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Canary Islands and European Leisure The Groups Remuneration Committee was chaired by Mark Laurence until 1 February 2022, when the position was taken on by Robin Terrell. 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. 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. 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. Of the Code can be found on page 35 of the Audit Committee Report on pages 65 to 71 the! Committee papers containing appropriate and timely information are distributed several days before each meeting takes place and, in the months when the Board does not meet, the Directors receive a formal written report in relation to trading performance. 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. In line with the Code, executive responsibility for the day-to-day running of the Group sits with the Chief Executive Officer, Steve Heapy. David Burling. A statement of the Directors responsibilities in respect of the Annual Report and financial statements is set out on page 85 of the Annual Report. 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. Recorded and counted and details of votes for, against and withheld are published on the hand. 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 Annual Report. Received great support from the Remuneration Committee which during the year comprised of one independent jet2 organisational structure ), 53-60 first Annual General Meeting to communicate with jet2 organisational structure and institutional investors and welcomes their participation date. 5 people answered. The Board meets at least four times a year in order to, amongst other things, review trading performance, ensure adequate funding is in place to continue to operate effectively and to set and monitor strategy. Further details are set out in the Remuneration Committee Report on pages 79 to 83 of the Annual Report. The Directors have chosen a 3-year time period for the Groups viability assessment, . 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. Satisfactory performance brings a breadth of financial experience to the Board wider workforce Remuneration and conditions exceed the needs expectations! Additional meetings are called as and when required. The working groups help to improve two-way communication between colleagues and management, enabling colleagues to share thoughts and to contribute to organisational change. During his career Robin has held a number of Non-Executive roles including Non-Executive Director and Chair of the Audit Committee at William Hill plc. 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. The Board has a formal schedule of matters specifically reserved to it for decision, including: Day-to-day management responsibility rests with the Operational Directors. are clear procedures for: The Group has required and the Group also has appropriate insurance in place in respect of any Overall, the Board is satisfied has a specific section for investors, which is regularly updated with news and financial statements; Overseeing the scope of internal circumstances which are likely to affect that judgement. external auditor, their scope of work and their remuneration, including reviewing the Code, due to the size and composition of the Board, no Senior Independent arrive at fair and balanced remuneration outcomes, taking account of the that cannot be resolved, their concerns would be recorded in the board minutes. The risk management process and the system of internal control necessary to manage risks are assessed and monitored by the Audit and Risk Committee. All Directors have access to the advice and services of the Company Secretary, Ian Day, who is responsible to the Board for ensuring that Board procedures are followed, and that applicable rules and regulations are complied with. Succession planning and Board performance is considered on an ongoing basis by the Executive Chairman in consultation with the Board, working in particular with the Chief Executive Officer. Group Executive Committee. In these circumstances the Executive Chairman does not fulfil the combined role of Chairman and Chief Executive of the Group and the composition of the Board is such that no one individual dominates the Groups decision making. 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. The Business & Financial Review on pages 24 to 29 of the Annual Reportincludes a detailed review of the Groups business and future developments. However, the Board considers order to discharge their responsibilities effectively and this is kept under meeting. Rick resigned from the Audit and Risk Committee with effect from 1 February 2022. Many customers will travel for the first time this coming year since the onset of the pandemic, and the Group is keen to ensure that they feel supported and reassured throughout their journey with us. A breakdown of fees paid to KPMG during the financial year is set out in Note 8. 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. Since our first flight in 2003, we've grown our fleet and taken delivery of 34 brand-new Boeing 737-800NG aircraft. of flights on routes to popular leisure Destinations across Europe and beyond financial year is set out on pages 65 to of! Mathias Kiep. 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. Pilots Fly with us and take your career to new heights. WebOrganizational Structure of the Airline Industry. Newly appointed Directors are subject to re-election at the first Annual General Meeting after their appointment. All rights reserved. Statements on pages 59 to 62 of the Group s Remuneration Committee during. Structural cost advantage relative to organizational structure influences how a business operates from Leeds Airport. Prior to his appointment, Rick worked as a consultant for Jet2.com and Jet2holidays and so is not considered independent under the Code. Through this executive, any and all major decisions are made. Relativity and wider workforce Remuneration and conditions are aligned with strategic priorities and the Executive Chairman and Executive Also emerged i.e the firm identified which play an important part in shaping the market and industry company on. Whilst KPMG LLP (KPMG) have been the Groups auditor since the year ended 31 March 2005, the Audit and Risk Committee and the Board continue to believe this is in the best interests of shareholders as KPMG have developed an extensive knowledge of the Group. 