BABY BUNTING GROUP LIMITED 50 % AGI AINSWORTH GAME TECHNOLOGY LIMITED 55 % BEN BENDIGO AND ADELAIDE BANK LIMITED 70 % AGL AGL ENERGY LIMITED. 70 % BENPE BENDIGO AND ADELAIDE BANK LIMITED 70 % LPYR6UT AHG AUTOMOTIVE HOLDINGS GROUP LIMITED. 50 % BENPF BENDIGO AND ADELAIDE BANK LIMITED 70 % AHY ASALEO CARE LIMITED 65 % LPYR6UT AIA AUCKLAND INTERNATIONAL AIRPORT LIMITED 70 % BENPG BENDIGO AND ADELAIDE BANK LIMITED 70 % NZX LPYR3UT ALF AUSTRALIAN LEADERS FUND LIMITED 50 % BGA BEGA CHEESE LIMITED 60 % ALG ARDENT LEISURE GROUP LIMITED 55 % BHP BHP GROUP LIMITED 75 % ALI ARGO GLOBAL LISTED INFRASTRUCTURE 60 % BIN BINGO INDUSTRIES LIMITED 50 % LIMITED BKL BLACKMORES LIMITED 60 % ALL ARISTOCRAT LEISURE LIMITED 70 % BKW BRICKWORKS LIMITED 60 % ALQ ALS LIMITED 65 % BLD BORAL LIMITED.
    [Show full text]
  • Quarterly Investment Update Antares High Growth Shares Fund – June 2021
    Quarterly Investment Update Antares High Growth Shares Fund – June 2021 For adviser use only Highlights for the quarter Performance: The Fund returned 9.6% (net of fees) for the June quarter, outperforming its benchmark by 1.3%. Contributors to performance: Positive contributors – Aristocrat Leisure, Telix Pharmaceuticals, Megaport, Boral, Woodside (not owned); Negative contributors – Incitec Pivot, Qantas, ANZ, Resmed (not owned) and Altium (not owned). Stock activity: Buys/additions – Ansell, Downer and TPG Telecom ; Sells/reductions – BlueScope Steel, Boral, Endeavour Group and Worley Fund snapshot Inception date 7 December 1999 Benchmark S&P/ASX 200 Total Return Index To outperform the benchmark (after fees) over rolling Investment objective 5-year periods Investment returns as at 30 June 20211 Period 3 months 1 year 3 years pa 5 years pa 10 years pa Since inception pa Net return2 % 9.6 39.9 9.2 12.6 10.0 11.0 Gross return3 % 9.9 41.9 10.5 13.9 11.2 12.5 Benchmark return % 8.3 27.8 9.6 11.2 9.3 8.5 Net excess return % 1.3 12.1 -0.4 1.4 0.7 2.5 Gross excess return % 1.6 14.1 0.9 2.7 1.9 4.0 1 Past performance is not a reliable indicator of future performance. Returns are not guaranteed and actual returns may vary from any target returns described in this document. 2 Investment returns are based on exit prices, and are net of management fees and assume reinvestment of all distributions. Contributors to performance Pleasingly the Fund enjoyed another strong quarter, returning 9.6% (net of fees) vs the benchmark return of 8.3%.
    [Show full text]
  • Bringing the Future Faster
    6mm hinge Bringing the future faster. Annual Report 2019 WorldReginfo - 7329578e-d26a-4187-bd38-e4ce747199c1 Bringing the future faster Spark New Zealand Annual Report 2019 Bringing the future faster Contents Build customer intimacy We need to understand BRINGING THE FUTURE FASTER and anticipate the needs of New Zealanders, and Spark performance snapshot 4 technology enables us Chair and CEO review 6 to apply these insights Our purpose and strategy 10 to every interaction, Our performance 12 helping us serve our Our customers 14 customers better. Our products and technology 18 Read more pages 7 and 14. Our people 20 Our environmental impact 22 Our community involvement 24 Our Board 26 Our Leadership Squad 30 Our governance and risk management 32 Our suppliers 33 Leadership and Board remuneration 34 FINANCIAL STATEMENTS Financial statements 38 Notes to the financial statements 44 Independent auditor’s report 90 OTHER INFORMATION Corporate governance disclosures 95 Managing risk framework roles and 106 responsibilities Materiality assessment 107 Stakeholder engagement 108 Global Reporting Initiative (GRI) content 109 index Glossary 112 Contact details 113 This report is dated 21 August 2019 and is signed on behalf of the Board of Spark New Zealand Limited by Justine Smyth, Chair and Charles Sitch, Chair, Audit and Risk Management Committee. Justine Smyth Key Dates Annual Meeting 7 November 2019 Chair FY20 half-year results announcement 19 February 2020 FY20 year-end results announcement 26 August 2020 Charles Sitch Chair Audit and Risk Management Committee WorldReginfo - 7329578e-d26a-4187-bd38-e4ce747199c1 Create New Zealand’s premier sports streaming business Spark Sport is revolutionising how New Zealanders watch their favourite sports events.
