DOCSLIB.ORG

JLT Presentation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
JLT Presentation INVESTMENT IN SAFETY LONG TERM GAINS FOR AIRLINES IASS 2018 Eduardo Dueri | Managing Director JLT Aerospace Latin America & Caribbean Global Aerospace Consulting Services MAJOR AIRLINE LOSSES 3 YEAR MARKET POSITION GLOBAL AIRLINE PREMIUM AND CLAIMS AIRLINE LOSSES - 2017 $2,000 Loss Date Operator Aircraft Type Fatalities $1,800 Insurers continue to lose money. 03/01/17 Aeroflot Airlines A321-211 - 16/01/17 ACT Airlines B747-400F 39 $1,600 28/01/17 AerCaribe B737-400 - 14/03/17 BahamasAir ATR-72-600 - $1,400 28/03/17 Peruvian Airlines B737-300 - 31/05/17 Sriwijaya Air B737-300 - $1,200 03/07/17 AirAsia X A330-300 - 18/07/17 Tri-MG Airlines B737-301F - $1,000 03/08/17 Wings Air ATR72-500 - 03/08/17 Lion Air B737-900ER - USD USD Millions $800 30/09/17 Air France A380-800 - 29/11/17 Singapore Airlines 777-200 - 08/12/17 Qatar Airways A321-231 - $600 13/12/17 West Wind Aviation ATR42-320 - Based on airline incidents involving loss of life, total loss, CTL or a significant Hull claim. $400 Source: Information collated from publicly available online sources. $200 Few major airline losses - zero passenger $0 fatalities from commercial jet flights in 2017. 2015 2016 2017 Premium Claims 3 Year Average Premium 3 Year Average Claims However attritional losses were frequent and costly and continue to erode profits. Figures are on calendar year basis, excludes Hull War. Source: FlightGlobal data. JLT SPECIALTY LIMITED ALL COMMENTS AND INFORMATION BASED ON JLT SPECIALTY’S ASSESSMENT OF THE MARKET. 2 MAJOR AIRLINE LOSSES 2018 YEAR TO DATE AIRLINE LOSSES - 2018 AIRLINE FATAL ACCIDENTS VS. FATALITIES 450 16 Loss Date Operator Aircraft Type Fatalities 05/01/18 Sunwing Airlines B737-800 - 400 14 13/01/18 Pegasus Airlines B737-800 - 350 11/02/18 Saratov Airlines AN-148-100B 71 12 18/02/18 Iran Aseman Airlines ATR 72-212 66 12/03/18 US-Bangla Airlines DHC-8-Q400 51 300 17/04/18 Southwest Airlines B737-700 1 10 29/04/18 Lion Air B737-800 - 250 18/05/18 Global Air B737-200 112 8 11/06/18 Lufthansa A340-300 - 200 14/06/18 LinkPNG DHC-8-Q200 - 6 Numberof Fatalities 31/07/18 Aeroméxico Connect ERJ-190AR - 150 Numberof Fatal Accidents 10/08/18 Horizon Air DHC-8-400 1 4 01/09/18 UTAir B737-800 - 100 50 2 Based on airline incidents involving loss of life, and or are a total loss, CTL or are estimated will lead to a significant hull claim (includes hull war) (excludes GA type aircraft). Source: Information collated from publicly available online sources. 0 - 2014 2015 2016 2017 2018 YTD Six fatal airline losses to date, which account No. of Fatalities No. of Fatal accidents for some 302 fatalities *Figures are on a calendar year basis and are shown only as a guide. They include commercially operated jet or turboprop aircraft of more than 14 passenger seats or their cargo equivalent. Source: JLT and FlightGlobal data. JLT SPECIALTY LIMITED ALL COMMENTS AND INFORMATION BASED ON JLT SPECIALTY’S ASSESSMENT OF THE MARKET. 3 HULL & LIABILITY MARKET TREND GLOBAL AIRLINE PREMIUM AND RATES - CURRENT POSITION Global Airline Premium and Rates $2,000 0.25 Rates had been on a long-term Premium Rates downwards trend and market $1,800 conditions were soft $1,600 0.2 $1,400 ) $1,200 0.15 USDm However, 2017 saw a flattening $1,000 out of rates and a push to Rates Premium Premium ( $800 0.1 increase premiums $600 $400 0.05 Aircraft values and liability awards continue to rise. $200 2018 is now seeing an uptick in this position and the market $- 0 2012 2013 2014 2015 2016 2017 2018 (H1) Forecast remains challenging Source: Information is based on JLT/ Flightglobal data and is for indication purposes only. JLT SPECIALTY LIMITED ALL COMMENTS AND INFORMATION BASED ON JLT SPECIALTY’S ASSESSMENT OF THE MARKET. 