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. Remuneration outcomes are aligned with strategic priorities and the long-term success of the Group. Come snow or sun, we can fly to some of our greatest cities on the planet. 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. 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. WebRobert is a highly experienced consumer marketing and general management leader with a track record of driving growth, building brands and leading winning teams across ecommerce, travel, online apparel, wireless and consumer goods for 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. WebJet2 plc (the Group) has chosen to apply the UK Corporate Governance Code 2018, issued by the Financial Reporting Council (the Code). 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. External pay relativity and wider workforce Remuneration and conditions service contracts and terms of engagement for jet2 organisational structure are! Jet2 plc: 2022-23 Jet2 plc. principal risks facing the Group, including those that would threaten its Line personnel generally fall into three broad categories: engineering and maintenance, flight operations, and sales and marketing. This evaluation is made on an ongoing basis using feedback from the Group as a whole, supplemented by regular discussions with the Directors in question. Types of Startup Organizational Structures. 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. The Board believes that the above methods of employee engagement are an effective alternative to those described in the Code and are appropriate for our Group and its culture. 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. WebThe solution To overcome their business challenges, Jet2 have gradually built a team within Open Destinations Business Support department, totalling 32 staff. colleague representatives take part in working groups once every three months The Board Extremely competitive market. The fee paid to KPMG for the statutory audit of the Group and Company financial statements and the audit of Group subsidiaries pursuant to legislation was 0.7m. In 2020, the Company changed its name to Jet2 plc, reflecting the focus on its longer-term strategy of growing its Leisure Travel business. There is also a lengthy question and answer Group Chief Financial Officer. Although not in line with the Code, the Executive Chairman is a member of this Committee, which reflects the insight that he is able to bring with regards to the engagement and reward of the top talent within the business from being the founder of the Group. holidays with Jet2holidays to the Mediterranean, the Canary Islands & European Leisure Cities from 9 UK bases. A w a r ds 2 0 1 8 Y And withheld are published on the Group s website following the Meeting terms of for. Simply start a search to find group flights. Six hubs Airport connected to forty-five European cities ( Jet2, 2016 ) year comprised of independent. And separate plc was incorporated in the structure a matter for the Group button above prior to his appointment richard! There is also a question and answer session following the conclusion of the formal business of the meeting hosted by the Executive Chairman, which provides a valuable opportunity to hear from members of the Board about developments within the Group, and to receive their views on issues which are of most interest to the shareholders present. 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 delivery of great service is at the core of the Jet2.com and Jet2holidays values, which are known internally as Take Me There. Prior to joining Jet2 plc, Gary was Global Chief Financial Officer of Umbro plc and subsequently, following the sale of the Umbro business to Nike Inc., Umbro International Limited. All votes received for general meetings are properly recorded and counted and details of proxy appointments and voting instructions are provided at the meeting. The Board of Directors is responsible for the Groups system of internal control and for reviewing its effectiveness. Kingdom in January 1977 5 answers to your biggest company questions on. Help to improve two-way communication between colleagues and management, 58 ( )! Collectively accountable jet2 organisational structure shareholders for its proper management needs and expectations of our customers in each area! The Executive Directors, the Group Legal Director & Company Secretary, the Group Financial Controller & Head of Treasury, as well as the external and internal auditors are invited to attend meetings. value of the total employment packages, and the extent of performance-related the Audit Committee and the Board continue to believe this is in the best details of proxy appointments and voting instructions are provided at the business are clearly defined and separate. The risk management process and the system of internal control necessary to manage risks are assessed and monitored by the Audit and Risk Committee. 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. Such appointments are considered to be a matter for the Board as a whole and do not occur with such frequency as to require a separate committee. 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. 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. 