EXCELLENT SCHEDULE DELIVERY BY AIR NIUGINI
by PNG Business News - July 28, 2022
Photo credit: Air Niugini Facebook Page
National flag carrier, Air Niugini has performed exceptionally well in delivering its schedule, outperforming many airlines in Australia and the Pacific.
In June Air Niugini operated 2,260 flights with 2,104 of those serving the domestic market.
When compared with key airlines in Australia for the month of June, Air Niugini’s on time departure performance (flights leaving within 15 minutes of the scheduled departure time) sat at 82% as compared with Qantas at 58.7% and Virgin Australia with 59.8%
The cancellation rate for Air Niugini for June was 3.8% while Qantas cancelled 7.5% of all their services and Virgin Australia cancelling 5.8% of their flights.
Chief Executive Officer (CEO), Bruce Alabaster said “It’s not easy ensuring schedule integrity and with the difficult conditions under which we operate here in PNG that places further pressure on our schedule. “
“I commend all our staff, those at the check-in counter, traffic officers to operating crew, engineers, catering, flight planning and all those involved for their great teamwork, producing excellent results often under testing circumstances. Our on time performance is something we take very seriously and are always working to improve on, and to be performing at a level higher than our peer airlines in the region is a wonderful result. I encourage the team to continue to maintain the good work.
Article courtesy of Air Niugini
PNG Business News - July 11, 2022
AIR NIUGINI RESUME DIRECT SERVICES TO SOLOMON ISLANDS AND FIJI
Photo credit: Air Niugini Facebook page Air Niugini has advised the travelling public that effective from 06th August 2022, the airline will resume direct services to Honiara, Solomon Islands and Nadi, Fiji. The resumption of services has been made possible by the relaxing of border restrictions in the two countries, and flights will initially operate once a week in each direction. Air Niugini Chief Executive Officer(CEO), Mr Bruce Alabaster said, “Air Niugini is delighted to be able to resume flights to the Solomon Islands and Fiji following their suspension over two years ago at the start of pandemic when borders were closed. “ “We are confident that the resumption of these flights will boost trade, investment, and people movement between the three Melanesian countries.” The flights are scheduled to provide convenient connections in Nadi to and from Suva, Los Angeles and San Francisco. In Port Moresby these flights will allow convenient connections to and from Singapore, whilst in Honiara they will connect conveniently with Solomon Airlines domestic services around Solomon Islands. Flight PX084 departs Port Moresby on Saturdays at 09: 45am, arriving in Honiara at 1: 05pm local time, before continuing on to Nadi where it arrives at 6:00pm local time. The return service PX085 departs Nadi on Sundays at 08: 30am, arriving in Honiara at 10:30am local time. After a one-hour stopover flight PX085 departs Honiara at 11:30am local time, landing in Port Moresby at 12: 50pm. Flights will be operated by ANG’s Boeing 737 aircraft, with both Business and Economy class available, and with complimentary refreshments and entertainment on board. Article courtesy of Air Niugini
PNG Business News - April 29, 2021
Link PNG Reapplying to Buy Minority Stake in PNG Air
Link PNG and PNG Air have reported that they have reapplied to the ICCC for Link PNG to buy a minority stake in PNG Air. PNG Air and Link PNG also agree that ICCC acceptance would help Papua New Guineans and visitors. The planned joint venture between Link PNG and MRDC is focused on PNG Air being an independent airline, setting its own airfares and selling its own tickets separately from Air Niugini, according to Link PNG chairman Sir Kostas Constantinou and PNG Air chairman Augustine Mano. In a joint statement, both chairmen emphasized the importance of PNG continuing to have two separate carriers, PNG Air and Air Niugini, as well as a competitive domestic market. They mentioned that COVID-19 has lasted much longer than anyone predicted and is continuing to have a negative impact on both airlines; thus, while it is vital that we continue to work independently on a commercial basis, it is also critical that the airlines take advantage of this ability to reduce costs. “World aviation has been badly damaged by COVID-19, including in our region where the Fijian government has had to issue loan guarantees for K788 million to support Fiji Airways, whilst elsewhere governments have had to pay billions of Kina to keep their airlines alive. “We believe this move if approved, will ensure PNG’s airline industry is profitable, sustainable and competitive without having to rely on Government support. “Both airlines are ultimately owned by the people of PNG, either the taxpayer, contributors to superannuation or as a landowner so it is critical both airlines are viable.” The plan is focused on Link PNG maintaining a minority share status and all commercial roles being distinct and autonomous, according to the chairmen. the selling of all PNG Air airline tickets, including all pricing and yield control, as well as all personnel involved in these functions; PNG Air's publicity, which includes existing sales offices as well as a separate website; PNG Air's board and management will be independent; all cabin crew, sales personnel, and check-in staff will wear PNG Air uniforms; and all of PNG Air's aircraft will be painted in PNG Air livery. Back office activities that can be handled more effectively between the two carriers, as well as more efficient fleet use, will be the main integration advantages. “We believe there is a compelling case for creating a stronger independent PNG Air, across a wider network, as well as ensuring job security,” they stated. “We will also ensure the savings created will be passed back onto our customers through more affordable airfares; with the lower prices resulting from economies of scale and through the considerable cost efficiencies that are available.” The idea, according to Sir Kostas and Mano, would favour airline passengers as well as ensure job protection for both airlines and the continuation of the PNG Air brand in our skies. They also stated that “With the savings, we will generate, we will be able to pass this back onto our customers through more affordable airfares.” Before the joint venture can be finalized, both Link PNG and PNG Air will need both regulatory and shareholder approvals, including from ICCC.
