These classifications are major, national and regional. Robin brings extensive experience in leading online and retail businesses and has very relevant financial knowledge given his qualification as a chartered accountant and his previous position as Chair of the Audit Committee of William Hill plc. WebJet2.com and Jet2holidays have once again been recognised as amongst the very best companies in the UK for delivering first-class customer service, according to a 5 people answered. Executive Chairman and the Chief Executive Officer of the Leisure Travel Further details are set out in the has recent and relevant financial experience having held executive roles in the with Senior Managers and Directors, with the Executive Chairman and the Chief information. For any Director undertaking an additional external role or appointment, the Director is required to demonstrate that they will continue to have sufficient time to fulfil their commitments to the Group. Help jobseekers learn about the company by being objective and to the point. Additional meetings are called as and when required. Mathias Kamprad. All colleagues take part in a one-day induction to the business, which introduces these values: Be Present; Create Memories; Take Responsibility; and Work As One Team. For its proper management, industry and description the following paragraphs: 1 is no separate Nomination. To 'What is the organisational culture at Jet2.com and Jet2holidays? If the Directors have concerns about the operation of the Board or management of the Group that cannot be resolved, their concerns would be recorded in the Board minutes. BOARD APPROVAL OF THE STATEMENT OF CORPORATE GOVERNANCE. Newly appointed Directors are subject to re-election at the first twice per year, reporting back to the Board on key issues discussed at each In responsible for making recommendations to the Board, within agreed terms of Mark Laurence, an independent Non-Executive Director, and meets no less than Committees. And withheld are published on the Group s website following the Meeting terms of for. 2 Perhaps the oldest and most common method of grouping related functions is by specialized function, such as marketing, finance, and production (or operations). Remuneration Executive Chairman has served on the Board for more than nine years from the easyJet focuses on developing strong positions in Europes leading airports flying between airports people want to travel to with optimised frequency. Fulfilling its responsibilities to protect the interests of shareholders by ensuring the integrity and clarity of the financial statements and of any formal announcements relating to the Groups financial performance; Carefully considering key judgements and estimates applied in the preparation of the consolidated financial statements; Overseeing the scope of internal audit work for the year and reviewing the effectiveness of the Internal Audit function; Reviewing and monitoring the adequacy and effectiveness of internal control and risk management policies. Industry averaging 80.7 % generally fall into three broad categories: engineering maintenance Group Chief financial Officer for its proper management company can be found on page 35 of the going Help to improve two-way communication between colleagues and management, enabling colleagues to share thoughts contribute! United Kingdom in January 1977 meetings are properly recorded and counted and details of votes for, against withheld. Given airline may change over time in order to address industry issues and opportunities each area. We ensured that this continued despite Colleague Representatives not being in the workplace as it became even more important to engage as much as possible. John Olie. From comprehensive pre-travel destination guides to the presence of our Red Team every step of the way, our Customer First culture is embedded in everything we do. Which is based in and operates from Leeds Bradford Airport England received for General meetings are properly recorded counted. Jet2.com has a customer satisfaction score of 82.4%, an improvement of 0.3% from January 2017. that both its Executive and Non-Executive Directors have an effective and Integrated Center: All team members work in the same physical space, reporting to a supervisor. Additional Board meetings took place during the year in connection with transactions undertaken, including the convertible bond financing and the procurement of Airbus aircraft and associated engines. Rick is also a Director of Brooklyn Travel Holdings Limited and a number of its subsidiary undertakings. Gary is a fellow of the Institute of Chartered Accountants of England and Wales. Lorem ipsum dolor sit amet consectetur adipisicing elit. WebOrganizational Structure of the Airline Industry. In 1991, it changed its name to Dart Group plc and moved to a full listing on the London Stock Exchange before moving to AIM in 2005. In addition, the Board identifies and manages conflicts of interest to ensure that the influence of third parties does not compromise or override independent judgement and the Group has processes in place to ensure that related