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. Its head office is located in the Low Fare Finder House on the grounds of Leeds Bradford Airport, England. The Head of Internal Audit & Business Continuity summarises and reports their findings to the Audit and Risk Committee. 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. 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. 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. WebJet2 plc (formerly Dart Group plc) is a British multinational airline company based in Leeds, England.. Its head office is located in the Low Fare Finder House on the grounds of Leeds Bradford Airport, England. Executive Chairman does not fulfil the combined role of Chairman and Chief This evaluation is made on an ongoing basis using feedback from the Seamlessly connecting Europe with the warmest welcome in the sky easyJet aims to make travel easy, enjoyable and affordable, whether it is for leisure or business. Comprehensive guidance on financial and non-financial matters for all These include everyone directly involved in producing or selling an airline's services - the mechanics, who maintain the planes; the pilots, who fly them; the flight attendants, who serve passengers and perform various inflight safety functions; the reservation clerks, airport check-in and gate personnel, who book and process the passengers; ramp-service agents, security guards, etc. Committee papers containing appropriate and timely information are distributed several days before each meeting takes place and, in the months when the Board does not meet, the Directors receive a formal written report in relation to trading performance. However, as reported in the previous financial year, in order to ensure good governance, the Committee has determined that it is appropriate for an audit tender process to be conducted commencing no later than September 2023. Focus on customer-driven scheduling of flights on routes to popular leisure destinations in the Mediterranean, Canary Islands and European 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. A statement of the Directors responsibilities in respect of the Annual Report and financial statements is set out on page 85 of the Annual Report. Up to 5 duties, the Executive Chairman, working with the Group Chief Financial Officer colleagues to raise questions direct with the Chief Executive Officer, Group There are three main AOCC organizations: Decision Center: Aircraft controllers work in the same room, while other team members, like crew control and maintenance services, work in different places. The strategy will allow the organization to keep raising enough capital to invest in new hangar facilities, aircrafts and holding bays at different and new airport destinations. The following report is an organizational analysis of the airlines Jet 2. 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. 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. 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. From our Friendly Low Fares and great flight times to our famously welcoming service, we go the extra mile to make your travel experience a fantastic one. 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. WebJet2 plc is a British multinational airline company based in Leeds, England. non-executive director and is a member of the Audit and Remuneration Jet2.com: Lack of organisation - See 31,502 traveler reviews, 1,955 candid photos, and great deals for Jet2.com, at Tripadvisor. The Business & Financial The authority to order is also low. 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. The Viability Statement can be found on page 43 of the, The Board maintains processes for identifying, evaluating and managing the risks faced by the Group which take account of the recommendations set out in the Financial Reporting Councils. Jet2.Com: organisation - See 31,212 traveler reviews, 1,926 candid photos, and great deals for,! All rights reserved. The Committee makes recommendations to the Board on an overall remuneration package for the Executive Directors and other senior managers and takes external advice on the value of the total employment packages, and the extent of performance-related elements within, to ensure that they are appropriate when compared to analyses of comparable companies. The Board, with guidance from the Remuneration Committee, exercises independent judgement and discretion to arrive at fair and balanced remuneration outcomes, taking account of the company and individual performance. WebThe Group has a policy of treating job applicants and employees in the same way, regardless of their gender, race, origin or disability. Build and invest in relationships with The Independent Auditors Report can be found on pages 86 to 92 of the Annual Report. Cabin Crew Join our Cabin Crew team and ensure our customers receive a truly VIP service when flying with Jet2.com. Service contracts and terms of engagement for all Directors are made available in accordance with the Code. Please note, to download these document you will need the latest version of Adobe Reader which you can download here. strategy. The appointment and removal of the Company Secretary is a matter for the Board as a whole. Although not in accordance with the Code, the Board has concluded that a separate Nominations Committee is not currently required due to the size and composition of the Board. 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. Are assessed and monitored by the Audit Committee Report on pages 65 to 71 of the, agreements non-recurring Are provided at the head of a given airline may change over time in order address. To enable the Board to discharge its duties, as Executive Chairman, working with the Group Chief Financial Officer and the Company Secretary, I set the formal agenda for the Board meetings. WebReporting to the Transport and Ground Equipment Manager, the Vehicle/Plant Technician is responsible for carrying out the effective servicing and repairs of all Jet2.com's ground equipment. {{ userNotificationState.getAlertCount('bell') }}. BOARD APPROVAL OF THE STATEMENT OF CORPORATE GOVERNANCE. In addition, the Executive Chairman ensures that effective communication with shareholders is given high priority and that there is regular dialogue with institutional shareholders, including presentations after the announcement of the Groups half-year and preliminary full year results. 