4 HULL & LIABILITY MARKET TREND A THREE-TIER MARKET - AVERAGE RATE CHANGE Despite limited major renewal activity, year to date analysis shows rates trending upwards over 2017. 25.0% 2017 (Annual) 2018 (H1) 20.0% Subject to ‘as before’ rates Achieving ‘as 15.0% or modest before’ rates rate or small rate increases. 10.0% reductions with exposure growth. 5.0% 0.0% Weighted Average Weighted Average Rate Change (%) -5.0% Subject to rate increases. -10.0% -15.0% Tier A Tier B Tier C Excludes anomalies. Source: Information is based on a combination of JLT and Flightglobal data and market knowledge and is for indication purposes only. JLT SPECIALTY LIMITED ALL COMMENTS AND INFORMATION BASED ON JLT SPECIALTY’S ASSESSMENT OF THE MARKET. 5 How Important is Investment in Safety? More aircraft take-off today, with more passengers than ever before Top* Aviation Markets Departures v/s Average Occupancy Identifying ‘Top’ Aviation Markets 35.0 140 30.0 120 114 110 25.0 107 100 103 100 96 93 91 20.0 80 • Across the metrics of total number of departures, and the total numbers of passengers, 29 key markets can be 15.0 29.7 30.4 60 28.5 identified as ‘Top’ aviation markets. 26.4 26.8 27.5 25.2 26.0 • These markets accounted for 90% of the 10.0 40 global passengers carried and 85% of the global departure points in 2017 5.0 20 • In alphabetical order, these markets are: Australia, Brazil, Canada, Colombia, France, Germany, Hong Kong, India, Indonesia, 0.0 0 Ireland, Italy, Japan, Korea Republic, 2010 2011 2012 2013 2014 2015 2016 2017 Malaysia, Mexico, Netherlands, Philippines, Russia, and Saudi Arabia, Singapore, Spain, Number of Departures by Registered Carriers (Mn) (LHS) Switzerland, Thailand, Turkey, UAE, UK, Average Number of Passengers per Departing Aircraft (RHS) USA, and Vietnam JLT SPECIALTY LIMITED | AEROSPACE 6 SOURCES: WORLD BANK, JLT AEROSPACE ANALYTICS Financial Benefits of Safety Investments are Visible Loss Ratios continue to slide down. Claims per Dollar Premium (USD) in Major Aviation Markets (De-facto Industry Loss Ratio) As a result of better aircraft, and robust investments into safety, the reduction in insurance premium rates has always been followed closely by reducing claims. 2.41 0.97 0.93 0.94 0.81 0.73 0.68 0.68 0.62 0.59 0.58 0.53 0.56 0.52 0.47 0.55 0.56 0.51 0.50 0.48 0.48 0.52 0.44 0.41 0.36 0.21 0.14 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 JLT SPECIALTY LIMITED | AEROSPACE 7 SOURCES: AXCO, JLT AEROSPACE ANALYTICS Hidden Cost of Accidents and Incidents Direct Costs (Tip of Iceberg) Indirect Costs (4X to 36X Direct Cost) • Loss of profit • Aircraft availability • Non-company employees at the site • External experts and investigators • Employee overtime • Supervisor’s time working on the accident • Lost productivity • Cost of new hire and training • Increased insurance excess • Increased insurance premiums • Loss of spare parts inventory • Legal fees • Government citations • Government operating restrictions • Loss of brand value and corporate reputation JLT SPECIALTY LIMITED | AEROSPACE 8 Moving Beyond Insurance An Aviation Safety Management System will have multiple business benefits • Better safety culture • Better health and safety in the workplace • Improved safety in operational • Better teamwork practices and safety environment culture • Better compliance results • Reduced lost time due to workplace • Fewer accidents/incidents accidents and absenteeism • Improved controls and • Reduced employee turnover documentation Investment in Aviation • Ability to reach higher product Safety • Better reputation among consumers standards Management and media • Better quality control • Higher sales volumes • Well rounded and comprehensive • More trust with investors productivity • Better stability • Better ability to meet challenges (for • Better long term decision making