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AirAsia strives ‘doing more with less’
By organizing its first Sustainability Day with the theme “Doing More with Less,” AirAsia began a new phase in its efforts to promote industry engagement and foster better collaboration. Led by Capital A chief sustainability officer Yap Mun Ching, the event featured in-depth exchanges on topics addressing AirAsia’s pathways to decarbonization, as well as challenges and opportunities in the implementation of these strategies. The line-up of speakers comprised of AirAsia technical heads and subject matter experts who tackled topics including how AirAsia is factoring ESG considerations into the deployment of its fleet assets, prospects for switching to greener biofuels, and opportunities for ESG financing and managing talents to meet its future growth needs. Delivering the opening and closing messages of the day, respectively, were AirAsia Aviation Group Ltd. chairperson Tan Sri Jamaludin Ibrahim and AAAGL Sustainability adviser professor Tan Sri Dr. Jemilah Mahmood. Capital A chief sustainability officer Yap said that this day marks the first time they are bringing all their key stakeholders from government officials, regulators, financial institutions, and aviation analysts, business partners, and the media to advance their understanding of the intricacies of aviation sustainability. As they rebuild their business post-pandemic, they are broadening and deepening their sustainability agenda by incorporating robust ESG practices into their strategic priorities so that they recover stronger and better. She added that since the aviation industry is difficult to regulate, obtaining net zero emissions by 2050 will require coordinated efforts from all industry players, not just airlines. Since the world is likely to hit an environmental tipping point quicker than anticipated and since the media practically serves as a reminder of this, it is imperative that everyone takes prompt action to recognize and make available the solutions that airlines need to minimize their carbon emissions. Yap mentioned that under AirAsia’s net zero plan, all airlines have four options for reducing carbon emissions: modernizing their fleet, accelerating the adoption of green operating practices, switching to biofuels and offsetting any remaining emissions. The A321neo, widely regarded as the most fuel-efficient aircraft on the market right now, is being added to AirAsia’s fleet, and the airline is also expanding and deepening its industry-leading fuel-efficiency program. According to Yap, whether the airline is using fossil fuels or biofuels, what should precede this question is whether they are using more than is necessary. AirAsia’s fuel efficiency program is one of the best, if not the best, in the world. Even as the airline explores new solutions, it cannot lose sight of its strength, which has enabled it to achieve among the lowest costs and emissions per seat in the industry. During the panel discussion, AirAsia’s fleet and flight operations leads discussed how the airline is implementing ESG factors into the deployment and use of its expanding fleet. There are presently 362 new A321neo aircraft on order for AirAsia, and they will be delivered between 2024 and 2035. Jonathan Sanjay, senior manager of Flight Operations Projects, Development, and Efficiency for AirAsia, claims to have worked for the company since 2015 and has already saved the company over US$130 million in fuel costs and CO2 emissions. In order to change its fuel mix before 2025, AirAsia is also looking into solutions for incorporating sustainable aviation fuel. Facilitating biofuels use The day’s session continued with remarks on the role of various stakeholders in facilitating the adoption of aviation biofuels by Christoph Behrendt-Rieken, the lead SAF expert of the EU-SEA CCCA CORSIA Project run by the EU Aviation Safety Agency, and options in ESG financing by aviation legal expert Teo Hui Ling, a partner at Reed Smith LLP. The day’s event culminated with a special tour of AirAsia’s engineering complex, RedChain, where participants were introduced to initiatives being undertaken by Asia Digital Engineering to revolutionize aviation. This was followed by a session on how AirAsia has used diversity, equality and inclusion to create its competitive edge over the past 22 years. In conjunction with the event, AirAsia also promoted its Guide to Aviation Sustainability, a handbook of aviation sustainability terms to make more accessible common concepts associated with the subject. The handbook also highlights outcomes from AirAsia’s own implementation of some of the measures listed. Publication of the booklet was supported by the airline’s business partners, namely Avolon, Honeywell, and Mirus. Aircraft Seating, PETRONAS, Shell Aviation, and SITA. More information on AirAsia’s Sustainability achievements, goals, and targets is available in the Capital A Sustainability Report 2022. The post AirAsia strives ‘doing more with less’ appeared first on Daily Tribune......»»