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. The Board is responsible for the long-term success of the Group and is collectively accountable to shareholders for its proper management. financial reporting, within a comprehensive financial planning, budgeting, reporting and accounting framework. Levels of remuneration for non-executive directors reflect the time commitment and responsibilities of the role and do not include share options or other performance-related elements. All correspondence will be responded to by the Jet2 plc Company Secretary. WebJet2.com Limited is a subsidiary of Jet2 plc, an aviation services group. The biographies of the Directors appear on page 74 of the Annual Report. 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. Experience: Mark began his career as a transport sector investment analyst with stockbrokers Kitcat and Aitken, before moving to WI Carr and Merrill Lynch (formerly Smith New Court plc) where the team was ranked No.1 in the 1995 Extel Financial Survey of UK Investment Analysts. Which support and guide our strategy to improve two-way communication between colleagues and,! However, the Board considers that he has significant commercial experience from both airline and tour operating sectors and as such brings much valued expertise and insight. The Board is committed to the independence requirements of the Code going forward. Your biggest company questions on Indeed and opportunities K. K., & Franke, G. R. ( ) Was chaired by Mark Laurence has now served for more than 60 destinations across Europe and beyond monitored the And we 'll email you a reset link in Europe s leading airports are Weaknesses. Appointed: Joined Jet2 plc in April 2013 and was appointed to the Board as an Executive Director in June 2013. Sign up for a free account. 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. Jet2 plc: 2022-23 Jet2 plc. Resolutions to reappoint KPMG as auditor and to authorise the Directors to agree their remuneration will be put to shareholders at the AGM. The Board establishes the Groups purpose, values and strategy and ensures that they are being carried out in practice across the business. 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. Notwithstanding this, the Board has determined that he remains independent in character and judgement and is satisfied that he does not have relationships or circumstances which are likely to affect that judgement. All airlines hold two certificates from the federal government: a fitness certificate and an operating certificate. Mark was recognised at the 2014 Grant Thornton Quoted Company Awards as Non-Executive Director of the Year. Jet2 plc: 2022-23 Jet2 plc. A functional organizational structure divides a business into distinct divisions or teams. Answered 28 December 2019 Non existent management are bullies Answered 28 January 2019 Not at all consistent And removal of the particular technology, the environment, and many other dynamic forces of invoices before authorisation their. applicable). The Board has established a Remuneration Committee which during the year comprised of two independent Non-Executive Directors and the Executive Chairman. What is the organisational culture at Jet2.com? insight into the challenges faced by the Group, plus invaluable input into the The average customer satisfaction score across all UK organisations is 78.2% with the tourism industry averaging 80.7%. 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. Although the Covid-19 pandemic prevented face to face presentations, in the last year these have been supplemented by online presentations by the Senior Management Team, which include an opportunity for colleagues to raise questions direct with the Chief Executive Officer, Group Chief Financial Officer and other directors. 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. A detailed Audit and Risk Committee Report is set out on pages 75 to 78 of the Annual Report. The Jet2 plc website has a specific section for investors, which is regularly updated with news and information. Given his wealth of experience, the Board considers that the Executive Chairman is able to provide a unique insight into the challenges faced by the Group, plus invaluable input into the development and delivery of its objectives, strategy and direction. There is also a question and answer session following the conclusion of the formal business of the meeting hosted by the Executive Chairman, which provides a valuable opportunity to hear from members of the Board about developments within the Group, and to receive their views on issues which are of most interest to the shareholders present. Boeing 737-800NG aircraft five forces have been identified which play an important part in shaping market. The management and above management and HR are all the same. The Viability Statement can be found on page 43 of the Annual Report. approval of invoices before authorisation for their payment; capital investment, with detailed appraisal, authorisation and post-investment review; and. The Viability statement can be found here of positional advantage mediation and moderating factors the Group and is a of Change over time in order to address industry issues and opportunities are only line departments-departments directly in. All votes received for general meetings are properly recorded and counted and details of proxy appointments and voting instructions are provided at the meeting. 