PNG Business News - May 03, 2021
Mano: PNG Air Employees will be Kept
According to the company's board member, all PNG Air employees will be retained after the acquisition by Link PNG. The key goal of the acquisition, according to PNG Air chairman Augustine Mano, is to achieve a viable airline industry in order to secure PNG Air's future, creditors, and personnel said a letter from the board to management and staff of PNG Air. He said the board had reviewed and considered all practicable alternatives for reforming the company to resolve the continuing effect of the COVID-19 pandemic on domestic and foreign travel when it decided to endorse the 40 per cent shareholding to Link PNG. He stated that this agreement needs ICCC approval and that an application to that effect has been filed, with shareholder approval expected shortly. Mr Mano stated that the Memorandum of Understanding (MOU) signed in January 2021, as well as the recommendations submitted and staff questions, have all been resolved. He also said that all employees would be kept. PNG Air will continue to operate as a standalone carrier with its own board of directors and management. This is done while maintaining the identity, with the exception of areas where resource maximisation is needed to allow shareholder returns. He promised that rivalry with Air Niugini will continue until cost-cutting measures are identified and introduced. He went on to say that the benefits from this joint venture would help all core stakeholders, including employees and the general public, who will benefit from lower airfares.
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PNG Business News - August 12, 2022
Going Green: FAO-led EU-STREIT PNG Programme provides green-powered facility to local agricultural authorities to effectively service rural farmers
EU Funded UN Joint STREIT Programme in Papua New Guinea establishes a renewable energy-powered facility to support local government authorities in East Sepik Province, in delivering effective services to rural farmers and entrepreneurs. With generous support of the European Union, the FAO-led EU STREIT Programme officially opened a new 3 cluster office building on 10 August 2022, to host the Programme along with the East Sepik provincial divisions of Agriculture and Livestock, Cocoa Board and the National Agriculture Quarantine & Inspection Authority. The new-look office building is powered by 189 solar panels, which significantly reduce greenhouse gas emissions and reduces the collective dependence on fossil fuel. The solar panels supply the building with 90 KW of energy, relieving the resident agencies and authorities from relying on fossil-generated electricity for their needs, including lighting, ICT, water pumping, and temperature control. This zero-carbon-emission facility has the capacity to accommodate around 90 experts, technicians and extension service officers. Equipped with 120 batteries, the building can support staff’s operation for 36 hours in case of experiencing high cloud cover. The building, currently co-resided by the Programme and provincial agricultural bodies, will be transferred over to the East Sepik Provincial Administration at the end of the Programme and will continue to provide a sustainable base for sustainable support to agriculture-related services in the Province. Officiating the opening ceremony, His Excellency Ambassador Jernej Videtič, Head of the European Union Delegation to PNG, in his address, said: “I am happy to be here and to see that things are moving in the right direction to bring sustainable benefits to the people of East Sepik” Ambassador Videtič further highlighted that “with resources from the citizens of Europe to fund the EU-STREIT Programme in providing training, tools and support, the quantity and quality of cocoa, vanilla and fisheries products will increase. The objective is also to protect these quality products in international markets under the EU-STREIT introduced initiative of Geographical Indication.” The East Sepik Acting Deputy Provincial Administrator, Mr James Baloiloi, in his speech expressed his appreciation to the EU for funding the EU-STREIT Programme and the interventions that the Programme is doing in East Sepik and Sandaun provinces. “The STREIT Programme has gone ahead to introduce a culture of agribusiness that now enables the people of this Province and the people of Sandaun Province to have cash income that can sustain their livelihoods.” Mr Baloiloi added, “this infrastructure and building supports us and facilitates the service delivery to our people in this Province as well as Sandaun Province.” Thanking the EU for its generous funding support, Dr Xuebing Sun, the EU-STREIT Programme Coordinator, said: “the Programme has generated substantial impacts at beneficiary, local institutions and enabling business environment levels. This would not be possible with good partnership, increased ownerships and leaderships of the governments and implementing partners.” “This co-residing and close co-operation among UN agencies and their national partners in this integrated space reflect the partnership approach taken by the Programme to sustainably develop agri-enterprise activities in the region,” added Dr Xuebing Sun, adding “the new climate-friendly facility, which is fully powered by solar energy, also provides a space to welcome, advise and serve the farmers, including interested women and youth, who play very important roles along agri-food value chains”. “This kind of ‘green investment’ enables a shift to a more green economy for local institutions and infrastructure to meet cocoa, vanilla and fishery value chains stakeholders” advised Anthony Bennett, the FAO Lead Technical Officer of the EU-STREIT PNG Programme. United Nations’ implementing partners supporting the FAO-led EU-STREIT PNG present in the office include the International Labour Organization (ILO), International Telecommunication Union (ITU), United Nations Capital Development Fund (UNCDF) and United Nations Development Programme (UNDP). The EU-STREIT PNG is being implemented as a UN Joint Programme (FAO as leading agency, and ILO, ITU, UNCDF and UNDP as implementing partners), is the largest grant-funded Programme of the European Union in the Country and the Pacific region. It focuses on increasing sustainable and inclusive economic development of rural areas through increasing the economic returns and opportunities from cocoa, vanilla and fishery value chains and strengthening and improving the efficiency of value chain enablers, including the business environment and supporting sustainable, climate-proof transport and energy infrastructure development.