example: high volume traffic season) • Better long term planning ability • Higher business reputation, resulting in more business (net worth of an airline can decrease by as much as 25% after an accident) • Reduced costs of equipment, legal fees, damage claims, fines, payroll, and others • Lower insurance premiums • Reduced worker’s compensation costs (companies have observed up to 92% fall in their workers’ compensation costs over a decade, after implementing a comprehensive safety management system) JLT SPECIALTY LIMITED | AEROSPACE 9 CONTACT INFORMATION Eduardo Dueri Managing Director, JLT Aerospace Latin America +571 600 4000 249 [email protected] Ayush Malpani Assistant Manager, Strategic Research, Aerospace +91 022 4274 3032 [email protected] JLT Specialty Limited The St Botolph Building 138 Houndsditch London EC3A 7AW Tel: +44 (0)20 7528 4444 www.jlt.com Lloyd’s Broker. Authorised and regulated by the Financial Conduct Authority. This marketing literature is compiled for the benefit of clients and prospective clients of JLT Specialty Limited (“JLT”). It is not legal advice and is intended only to highlight general issues relating to its subject matter; it does not necessarily deal with every aspect of the topic. Views and opinions expressed in this document are those of JLT unless specifically stated otherwise. Whilst every effort has been made to ensure the accuracy of the content of this document, no JLT entity accepts any responsibility for any error, or omission or deficiency. If you intend to take any action or make any decision on the basis of the content of this document, you should first seek specific professional advice. The information contained within this document may not be reproduced and nothing herein shall be construed as conferring to you by implication or otherwise any licence or right to use any JLT intellectual property. If you are interested in utilising the services of JLT you may be required by/under your local regulatory regime to utilise the services of a local insurance intermediary in your territory to export insurance and (re)insurance to us unless you have an exemption and should take advice in this regard.
Load more

Recommended publications
  • IATA CLEARING HOUSE PAGE 1 of 21 2021-09-08 14:22 EST Member List Report
    IATA CLEARING HOUSE PAGE 1 OF 21 2021-09-08 14:22 EST Member List Report AGREEMENT : Standard PERIOD: P01 September 2021 MEMBER CODE MEMBER NAME ZONE STATUS CATEGORY XB-B72 "INTERAVIA" LIMITED LIABILITY COMPANY B Live Associate Member FV-195 "ROSSIYA AIRLINES" JSC D Live IATA Airline 2I-681 21 AIR LLC C Live ACH XD-A39 617436 BC LTD DBA FREIGHTLINK EXPRESS C Live ACH 4O-837 ABC AEROLINEAS S.A. DE C.V. B Suspended Non-IATA Airline M3-549 ABSA - AEROLINHAS BRASILEIRAS S.A. C Live ACH XB-B11 ACCELYA AMERICA B Live Associate Member XB-B81 ACCELYA FRANCE S.A.S D Live Associate Member XB-B05 ACCELYA MIDDLE EAST FZE B Live Associate Member XB-B40 ACCELYA SOLUTIONS AMERICAS INC B Live Associate Member XB-B52 ACCELYA SOLUTIONS INDIA LTD. D Live Associate Member XB-B28 ACCELYA SOLUTIONS UK LIMITED A Live Associate Member XB-B70 ACCELYA UK LIMITED A Live Associate Member XB-B86 ACCELYA WORLD, S.L.U D Live Associate Member 9B-450 ACCESRAIL AND PARTNER RAILWAYS D Live Associate Member XB-280 ACCOUNTING CENTRE OF CHINA AVIATION B Live Associate Member XB-M30 ACNA D Live Associate Member XB-B31 ADB SAFEGATE AIRPORT SYSTEMS UK LTD. A Live Associate Member JP-165 ADRIA AIRWAYS D.O.O. D Suspended Non-IATA Airline A3-390 AEGEAN AIRLINES S.A. D Live IATA Airline KH-687 AEKO KULA LLC C Live ACH EI-053 AER LINGUS LIMITED B Live IATA Airline XB-B74 AERCAP HOLDINGS NV B Live Associate Member 7T-144 AERO EXPRESS DEL ECUADOR - TRANS AM B Live Non-IATA Airline XB-B13 AERO INDUSTRIAL SALES COMPANY B Live Associate Member P5-845 AERO REPUBLICA S.A.