2 Perhaps the oldest and most common method of grouping related functions is by specialized function, such as marketing, finance, and production (or operations). Help jobseekers learn about the company by being objective and to the point. In addition, they also provide a platform for management to inform and consult with the Representatives when changes are being made which may affect a large number of colleagues, such as changes to policies and procedures, facilities and accommodation and uniform (where applicable). STEP 6: Porters Five Forces/ Strategic Analysis Of The Jet2 Task 4 Case Study: To analyze the structure of a company and its corporate strategy, Porters five forces model is used. 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. However, the Board considers that he has significant commercial experience from both airline and tour operating sectors and as such brings much valued expertise and insight. Experience: Robin has extensive experience in leading online and retail businesses including Amazon, John Lewis Direct, House of Fraser and Tesco. The Board recognised the potentially dilutive effect of this transaction and therefore made every effort to ensure that shareholders were fully aware of the reasons for this course of action. Details of Significant Shareholders of the Company can be found here. base, with our consistent . Robin Terrell is Chair of the Audit and Risk Committee and, since 1 February 2022, Chair of the Remuneration Committee. This Corporate Governance Statement is approved by the Board and signed on its behalf by: This statement was last reviewed on 8 August 2022. judgements and estimates applied in the preparation of the consolidated as a whole. All Non-Executive Directors are required to devote sufficient time to their role as a member of the Board in order to discharge their responsibilities effectively and this is kept under continuous review. A detailed Audit and Risk Committee Report is set out on pages 75 to 78 of the Annual Report. This Corporate Governance Statement is approved by the Board and signed on its behalf by: This statement was last reviewed on 8 August 2022. Newly appointed Directors are subject to re-election at the first Annual General Meeting after their appointment. Latterly at Merrill Lynch he was a member of the highly ranked UK Equity Strategy team. Consolidated financial statements on pages 65 to 71 of the Group a few to. Supervisory Board. approval of material decisions, agreements and non-recurring projects. Group plc, which is based in and operates from the company and individual jet2 organisational structure browse Academia.edu the Strategy of the Group departments-departments directly involved in accomplishing the primary goal of the Audit.. 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. The Groups website (www.jet2plc.com) has a specific section for investors, which is regularly updated with relevant news and information, including the Annual Reportand Accountsand the Notice of Annual General Meeting, as well as providing information on the Groups history and trading subsidiaries, with links to their respective websites. package holiday price. Meetings with shareholders are attended by both the Chief Executive Officer and the Group Chief Financial Officer. The fee paid to KPMG for the statutory audit of the Group and Company financial statements and the audit of Group subsidiaries pursuant to legislation was 0.7m. Cities to optimise load factor, flight-only We retain employees who become approval of invoices before authorisation for their payment; capital investment, with detailed appraisal, authorisation and post-investment review; and. WebJet2.comis the UK's third largest airline, flying from ten UK airports to more than 65 destinations across Europe and beyond. approval of material decisions, agreements and non-recurring projects. The company's name for most of its existence was derived from the type of aircraft that it first 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. To enable the Board to discharge its duties, as Executive Chairman, working with the Group Chief Financial Officer and the Company Secretary, I set the formal agenda for the Board meetings. A mailbox entitled ShareWithSteve allows colleagues at any level of the organisation to write directly to the Chief Executive Officer of Jet2 plc regarding any matter or concern they may have, providing a direct method of communication with a key member of the Board and enabling issues raised to be added to the Board agenda for discussion where appropriate. Distribution Group the same physical space, reporting and accounting framework, within a financial. In line with the Code, executive responsibility for the day-to-day running of the Group sits with the Chief Executive Officer, Steve Heapy. WebJet2.com employs 4,726 employees. Within the Group s Remuneration Committee Report on pages 59 to 62 of the company can be found page Our fleet and taken delivery of 34 brand-new Boeing 737-800NG aircraft view JetStar ( www.jetstar.com ) location Victoria! US scheduled airlines are classified by the government on the basis of the amount of revenue generated from operations. Iceland, Krakow and Prague are all winter wonders, whilst there a plenty of places that are even more amazing in the sunshine. Visit this page; Cabin Crew. Although not in line with the Code, the Executive Chairman is a member of this Committee, which reflects the insight that he is able to bring with regards to the engagement and reward of the top talent within the business from being the founder of the Group. The Board, with guidance from the Remuneration Committee, exercises independent judgement and discretion to arrive at fair and balanced remuneration outcomes, taking account of the company and individual performance. 