We recognise that good governance is paramount. It is an essential part of our brand values and something our customers, shareholders, employees and other stakeholders place considerable value in. Our Board combines deep knowledge of the aviation sector with other industry experience, so that our business benefits from a balance of both.
The Board carries ultimate responsibility for the effective direction and control of the Group’s business and for maintaining sustainable value for our shareholders and promoting the long-term success of the Company. It also establishes the Company’s purpose, values and strategy. The Board maintains a schedule of Matters Reserved for its approval.
The Group Executive Team are responsible for implementing the Group's strategy as approved by the Board, recommending capital expenditure and investments for board approval, monitoring financial, service and operational performance and allocating resources as agreed by the Board.
The roles of Chair and Chief Executive Officer are not exercised by the same individual and there is a clear division of responsibilities between them. The Chair is responsible for the leadership and effectiveness of the Board. The Chief Executive Officer is responsible for leading the day-to-day management of the Group. The division of these responsibilities has been set out in writing and approved by the Board.
As we move forward with our growth plans, good governance is paramount. We are committed to maintaining the highest standards of corporate governance and we believe it to be fundamental to our long-term success. The Board supports the principles and provisions set out in the UK Corporate Governance Code issued by the Financial Reporting Council and consider it their duty to manage the Group in accordance with these. The Board sets the strategic aims of the Group and rigorously reviews trading performance against strategic initiatives and against financial targets set at the beginning of the year.