    [Show full text]
  • 1 Tanggung Jawab Pengangkut Terhadap Penumpang Yang Tidak Terdaftar Dalam Manifes (Studi Kasus Jatuhnya Pesawat Lion Air Jt
    Abimanyu Faiz Prajogo & H. K. Martono TANGGUNG JAWAB PENGANGKUT TERHADAP PENUMPANG YANG TIDAK TERDAFTAR DALAM MANIFES (STUDI KASUS JATUHNYA PESAWAT LION AIR JT 610 DI KARAWANG) Volume 2 Nomor 2, Desember 2019 E-ISSN : 2655-7347 TANGGUNG JAWAB PENGANGKUT TERHADAP PENUMPANG YANG TIDAK TERDAFTAR DALAM MANIFES (STUDI KASUS JATUHNYA PESAWAT LION AIR JT 610 DI KARAWANG) Abimanyu Faiz Prajogo (Mahasiswa Program S1 Fakultas Hukum Universitas Tarumanagara) [email protected] Prof. Dr. H.K. Martono, S.H., L.L.M. (Corresponding Author) (Dosen Fakultas Hukum Universitas Tarumanagara, Meraih Sarjana Hukum pada Fakultas Hukum Universitas Universitas Indonesia) (E-mail: [email protected]) Abstract Lion Air with fligh code JT-610 route Jakarta to Pangkal Pinang on October 29th, 2028 which crashed in Karawang Waters carrying 178 passengers, one child passenger, 2 babies, and 7 cabin crew. On the plane there are passengers who are not on the ticket or not registered. Issues issued are how the responsibility of the carrier in an aircraft accident that is not listed in the passenger manifest. The research method used in this thesis research is normative legal research. The results of the research prove that passengers who are not in the manifest may receive compensation, but only compensate for voluntary purchases. It may be possible to request ex gratia or voluntarily to buy a passenger ticket that cannot be ordered in the passenger manifest. However, based on information compiled from PT Jasa Raharja, checking the heirs or families of victims of the crash of the Lion Air JT 610 aircraft which were not equipped in the manifest of the aircraft could still receive compensation.
    [Show full text]
  • Laws and Regulations: Air Transportation of Persons with Disabilities (PWD) and Others in Indonesia
    International Journal of Humanities and Social Science Invention ISSN (Online): 2319 – 7722, ISSN (Print): 2319 – 7714 www.ijhssi.org ||Volume 6 Issue 11||November. 2017 || PP.50-63 Laws and Regulations: Air Transportation of Persons with Disabilities (PWD) and Others in Indonesia Christine K,1 Frans Kurniawan,2 and Martono3 Abstract: This article purported to explore laws and regulations on air transportation of persons with disabilities (PWD) and others in Indonesia. It consist of three chapter namely chapter one regarding legal ground such as the United Nations (UN), Act No. 13 Year 1998, Act No. 39 Year 1999, high light of Act No. 39 Year 1999, PWD related to Chicago Convention of 1944, PWD in the ICAO Doc.9984, legal ground of PWD in the Civil Aviation Act of 2009; chapter two regarding air transportation of PWD and others provides Citilink’s COC includes the use of electronic ticket, cancellation and refund of E-ticket, legal liability, carrying PWD; Garuda Indonesia’s COC includes the right to refuse carriage, special assistance, passenger with illnesses and PWD, travel with a companion, special assistance for prisoners; Indonesian AirAsia’s COC includes PWD, passenger with a companion, passengers with a medical condition /illnesses, unaccompanied child, pregnant women, infants 8 days and/or below, the right to refuse and others; Lion Air’s COC includes PWD, the right to refuse; Sriwijaya Air’s COC includes the right to deny carriage and other; chapter three conclusion and recommendation. Keywords: persons with disabilities. air transportation, condition of carriage ----------------------------------------------------------------------------------------------------------------- ---------------------- Date of Submission: 18-11-2017 Date of acceptance: 30-11-2017 --------------------------------------------------------------------------------------------------------------------------------------- I.