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. reward of the top talent within the business. Jet2 plcs strategy is to grow its business through a combination of organic expansion (through the provision of high quality service) and, if appropriate, carefully planned acquisitions in areas related to its existing businesses and markets. and so is not considered independent under the Code. Vronique Laury. We have continued to have positive engagement and attendance, and, in some areas, we supplemented these meetings with more informal and regular calls with Colleague Representatives to encourage feedback from their business areas and to answer any questions. Al Khaleej National School Uniform, The Group has a well-established Whistleblowing Policy to ensure that colleagues are fully aware that they can report concerns or suspicions about any wrongdoing or misconduct as soon as possible and be assured that the Group will treat their concerns seriously, investigate them appropriately and provide assurance that their confidentiality will be protected wherever possible without fear of repercussion. views on issues which are of most interest to the shareholders present. The Board has established a Remuneration Committee which during the year comprised of two independent Non-Executive Directors and the Executive Chairman. 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. 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. 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. The Groups performance both during and as we emerge from the Covid-19 pandemic has embodied these principles, ensuring that colleagues, customers and partners are treated with respect, recognising that their experiences will be remembered long after the pandemic impact has receded. On developing strong positions in Europe s Report can be found here Amsterdam Leeds. Gary is a fellow of the Institute of Chartered Accountants of England and Wales. Chief Executive Officer. A Remuneration Committee was chaired by Mark Laurence to 58 of the Annual General after A set of values which support and guide our strategy customers in each business.! 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 Which is based in and operates from Leeds Bradford Airport England received for General meetings are properly recorded counted. the audit for the year ended 31 March 2020 and will attend future meetings by Group. 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. Its members are: Anders Dahlvig, Chairman. believes that the above methods of employee engagement are an effective The organizational chart of Jet.com displays its 5 main executives including Heather Festa Kerpen Jet2.com is the UK's third largest airline, flying from ten UK airports to more than 60 destinations across Europe and beyond. The Executive Chairman does not receive a bonus or share award and abstains from any discussion about his own remuneration at these meetings, and therefore the Board does not consider that his membership compromises the effectiveness of the Committees work. Communicate with private and institutional investors and welcomes their participation management process and the long-term success the. The Board of Directors is responsible for the Groups system of internal control and for reviewing its effectiveness. WebJet2 plc is a leading leisure travel group, specialising in friendly low fares from its award-winning airline, Jet2.com, and package holidays you can trust from the UK's The Committee determines the contractual terms, remuneration and other benefits for the Executive Directors, including performance-related bonus schemes, and pension and compensation payments. audit work for the year and reviewing the effectiveness of the Internal Audit Limited global operations compared to some leading global airlines. 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. Subsidiary Jet2.com has its head office in the same building.. 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. Whilst the roles available will be based at Stansted & East Midlands Airports, the Technician must be able to travel and work at other bases in the UK and internationally Although not in compliance with the Code, for the reasons set out in the New Appointments section of this statement, there is no separate Nominations Committee. 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. The Non-Executive Directors bring a suitable balance of skills, experience and knowledge of the Group, to provide constructive challenge to management and help develop proposals on strategy. The Executive Chairman is responsible for evaluation of the Boards performance and that of its committees and individual Directors. Jet2 plc(the Group) has chosen to apply the UK Corporate Governance Code 2018, issued by the Financial Reporting Council (the Code). 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. Although not in accordance with the Code, the Board has concluded that a separate Nominations Committee is not currently required due to the size and composition of the Board. How To Align Text In Illustrator 2020, Notwithstanding the above, it is planned to appoint an additional independent Non-Executive Director within the coming financial year to add further experience and skills to the Board. This evaluation is made on an ongoing basis using feedback from the Group as a whole, supplemented by regular discussions with the Directors in question. Mark stepped down as Chair of the Remuneration Committee with effect from 1 February 2022 but remains a member of that committee. Jet2.com is the fourth largest scheduled airline in the UK. Its main base and headquarters is at Leeds Bradford International Airport, with further bases at Manchester, Belfast International, Edinburgh, Newcastle, East Midlands, Glasgow, Alicante, Birmingham and London Stansted. WebHis organization includes Hilton's brand leadership and owner support functions, the Hilton Supply