Paul Oeka - August 12, 2022
CPAPNG annual meet to discuss global changes
Certified Practicing Accountants of Papua New Guinea will be hosting their 23rd annual conference with about 400 participants nationwide expected to attend the two day conference organized by CPA PNG in Lae Morobe Province from August 18 to19, 2022 CPAPNG was established in 1974 and has come a long way with a lot of achievements along the way. Over the years its membership grew from mere numbers to just below 2000 which includes 40% locals and 60% non-citizens. . The CPA PNG conference is one of CPAs three significant annual events on their calendar with this year's conference theme; Is PNG prepared for the recession?" The conference will see certain key leaders in executive management roles from both the public and private sector delivering presentations in line with the conference theme. CPA PNG's Executive Director Mr. Yuwak Tau said the theme of the conference was selected because there was a decline in the global economy and the general so when that eventuates small economies tend to be affected. He added that they have basically selected the theme that was current and appropriate so that members would find relevance during the course of the conference. “The meeting is to create intellectual and interactive discussions with seasoned business leaders to present and share their ideas and experiences to find probable outcomes within their business environment and industries in times of economic uncertainty”. Some of the topics to be presented by consultants are current significant issues such as crypto currency, transport pricing, bit coin block chain technology and stress management. This were some topics that people have heard about but have not really ventured into. Mr. Tau added that it would be quite hard to measure the benefits immediately but the participants will be able to look at insights shared during the conference that would be appropriate in the areas of employment, accounting, finance, auditing and others. The conference will create an environment where participants can also share information so That they can take points to apply in their work place and industries. In relation the Kumul petroleum Holdings had also presented a cheque of K50, 000 to support the coming event at their head office. The cheque was presented by KPHL's executive General Manager Corporate Affairs, Luke Liria and was received by CPA PNG Chairman Richard Kuna. Mr. Liria said KPHL has appreciated the effort put in by CPA PNG to ensure that its members in State owned enterprises and the private sector were given appropriate level of training and as part of KPHL's corporate social responsibility and commitment they hope that their support will continue to help the organization facilitate and make sure the accounting practices is of international standards. CPA PNG's Chairman, Richard Kuna acknowledged KPHL for their support and stated that he was looking forward to seeing KPHL being a big part of the upcoming conference.
Paul Oeka - August 12, 2022
BSP: Small to Medium Enterprises Loans reaches 60% rate.
Bank South Pacific's Financial Group Ltd Chief executive officer Mr. Robin Fleming has recently announced that the bank has granted more than K200 million as loans to small to medium enterprises under its credit scheme facility that the then Marape government had released to the bank to support Small to Medium Enterprise (SME) and local businesses during the peak of the COVID-19 pandemic. Mr. Fleming said about 1523 customer loans have been approved, that is about 60% of loan approval rates since 2019. Prior to this announcement BSP and the Department of Commerce and Industry (DCI) had agreed to increase the maximum loan under the small-to-medium enterprise (SME) credit enhancement facility to K5 million. The previous limit was K3 million when the Government first released K100 million as security to the bank under its K200 million SME allocation for BSP to rollout the loan facility last year. Fleming stated that even though they have exhausted and rolled out the bulk of the governments relief funds for SME's they will still be running the SME loan program under its credit facility scheme “At this stage, BSP has not received the funding planned for this year but that is not preventing BSP from giving loans under the facility”. “There remains significant capacity for BSP to continue to assess, approve and funds loans under the facility”. “The agreement with the Government did provide for momentum in the SME facility to be maintained while allowing for the Government budget and funding process to be adhered to”. As part of the government SME relief funding, Commercial Banks were allocated K200 million with BSP Financial Group receiving K100 million, NDB K80 million and another K20 million was allocated to the department of Commerce and Industry BSP could not comment on how the National Development Bank (NDB) is dealing with the K80 million it received, but the intent, when discussions were initiated, was that BSP would be lending to more mature SMEs and NDB to startup ventures. In addition to enabling SMEs to access lower cost of funds through the facility with BSP, the bank has also made it a responsibility to ensure that Government funding is preserved by not approving loans that have a higher risk of default.