    [Show full text]
  • MIDRMA Board/13-WP/6 3/03/2014 International Civil Aviation
    MIDRMA Board/13-WP/6 3/03/2014 International Civil Aviation Organization Middle East Regional Monitoring Agency Board Thirteenth Meeting (MIDRMA Board/13) (Bahrain, 9 –12 March 2014) Agenda Item 4: RVSM Monitoring and Related Technical Issues MID STATES MINIMUM MONITORING REQUIREMENTS (Presented by MIDRMA) SUMMARY The aim of this working paper is to address the RVSM Minimum Monitoring Requirements (MMR) applicable for each MIDRMA Member State. Action by the meeting is at paragraph 3. REFERENCES − ATM/AIM/SAR SG/13 Report − ICAO Doc 9547 − ICAO doc 9937 − ICAO Annex 6 Part I − MIDANPIRG/14 Report − MID RVSM SMR 2012-2013 1. INTRODUCTION 1.1 The height-keeping performance of aircraft is a key element in ensuring the safe operations of RVSM airspace. The RVSM height monitoring standards are considered the minimum requirement needed to maintain the safety of operations in the RVSM designated airspace. 1.2 Upon changes to ICAO Annex 6, Operation of Aircraft, Parts I & II, applicable on 18 November 2010, the following standard was adopted by the International Civil Aviation Organization (ICAO): 7.2.7 The State of the Operator that has issued an RVSM approval to an operator shall establish a requirement which ensures that a minimum of two aeroplanes of each aircraft type grouping of the operator have their height-keeping performance monitored, at least once every two years or within intervals of 1000 flight hours per aeroplane, whichever period is longer. If an operator aircraft type grouping consists of a single aeroplane, monitoring of that aeroplane shall be accomplished within the specified period.
    [Show full text]
  • Remote ID NPRM Maps out UAS Airspace Integration Plans by Charles Alcock
    PUBLICATIONS Vol.49 | No.2 $9.00 FEBRUARY 2020 | ainonline.com « Joby Aviation’s S4 eVTOL aircraft took a leap forward in the race to launch commercial service with a January 15 announcement of $590 million in new investment from a group led by Japanese car maker Toyota. Joby says it will have the piloted S4 flying as part of the Uber Air air taxi network in early adopter cities before the end of 2023, but it will surely take far longer to get clearance for autonomous eVTOL operations. (Full story on page 8) People HAI’s new president takes the reins page 14 Safety 2019 was a bad year for Part 91 page 12 Part 135 FAA has stern words for BlackBird page 22 Remote ID NPRM maps out UAS airspace integration plans by Charles Alcock Stakeholders have until March 2 to com- in planned urban air mobility applications. Read Our SPECIAL REPORT ment on proposed rules intended to provide The final rule resulting from NPRM FAA- a framework for integrating unmanned air- 2019-100 is expected to require remote craft systems (UAS) into the U.S. National identification for the majority of UAS, with Airspace System. On New Year’s Eve, the exceptions to be made for some amateur- EFB Hardware Federal Aviation Administration (FAA) pub- built UAS, aircraft operated by the U.S. gov- When it comes to electronic flight lished its long-awaited notice of proposed ernment, and UAS weighing less than 0.55 bags, (EFBs), most attention focuses on rulemaking (NPRM) for remote identifica- pounds.