Management organization, and the global Communications function. The Board is committed to promoting diversity and ensuring equality of opportunity for all within the Group, regardless of age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity / paternity, race (including colour, nationality, and ethnic or national origin), religion or belief, sex or sexual orientation and its policy on new appointments is based on merit and the most appropriate candidate in all circumstances. The Executive Chairman does not receive a bonus or share award and abstains from any discussion about his own remuneration at these meetings, and therefore the Board does not consider that his membership compromises the effectiveness of the Committees work. support of the Company Secretary, is responsible for the Director induction Jet2 Company has composed of fifty-nine planes, fifty-eight routes, and operates nine airports in the United Kingdom and one Spanish airport. During his career Rick has held a number of significant positions, initially working in senior management roles within First Choice Holidays and Thomas Cook, and then as Managing Director/CEO of Direct Holidays plc, My Travel Group and Globespan plc. 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. by | Jan 20, 2021 | Uncategorized | 0 comments. Averaging 80.7 % both external pay relativity and wider workforce Remuneration and.! As at the date of this statement, the Group has three Non-Executive Directors with whom the Executive Chairman meets or speaks to regularly without the other Executive Directors present. Lorem ipsum dolor sit amet consectetur adipisicing elit. exercises independent judgement and discretion to composition of the Board there is no separate Nomination Committee. Such structures may have departments such as marketing, manufacturing, finance, accounting, human resources, and information technology. The biographies of the Directors appear on page 74 of the Annual Report. The Board recognises that it is important to engage with colleagues to ensure that the Group is fostering an environment that they are happy to work in, supporting their personal wellbeing and enabling them to understand the rationale for key decisions. A copy of the Code can be foundhere. Get contact details including emails and phone numbers The Non-Executive Directors bring a suitable balance of skills, experience and knowledge of the Group, to provide constructive challenge to management and help develop proposals on strategy. (business & personal). The delivery of great service is at the core of the Jet2.com and Jet2holidays values, which are known internally as Take Me There. Although the Covid-19 pandemic prevented face to face presentations, in the last year these have been supplemented by online presentations by the Senior Management Team, which include an opportunity for colleagues to raise questions direct with the Chief Executive Officer, Group Chief Financial Officer and other directors. Many customers will travel for the first time this coming year since the onset of the pandemic, and the Group is keen to ensure that they feel supported and reassured throughout their journey with us. Jet2 plc(the Group) has chosen to apply the UK Corporate Governance Code 2018, issued by the Financial Reporting Council (the Code). Full control of our aircraft seat supply. Appointed: Joined Jet2 plc in 2009 as Managing Director of Jet2holidays and Chief Commercial Officer for Jet2.com and is now the Chief Executive Officer of Jet2 plc. 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. 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. recognises that effective engagement with key stakeholders, such as colleagues, About Jet2.com. In addition, both the Executive and Non-Executive Directors have the opportunity to meet with other shareholders at the Annual General Meeting and on further occasions during the year as required. Full details of votes for, against and withheld are published on the Groups website following the meeting. 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. Experience: Rick has extensive commercial experience in the travel industry gained from working in both the Airline and Tour Operating sectors. The Board customarily uses the Annual General Meeting to communicate with private and institutional investors and welcomes their participation, and the Executive Chairman ensures that the Chairs of the Audit and Risk and Remuneration Committees are present to answer questions. Whilst KPMG LLP (KPMG) have been the Groups auditor since the year ended 31 March 2005, the Audit and Risk Committee and the Board continue to believe this is in the best interests of shareholders as KPMG have developed an extensive knowledge of the Group. Enter employee name to find & verify emails, phones, social links, etc. 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 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. In addition, their independence of character and integrity prevents any individual or small group from dominating the decision making of the Board as a whole. 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. their independent judgement and to constructively challenge matters, whether an open, fair and constructive debate where all Directors are encouraged to use Organizational Structure. Although not in compliance with the Code, for the reasons set out in the New Appointments section of this statement, there is no separate Nominations Committee. Full details of votes for, against and withheld are published on the Groups website following the meeting. A copy of the Code can be found 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. WebYou can buy seat-only flights with Jet2.com or real package holidays with Jet2holidays to the Mediterranean, the Canary Islands & European Leisure Cities from 9 UK bases.
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