AirAsia’s Tony Fernandes optimistic about tourism
Capital A chief executive officer Tan Sri Tony Fernandes is prepared to hasten the tourism industry’s recovery and attract more foreign investments to the Philippines. The AirAsia owner said more customers are switching from more expensive to less expensive products and doing shorter trips as a result of flying across the Pacific. In the Philippines, connectivity has always been essential for meeting domestic requirements and facilitating travel within the region. Through AirAsia’s centers in Manila and Cebu, the Philippines initially developed linkages with a number of Asian nations, including Japan, South Korea, Thailand, Taiwan and Malaysia. Improve connectivity In order to draw more tourists to places like Cebu, Bacolod and Palawan, there are plans to improve connectivity, according to Fernandes. He added that they’re seeing a huge pent-up demand for travel, which gives him a huge amount of confidence. He thinks that their strength is that they are also very strong in secondary and tertiary cities and in providing connectivity, so that is adding growth. To sustain the pent-up demand for travel, AirAsia has launched another round of Piso Sale, which is available for booking until June 18 for domestic flights to cities like Davao, Cagayan de Oro, Tacloban, Puerto Princesa and Bacolod, as well as flights abroad to cities like Hong Kong, Macao, Seoul, Taipei, Guangzhou and Shenzhen for travel from 1 September 2023, to 8 October 2024. Fernandes asserted that AirAsia flights are still reasonably priced in spite of market dynamics and other contributing factors. He added that the World’s Best Low-Cost Airline would keep offering a competitive rate while generating more traffic and opening up additional destinations. He shared that the Philippines can attract 9 million tourists a year, comparing it to Thailand, another popular destination. The establishment of more locations with airport infrastructure and other necessary infrastructure to get to the airport, however, is something that the public and private sectors could support. The World’s Best Low-Cost Airline would keep offering a competitive rate while generating more traffic and opening up additional destinations. To better serve its guests and provide more passenger convenience, the World’s Best Low-Cost Airline reminds its guests that beginning 1 July 2023, all AirAsia domestic flights will depart from and arrive at NAIA Terminal 2. All international flights, on the other hand, will continue to operate at NAIA Terminal 3 until further notice. The post AirAsia’s Tony Fernandes optimistic about tourism appeared first on Daily Tribune......»»
DBP bucks merger, cites need for law
The Development Bank of the Philippines has filed an appeal with the Office of the President to reconsider the proposed merger with the Land Bank of the Philippines or LandBank as the former insists it must be first approved by Congress as required by law. This is a response to statements by Alex Quiroz, chairperson of the Governance Commission for Government-Owned or Controlled Corporations last Monday, who said President Ferdinand Marcos Jr. can approve the proposed merger without a new law from Congress. However, in a DBP statement, the bank argued Republic Act 10149 limits the commission to the “evaluation of performance and determination of the relevance of GOCCs and implementation of mergers.” The law says the commission may “recommend to the president the merger of GOCCs and implement the merger unless otherwise directed by the president.” Best interest of the State These should be done only after the commission determined the merger will be in the best interest of the State. The law adds the commission must consult with the relevant government agencies and stakeholders before adopting an ownership and operations manual and the government-corporate standards governing GOCCs. In its statement, DBP said the merger’s proponent, Department of Finance Secretary Benjamin Diokno must yet present compelling and detailed arguments that the DBP and the LandBank cannot perform its duties separately and contribute to national development on their own. Diokno said that the President had agreed to the proposed merger in a Cabinet meeting last month as the finance chief said it will remove redundancies in the operations of the two banks and because of the need of DBP for recapitalization of up to P100 billion and capital infusion from the national government. He added the merger will improve the weaknesses of both banks. Will complicate processes However, the DBP said the merger will complicate banking processes and goals as DBP mechanisms are specifically designed to serve stakeholders in the infrastructure industry. “DBP is to develop industry; Land Bank, agriculture. Yet, there is no showing of any redundancy and how the proposed merger would effectively address the alleged ‘inefficiencies.” DBP added that the talks and steps for the proposed merger will divert the bank’s focus and energy toward helping boost relevant industries amid the challenging economic environment. “We will explore all options and available remedies to strongly articulate our position that the merger is unwarranted and ill-timed given the existing socio-economic milieu that necessitates a responsive and progressive development financing institution such as DBP.” The post DBP bucks merger, cites need for law appeared first on Daily Tribune......»»
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