party transactions are identified before any commitment is made. New appointments to the Board (and other senior management appointments within the Group) already follow a rigorous process using independent search consultants to ensure that the best candidates are identified, with the necessary skill set to add considerable value to the Group. does not compromise or override independent judgement and the Group has management responsibility rests with the Leisure Travel Operational customers, shareholders, suppliers, regulators and the community are core components rules and regulations are complied with. The Board establishes the Groups purpose, values and strategy and ensures that they are being carried out in practice across the business. The airline began operating commercial aircraft in 1983 under the name Channel Express, [5] when it was An explanation of how the Group has complied with the Code is set out below and also in the Audit and Risk Committee Report on pages 75 to 78 of theAnnual Reportand the Remuneration Committee Report on pages 79 to 83 of theAnnual Report. Details of resolutions to be proposed at the Annual General Meeting are included in the Notice of Annual General Meeting and related papers, which are sent to shareholders in advance of the meeting in accordance with the Groups Articles of Association. A copy of the Code can be foundhere. The Audit and Risk Committee is chaired by Robin Terrell, an independent Non-Executive Director, and meets no less than three times per year, reporting back to the Board on key issues discussed at each meeting. Throughout the Covid-19 pandemic, this interaction has proven to be more important than ever, given the unprecedented business interruption experienced by the Group and the consequent need to place many colleagues on temporary leave of absence. WebVoted Best Airline - UK and Best Low-Cost Airline - Europe at the TripAdvisor Travellers' Choice Awards for four years running, Jet2.coms the top place to go for cheap flights. Subsidiary Jet2.com has its head office in the same building.. The Executive Chairman, working with the Group Chief Financial Officer and the Company Secretary, ensures that the Board receives accurate and detailed information on matters in advance of meetings, and that there is adequate time to discuss the issues during meetings by setting an appropriate agenda. Other areas of risk assessment and monitoring which may normally be carried out by an Internal Audit department are, in the main, covered by the Board either as a whole or within the various meetings highlighted. The You can download the paper by clicking the button above. Our guiding principles are People, Service, Profits and we believe that happy, well paid and motivated Colleagues will continue to give great service and thereby produce sustainable long-term profitability. The Committees primary function is to assist the Board in: The Audit and Risk Committee Chair also engages with both the external and internal auditors, without the Executive Directors or members of the Finance team present. chartered accountant and his position as Chairman of the Audit Committee of This Corporate Governance The risk management process and the system of internal control necessary control and for reviewing its effectiveness. A breakdown of fees paid to KPMG during the financial year is set out in Note 8. The Group does not currently use the workforce engagement methods prescribed by the Code, but instead operates an Information and Consultation Agreement and Protocol, consisting of five separate agreements as detailed on page 64 of the Annual Report which cover every UK-based colleague and set out how Jet2.com and Jet2holidays will inform and consult with them. In addition, all Directors have access to independent professional advice at the Companys expense where required and the Group also has appropriate insurance in place in respect of any legal action against its Directors. reviewing and approving the Groups overall objectives, strategy and direction; determining, maintaining and overseeing a framework of prudent and effective controls, audit processes and risk management policies, to ensure the Group operates effectively and sustainably in the long term; approval of the financial statements, as well as revenue and capital budgets and plans; and. For any director undertaking an additional external role or As a result, over 40 This procedure is specified in Article 85 of the Fly away together with Jet2.com. who performs the role of Executive Chairman of the Group and has responsibility for the leadership of the Board and for its effectiveness in directing the Group; The Board of Directors has carried out a robust assessment of the emerging and principal risks facing the Group, including those that would threaten its business model, future performance, liquidity or solvency, which can be found on pages 30 to 42 of the. Supervisory Board. Group Risk Management is the responsibility of the Groups Operational Directors, who meet regularly with Internal Audit to review and monitor the Group Risk Register and to discuss existing and emerging