    [Show full text]
  • Aktuelle Hinweise Iran 16.12.2016
    16.12.2016 Aktuelle Hinweise Iran Foreign companies explore investment opportunities in Iran’s mining sector A considerable number of European and Asian company representatives, among them a large economic delegation of NUMOV member companies, are currently investigating possible investments in Iran’s mining sector, Iranian Deputy Industry Minister H.E. Mehdi Karbasian announced on 11th December. Making the remarks during the 2nd Iran’s Mines and Mining Industries Summit (IMIS 2016) in Tehran, H.E. Karbasian, who is also the Head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), underscored that foreign investors should regard Iran not only as a country with 80-million people market but a country with access to the region’s 400 million people market. The two-day IMIS 2016, held at IRIB International Conference Center by IMIDRO, focused on Iran’s mines and mining industries role in the country’s economy, the government’s incentives to develop mining activities for economic growth, applying compatible finance strategies for Iran’s mines and mining industries development projects and introducing new technologies in mining industry. Iran Aseman to buy Airbus Jets Iran Aseman Airlines has made an agreement with Airbus for the acquisition of 7 airplanes. The first jets are scheduled to be delivered by the end of May 2017. Iran Aseman is the third largest airline of the Islamic Republic and serves national as well as international destinations. Currently the airline has 35 aircrafts with an average age of 35 years. Iranian steel exports to rise by 50% Iran’s exports of crude steel and related products are forecasted to rise by 50 percent in the current Iranian calendar year, which ends on March 20th 2017.
    [Show full text]
  • Operation Management Is a Functional Field of Business with Clear Line Management Responsibilities
    7 CHAPTER II LITERATURE REVIEW 2.1 Operations Management Operations Management is defined as the design, operation, and improvement of the systems that create and deliver the firm’s primary products and services. Like marketing and finance, operation management is a functional field of business with clear line management responsibilities. This point is important because operations management is frequently confused with operation research and management science and industrial engineering (Chase, 2001, pp.6-7). Operations management decisions at the strategic level impact the company’s long-range effectiveness in terms of how it can address its customer’s needs. Thus, for the firm to succeed, these decisions must be in alignment with the corporate strategy. Decisions made at the strategic level become the fixed conditions or operating constrains under which the term must operate in both the intermediate and short term. At the next level in the decision-making process, tactical planning primarily addresses how to efficiently schedule material and labor within the constraints of previously made strategic decisions. Issues on which Operation Management concentrates on this level include: How many workers do we need? When do we need them? Should we work overtime or put on a second shift? When should we have material delivered? Should we have a finished goods inventory? These tactical 8 decisions, in turn, become the operating constraints under which operational planning and control decisions are made (Chase, 2001, p8). 2.2 Achieving Competitive Advantage through Operations Competitive advantage implies the creation of a system that has a unique advantage over its competitors. The idea is to create customer value in an efficient and sustainable way.
    [Show full text]
  • Lion Air Group Terms of Use As of 15 July, 2020 Terms of Use for Website And/Or Application
    Lion Air Group Terms of Use as of 15 July, 2020 Terms of Use for Website and/or Application Thank you for visiting lionair.co.id (the “Website”) or downloading the Lion Air application (“Application”). These terms of use (together with its amendments, supplements and/or modification shall be referred to as “Terms of Use”) constitute as an agreement between Users (“You”, “Your”, or “Yourself”) and Lion Air Group (including Batik Air, Lion Air, Wings Air, Malindo Air and Thai Lion Air, “We”, “Us” or “Our”). This Website is owned and operated by PT Lion Mentari (“Lion Air”), a limited liability company duly established and legally operating under the laws of the Republic of Indonesia and domiciled in DKI Jakarta, Indonesia. These Terms of Use govern Your access to or use of the Website and/or Application. Please read these Terms of Use and the Privacy Policy carefully as these contain important information about Your rights and obligations. We reserve the right to change, modify, add and/or delete any provision of these Terms of Use and the Privacy Policy, at any time, at Our sole discretion and without any prior notice to You. Changed provisions will become effective once posted on the Website and it is Your responsibility to read these Terms of Use and the Privacy Policy periodically. Your continued access to or use of the Website and/or Application after any change means You have accepted the changed provisions. If, at any time, You do not agree to any part of these Terms of Use and the Privacy Policy, please immediately cease to access or use the Website and/or Application.