    [Show full text]
  • Tigerair Compensation Policy
    Compensation Policy Due to the current unprecedented situation regarding COVID-19 (coronavirus),your right to obtain a refund or compensation in respect of flight cancellations may be impacted during this time. We have created dedicated a page to let you know how we can assist you during this time. You can access the page here. The ACCC has also published some information for consumers about COVID-19 (coronavirus). You can read this here. Our compensation policy contains everything you need to know if your flight is delayed or cancelled, and the assistance we provide in these circumstances. 1.Purpose of this policy Our priority as a business is to get you to your destination safely and on time, having experienced our exceptional service. The safety of our passengers and crew is our paramount concern. The nature of flying is unpredictable, and there are many factors involved in getting a flight safely into the air, some of which are within our control but some which are outside of our control. For these reasons, there are occasions when we need to make changes to our flight schedules. Our schedules and flight times are estimates; we do not guarantee schedules or flight times and they do not form part of your contract with us. This Policy sets out the compensation and assistance we will provide to you where your flight has been delayed or cancelled. You may also have additional rights (including under the Consumer Guarantees in the Australian Consumer Law, for example) where your flight is delayed or cancelled and we cannot accommodate you on to a new service within a reasonable time.
    [Show full text]
  • Distribuição De Processos Para Relatoria
    LISTA DE DISTRIBUIÇÃO DE PROCESSOS PARA RELATORIA PROCESSO INTERESSADO ASSUNTO RELATOR SORTEADO DATA DIST. DATA DELIB. Mato Grosso do Sul Táxi Aéreo 618.249/08-6 Parcelamento de débito inscrito em Dívida Ativa. Alexandre Gomes de Barros 25.08.09 15.09.09 Ltda. 616.591/08-5 Cruiser Linhas Aéreas Ltda. Parcelamento de débito inscrito em Dívida Ativa. Solange Paiva Vieira 25.08.09 22.09.09 Marcelo Pacheco dos 617.362/08-4 Aerocessna Táxi Aéreo Ltda. Parcelamento de débito inscrito em Dívida Ativa. 25.09.09 27.10.09 Guaranys 60800.062959/2009-91 Trip Linhas Aéreas S.A. Recurso. Cláudio Passos Simão 23.10.09 10.11.09 Marcelo Pacheco dos 60800.068400/2008-94 Servidor da ANAC Recurso. 27.10.09 02.02.10 Guaranys 613.912/06-4 TAM Linhas Aéreas S.A. Recurso. Alexandre Gomes de Barros 30.11.09 15.12.09 TRIP Linhas Aéreas S.A. e 60800.047370/2009-63 Recursos. Solange Paiva Vieira 01.02.10 02.02.10 Pantanal Linhas Aéreas S.A. Varig S.A. - Viação Aérea Rio 613.700/06-8 Recurso. Cláudio Passos Simão 31.03.10 17.08.10 Grandense 25.06.10 Ad ref 60800.000513/2010-15 TAM Linhas Aéreas S.A. Recurso. Solange Paiva Vieira 27.05.10 17.08.10** Pantanal Linhas Aéreas S.A. – em 60800.047370/2009-63 Recurso. Cláudio Passos Simão 30.06.10 09.11.10 Recuperação Judicial 02.02.10 - AP 60800.079818/2009-16 SSO Edição do RBAC 135. Solange Paiva Vieira 17.08.10 24.08.10 24.08.10 - AP 60800.014272/2010-83 SSO Edição do RBAC 129.
    [Show full text]
  • Panorama Do Setor De Transporte Aéreo No Brasil
    UNIVERSIDADE ESTADUAL DE CAMPINAS FACULDADE DE CIÊNCIAS APLICADAS VINICIUS MALMONGE ARAÚJO GONÇALVES PANORAMA DO SETOR DE TRANSPORTE AÉREO NO BRASIL Oferta e Demanda No Mercado Aeronautico Limeira 2016 UNIVERSIDADE ESTADUAL DE CAMPINAS FACULDADE DE CIÊNCIAS APLICADAS VINICIUS MALMONGE ARAÚJO GONÇALVES PANORAMA DO SETOR DE TRANSPORTE AÉREO NO BRASIL Trabalho de Conclusão de Curso apresentado como requisito parcial para a obtenção do título de Bacharel em [nome do curso] à Faculdade de Ciências Aplicadas da Universidade Estadual de Campinas. Orientador: Prof. Dr. Prof° Dr° Marcos José Barbieri Ferreira Limeira 2016 Ficha catalográfica Universidade Estadual de Campinas Biblioteca da Faculdade de Ciências Aplicadas Renata Eleuterio da Silva - CRB 8/9281 Gonçalves, Vinícius Malmonge Araújo, 1993- G586p GonPanorama do setor de transporte aéreo no Brasil / Vinicius Malmonge Araújo Gonçalves. – Limeira, SP : [s.n.], 2016. GonOrientador: Marcos José Barbieri Ferreira. GonTrabalho de Conclusão de Curso (graduação) – Universidade Estadual de Campinas, Faculdade de Ciências Aplicadas. Gon1. Aeronáutica comercial. 2. Aviões de transporte. 3. Linhas aéreas. I. Ferreira, Marcos José Barbieri,1968-. II. Universidade Estadual de Campinas. Faculdade de Ciências Aplicadas. III. Título. Informações adicionais, complementares Palavras-chave em inglês: Commercial aeronautics Transport planes Airlines Titulação: Bacharel em Gestão de Empresas Banca examinadora: Edgar Barassa Data de entrega do trabalho definitivo: 12-07-2016 Powered by TCPDF (www.tcpdf.org) Agradecimentos A Deus, que é o maior mestre que podemos conhecer; À minha família, base e porto seguro que permitiu o alcance deste importante feito na minha vida; Meus amigos e aqueles que me ajudaram na criação deste trabalho. GONÇALVES, Vinicius Malmonge Araújo. Panorama Do Setor de Transporte Aéreo no Brasil.
    [Show full text]