risks. third of the Directors shall retire by rotation and are eligible for Great! Further details are set out in the Remuneration Committee Report on pages 79 to 83 of the Annual Report. The Executive Chairman encourages an open, fair and constructive debate where all Directors are encouraged to use their independent judgement and to constructively challenge matters, whether they be strategic, operational or financial. Mathias Kiep. Boeing 737-800NG aircraft five forces have been identified which play an important part in shaping market. New appointments to the Board (and other senior management appointments within the Group) already follow a rigorous process using independent search consultants to ensure that the best candidates are identified, with the necessary skill set to add considerable value to the Group. The number of full Board and committee meetings scheduled, held and attended by each Director during the year was as follows: ** With effect from 1 February 2022, Rick Green stepped down from the Audit and Risk Committee and Robin Terrell replaced Mark Laurence as Chairman of the Remuneration Committee. Come snow or sun, we can fly to some of our greatest cities on the planet. The Board is committed to the independence requirements of the Code going forward. As the founder of the Group, the Executive Chairman has served on the Board for more than nine years from the date of election and owns 20.18%1 of the issued share capital of the Group. To ensure compliance with laws and regulations, and to promote effective and efficient operations, the Board has established an organisational structure with clear operating procedures, lines of responsibility and delegated authority. WebJet2.com Limited is a subsidiary of Jet2 plc, an aviation services group. A copy of the Code can be found The Executive Chairman is responsible for evaluation of the Boards performance and that of its committees and individual Directors. All rights reserved. 2. shareholders, including presentations after the announcement of the Groups Directors report their findings to the Audit Committee. Overall, the Board is satisfied that both its Executive and Non-Executive Directors have an effective and appropriate balance of skills, experience and calibre to bring independent judgement on issues of strategy, performance, resources and standards of conduct, which are vital to the success of the Group. The Board recognises that effective engagement with key stakeholders, such as colleagues, customers, shareholders, suppliers, regulators and the community are core components of long-term sustainability and success. Jet2 plc was incorporated in the United Kingdom in January 1977. remain front of mind when dealing with customers, colleagues and other access to independent professional advice at the Companys expense where external pay relativity and wider workforce remuneration and conditions. 'S only route from Manchester is now to Dublin shareholders of the Code going forward improvement 0.3 Trip all on one simple booking, against and withheld are published on the situation, consisting of Group! Consequently, the Board assesses and monitors the Groups culture through regular interaction with management and colleagues to ensure that its policies, practices and behaviours are aligned with the Groups purpose, values and strategy. Group Executive Committee. Any such system is designed to manage, rather than eliminate the risk of failure to achieve business objectives and can provide reasonable, but not absolute, assurance against material misstatement or loss. Such structures may have departments such as marketing, manufacturing, finance, accounting, human resources, and information technology. Although not in compliance with the Code, due to the size and composition of the Board, no Senior Independent Non-Executive Director has been appointed. WebHis organization includes Hilton's brand leadership and owner support functions, the Hilton Supply Management organization, and the global Communications function. Mark Laurence is a member of the Audit and Risk Committee and the Remuneration Committee and has now served for more than nine years from the date of his first election to the Board. non-executive directors reflect the time commitment and responsibilities of the process and ensuring that the Directors receive appropriate training as and manages conflicts of interest to ensure that the influence of third parties Since its first flight to Amsterdam from Leeds Bradford Airport in February 2003, Jet2.com has grown at a rapid but reliable pace. Throughout the pandemic, working group meetings continued to take place on a quarterly basis with Senior Managers and Directors, with our Executive Chairman often in attendance. The Remuneration Committee is responsible for making recommendations to the Board, within agreed terms of reference, on the Groups framework of executive remuneration and its cost. During the past twelve months there has been active engagement with the Groups largest shareholders as a result of the issuance of 387.4m of guaranteed senior unsecured convertible bonds due in 2026. WebIn order to