    [Show full text]
  • Managementinnovation Strategy to Face the Competition of Domesticcommercial Flight Business in Indonesia Case Study: Garuda Indonesia Airline
    MANAGEMENTINNOVATION STRATEGY TO FACE THE COMPETITION OF DOMESTICCOMMERCIAL FLIGHT BUSINESS IN INDONESIA CASE STUDY: GARUDA INDONESIA AIRLINE S. RENDY ARDIANSYAH Department of Engineering Management, University of Birmingham, Birmingham, United Kingdom E-mail: [email protected] Abstract- Innovation is an essential part to be done bycompanies in order to survive for the tight competition in business industry. Being innovative does not just creating new product using the expertise of market researchers, and product developers. It also involves using capabilities of everyone in organisation to achieve the process that help new product to reach the market effectively and efficiently. Garuda Indonesiabecomes one of many companies that successfully innovate in their core business. They do a good innovation in their marketing strategy as well as in the company's management structure. In thispaper, a review of selected innovation strategy has been undertaken by Garuda Indonesia that can provide a competitive advantage and sustainability in the global market. Based on the literature review, a framework has been developed with key factors/enablers that determine the resilience and competitiveness of innovation strategy of Garuda Indonesia. This framework has been empirically studied by collecting data from annual report, and data from company. It involves a sample of competitor and provides further insight into the key characteristics associated with resilience and competitiveness of Garuda Indonesia airline that are influenced by advances
    [Show full text]
  • ASTRI ARICO PUNCE NIM. 150106122 Mahasiswa Fakultas Syari’Ah Dan Hukum Prodi Ilmu Hukum
    PERTANGGUNG JAWABAN PT. LION AIR TERHADAP PENUMPANG YANG MENGALAMI PENUNDAAN KEBERANGKATAN (DELAY) DITINJAU DARI UU NO. 8 TAHUN 1999 TENTANG PERLINDUNGAN KONSUMEN SKRIPSI Diajukan Oleh : ASTRI ARICO PUNCE NIM. 150106122 Mahasiswa Fakultas Syari’ah dan Hukum Prodi Ilmu Hukum FAKULTAS SYARI’AH DAN HUKUM UNIVERSITAS ISLAM NEGERI AR-RANIRY BANDA ACEH 2019 M/1441 H PERTANGGUNGJAWABAN PT. LION AIR TERHADAP PENUMPANG YANG MENGALAMI PENUNDAAN KEBERANGKATAN (DELAY) DITINJAU DARI UU NO. 8 TAHUN 1999 TENTANG PERLINDUNGAN KONSUMEN SKRIPSI Diajukan Kepada Fakultas Syari’ah dan Hukum Universitas Islam Negeri (UIN) Ar-Raniry Banda Aceh Sebagai Salah Satu Beban Studi Program Sarjana (S1) Dalam Ilmu Hukum Oleh: ASTRI ARICO PUNCE Mahsiswa Fakultas Syari’ah dan Hukum Prodi Ilmu Hukum NIM 150106122 Disetujui untuk Dimunaqasyahkan oleh: Pembimbing I, Pembimbing II, Dr. Ali Abubakar, M. Ag Iskandar, SH,. M.H NIP. 197101011996031003 NIP. 19720808200541001 ii PERTANGGUNGJAWABAN PT. LION AIR TERHADAP PENUMPANG YANG MENGALAMI PENUNDAAN KEBERANGKATAN (DELAY) DITINJAU DARI UU NO. 8 TAHUN 1999 TENTANG PERLINDUNGAN KONSUMEN SKRIPSI Telah Diuji oleh Panitia Ujian Munaqasyah Skripsi Fakultas Syari’ah dan Hukum UIN Ar-Raniry dan Dinyatakan Lulus Serta Diterima Sebagai Salah Satu Beban Studi Program Sarjana (S-1) dalam Ilmu Hukum Pada Hari/ Tanggal: Selasa, 03 Desember 2019 M 06 Rabi’ul Akhir 1441 H di Darussalam, Banda Aceh Panitia Ujian Munaqasyah Skripsi: Ketua, Sekretaris, Dr. Ali Abubakar, M. Ag Iskandar, SH,. M.H NIP. 197101011996031003 NIP. 19720808200541001 Penguji I, Penguji II, Arifin Abdullah, S.HI., M.H Dr. Jamhir, S. Ag, M.Ag NIP. 198203212009121005 NIP. 197804212014111001 iii PERNYATAAN KEASLIAN KARYA ILMIAH Yang bertanda tangan di bawah ini: Nama : Astri Arico Punce NIM : 150106122 Prodi : Ilmu Hukum Fakultas : Fakultas Syari’ah dan Hukum UIN Ar-Raniry Dengan ini menyatakan bahwa dalam menulis skripsi ini, saya: 1.
