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an amazing group of people who work
well together and are passionate about
our dream, namely to enable everyone to
fly. We have also established an amazing
dynamic with our Allstars – just as they
support our dreams, we support theirs. We
have always encouraged our Allstars to
pursue their ambitions, and have provided
them all the support we can. The Allstars
who feature on the cover of this annual
report, and whose stories are captured in
the dividers, are good examples of the way
we have grown our talents internally.
Over the years, we have streamlined
our talent management processes and
implemented more mechanisms to be able
to attract the right talent and then grow
them. A key hire during the year was that
of our Chief People & Culture Officer who
is creating a better framework to ensure
we meet our human capital needs while
meeting the needs of our people. Along
with the fast pace at which we are growing,
we have been intensifying our recruitment
initiatives; some 30 recruitment drives
were held across the Group during the
year. We also offered permanent positions
within the company to no less than 30
interns. We believe in exposing our interns
to our Asean philosophy and culture, and
do this via cross-country postings. During
the year, 11 interns from Korea were placed
in Malaysia or Thailand. At more senior
levels, we are providing high-performers
the opportunity to pursue MBAs at the Asia
School of Business.
Our objective is to nurture our talent and
develop a strong pipeline of future leaders
so that all senior positions can be filled by
Allstars who have a deep understanding
of the AirAsia way, and will be able to keep
strengthening our culture. This culture has
got us to where we are, and underlines our
long-term sustainability.
RISKMANAGEMENT & MITIGATION
The aviation industry has its share of
inherent risks. However, by identifying
and monitoring our risks, we are better
prepared to prevent and manage them to a
level that is practicable.
Financial Risks:
Our most pertinent financial risks
revolve around volatilities in fuel
price, currencies, interest rates and
maintaining adequate liquidity. These
are managed via hedging as well as
securing the financing for aircraft
purchases a year in advance (please
refer to our Financial Review, under the
section on ‘Cash Flow & Debt’).
Operational Risks:
We protect our assets from adverse
operational scenarios by strengthening
the Group’s governance as well as
various frameworks that support the
efficient and effective identification and
assessment of risks.
Risks that are monitored and managed
include those relating to critical
information systems outage, cyber
intrusion, market competition, loss
of critical airport services and loss of
physical workspace. We have put in place
systems and back-up plans for each risk,
and continuously test them for efficacy.
Given our reliance on IT systems, we have
worked towards and achieved certification
in ISO/IEC 27001 Information Security
Management System (ISMS).
To ensure business continuity, we have
specific business plans for our main
hubs and work closely with the relevant
airport operators and authorities to ensure
we can continue to operate should any
incident take place. We have also set up
an alternative workplace to RedQ in the
event of a crisis, and are strengthening our
commitment to business continuity and
disaster recovery.
For a fuller report on our risk policies and
processes, please refer to our Statement
on Risk Management and Internal
Control (page 197), and our Sustainability
Statement (page 156).
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AirAsia Group Berhad
PERSPECTIVE
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