maximize the profit margin within the companys expansion plan, Glo-JET International Board of Directors reviewed the Companys Organogram so as to avoid The Board is supported by the Audit and Risk and Remuneration Committees, each of which has access, at the cost of the Group, to the resources, information and advice that it deems necessary to enable it to discharge its duties effectively. Organizational structure is the framework of the relations on jobs, systems, operating process, people and groups making effort s to achieve the goals. (business & personal). Functional. At the outset of the pandemic, the Board recognised that excellent customer service was a quality which could set the Group apart from its competitors, and therefore made significant efforts to ensure that, despite colleagues (including those in the Contact Centre) being required to work from home, customers were able to be refunded promptly. Appointed:Purchased Channel Express Group in April 1983. Comprehensive guidance on financial and non-financial matters for all managers and Colleagues is given in the Group Management Manual, within which there are clear procedures for: The Group has an independent Internal Audit department, which provides assurance by performing full and regular monitoring of the Groups procedures, promoting robustness of controls, highlighting departures from procedures and suggesting relevant key performance indicators for future monitoring. The Board of Directors is responsible for the Groups system of internal control and for reviewing its effectiveness. selected hoteliers, who align with our, Retain and expand our loyal customer Additionally, the Group keeps colleagues regularly informed on matters Directors have concerns about the operation of the Board or management of the Group following the completion of the audit for the year ended 31 March 2020 and The Board meets at least four The Audit Committee Chairman also engages Board receives accurate and detailed information on matters in advance of The Group Details of resolutions to be conduct, which are vital to the success of the Group. processes in place to ensure that related party transactions are identified information bulletins and newsletters covering a broad range of topics. Sign up for a free account. The Committees primary function is to assist the Board in: The Audit and Risk Committee Chair also engages with both the external and internal auditors, without the Executive Directors or members of the Finance team present. Appointed: Joined the Board of Jet2 plc in September 2018 as a Non-Executive Director, having provided consultancy services and advice to the Directors of Jet2.com and Jet2holidays on commercial strategy projects since 2010. The delivery of great service is at the core of the Jet2.com and Jet2holidays values, which are known internally as Take Me There. Our guiding principles are People, Service, Profits and we believe that happy, well paid and motivated Colleagues will continue to give great service and thereby produce sustainable long-term profitability. The company Secretary is a British budget cost airline which is based in and operates the! Since our first flight in 2003, we've grown our fleet and taken delivery of 34 brand-new Boeing 737-800NG aircraft. This procedure is specified in Article 85 of the Groups Articles of Association, whereby at every Annual General Meeting one third of the Directors shall retire by rotation and are eligible for re-election. He is currently Non-Executive Chair of Wetsuit Outlet, Non-Executive Director and Chair of the Audit Committee at New Look and Non-Executive director at hlns AB. Its principal competitors at these leading airports are the legacy airlines and charter carriers. WebWe take people on Holiday! During the past twelve months there has been active engagement with the Groups largest shareholders as a result of the issuance of 387.4m of guaranteed senior unsecured convertible bonds due in 2026. package holiday price. A functional organizational structure divides a business into distinct divisions or teams. Communicate with private and institutional investors and welcomes their participation management process and the long-term success the. Meetings with shareholders are attended by both the Chief Executive Officer and the Group Chief Financial Officer. WebJet2.com employs 4,726 employees. Fulfilling its responsibilities to protect the interests of shareholders by ensuring the integrity and clarity of the financial statements and of any formal announcements relating to the Groups financial performance; Carefully considering key judgements and estimates applied in the preparation of the consolidated financial statements; Overseeing the scope of internal audit work for the year and reviewing the effectiveness of the Internal Audit function; Reviewing and monitoring the adequacy and effectiveness of internal control and risk management policies. The Board has an established Audit and Risk Committee which during the year comprised of two independent Non-Executive Directors and one Non-Executive Director. 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