    [Show full text]
  • Iran Aseman Airlines P.O
    In the name of God Islamic Republic of Iran Civil Aviation Organization Reference: IR.145.10 Pursuant to the Civil Aviation Regulation of the Islamic Republic of Iran for the time being in force and subject to the conditions specified below, the Civil Aviation Organization of the IR.Iran (CAO.IRI) hereby certifies: Iran Aseman Airlines P.O. Box: 13145-1476, Mehrabad international airport, Tehran, Iran www.iaa.ir as a maintenance organization in compliance with CAO.IRI Part-145, approved to maintain the products, parts and appliances listed in the attached "approval schedule" and issue related certificates of release to service using the above reference. Conditions: 1. This approval is limited to that specified in the scope of work section of the approved Maintenance Organization Exposition (MOE) as referred to in section A of CAO.IRI Part-145, and 2. This approval requires compliance with the procedures specified in the approved MOE, and 3. This approval is valid whilst the approved maintenance organization remains in compliance with CAO.IRI Part-145. 4. Subject to compliance with the foregoing condition, this approval shall remain valid until any specified date of expiry, unless the approval has previously been surrendered, suspended or revoked. Date of original issue: 26 Aug 2013 Date of this issue: 26 Aug 2017 Date of expiry: 25 Aug 2018 S7 Sig~ Mohammad Javad Taghvaey Vice President of CAO in Flight Standard Page 1 of 3 CAO.IR Form 3(a) Civil Aviation Organization of IE. Iran (CAO.IR!) Reference: IR.145.10 Organization name: Iran
    [Show full text]
  • Global Volatility Steadies the Climb
    WORLD AIRLINER CENSUS Global volatility steadies the climb Cirium Fleet Forecast’s latest outlook sees heady growth settling down to trend levels, with economic slowdown, rising oil prices and production rate challenges as factors Narrowbodies including A321neo will dominate deliveries over 2019-2038 Airbus DAN THISDELL & CHRIS SEYMOUR LONDON commercial jets and turboprops across most spiking above $100/barrel in mid-2014, the sectors has come down from a run of heady Brent Crude benchmark declined rapidly to a nybody who has been watching growth years, slowdown in this context should January 2016 low in the mid-$30s; the subse- the news for the past year cannot be read as a return to longer-term averages. In quent upturn peaked in the $80s a year ago. have missed some recurring head- other words, in commercial aviation, slow- Following a long dip during the second half Alines. In no particular order: US- down is still a long way from downturn. of 2018, oil has this year recovered to the China trade war, potential US-Iran hot war, And, Cirium observes, “a slowdown in high-$60s prevailing in July. US-Mexico trade tension, US-Europe trade growth rates should not be a surprise”. Eco- tension, interest rates rising, Chinese growth nomic indicators are showing “consistent de- RECESSION WORRIES stumbling, Europe facing populist backlash, cline” in all major regions, and the World What comes next is anybody’s guess, but it is longest economic recovery in history, US- Trade Organization’s global trade outlook is at worth noting that the sharp drop in prices that Canada commerce friction, bond and equity its weakest since 2010.
    [Show full text]