Airline Economics+ / AE Airline Solutions Ltd Ethics Policy
Update 05/01/25
In the exercise of their ownership rights, they should:
– Configure their company as an instrument at the service of creating wealth, making their indisputable objective of obtaining a profit compatible with sustainable, environmentally sound social development, making certain that all activities are carried out in an ethical and responsible manner.
– Configure the company as a medium and long-term entity, not compromising its continuity through an interest in short-term enrichment.
– Exercise voting rights at the General Shareholders’ Meetings on an informed and responsible basis and, in doing so, always demand ethical behaviour from the company, including approval of the Code of Ethics and orchestrating effective application thereof.
– Search for a fair balance between capital and work, in such a fashion that, through their salaries, workers receive just compensation for their work.
– Appoint as directors and management persons who meet the requisites established regarding adequate preparation and experience, and who carry out management functions in a professional, ethical and responsible manner.
– Define and defend the mission and values of the company in accordance with its Code of Ethics.
Directors and Management
In the exercise of their administrative and management functions, they should:
A) In relation to Management functions:
– Carry out their activities in a professional, ethical and responsible manner.
– Comply and demand compliance with the Code of Ethics of the company and, to that end, make the Code known and establish appropriate mechanisms to guarantee application. In particular there should be a body, ideally an Ethics Committee, made up of people with sufficient power to apply the Code and correct infractions.
– Inform owners or shareholders periodically and accurately as to the situation of and outlook for the company.
– Promote effective participation by shareholders at the General Meetings, especially by facilitating the exercise of information and voting rights.
– Comply and demand compliance with generally accepted accounting standards and principles, and establish internal and external risk management and control systems in accordance with the characteristics of the company.
– Keep the books and ledgers of the company in an accurate and honest manner, in order to permit that information be obtained and decisions be taken on an informed and responsible basis.
– Provide external and internal auditors of the company with all such information and explanations as may be required to carry out their work.
– Subordinate their own interests to those of the company when acting on behalf and in representation thereof and not use corporate assets in their own benefit, except with due transparency, prior authorisation from the relevant corporate body and in exchange for consideration deemed appropriate on the market.
– Immediately notify the administrative body as to any event or situation which would represent or could give rise to a conflict between the interests of the company and the individual interests of the director or manager, and abstain from intervening in the resolution.
– Facilitate the transparency of and control over their remuneration in such a way that it is guaranteed to be appropriate to their level of responsibility and performance and to the characteristics of the company.
– Maintain as confidential the background, data and documents to which they have access by virtue of their functions in the company, even when they no longer carry out such functions.
– Make payment and comply with debts incurred by the company without unjustified delay or breach, and collect on balances due with the diligence required in each case.
– Prepare and maintain in place a succession plan for key positions within the company, to ensure that continuity of the company does not depend on the presence of any given director or manager.
– Choose their collaborators and subordinates in accordance with the principles of merit and capacity, looking only to fulfil the interests of the company.
B) In relation to suppliers and clients of the Company:
– Maintain ethical and licit relationships with suppliers of goods and services.
– Search for and select only suppliers whose business practices respect human dignity, are not in breach of law and do not place the company’s reputation in danger.
– Select suppliers on the basis of the appropriateness of their products or services, as well as of their prices, delivery conditions and quality, not accepting or offering gifts or commissions, in cash or in kind, which could alter the rules of free competition in the production and distribution of goods and services.
– Aspire to excellence in the goods and services of the company in such a way that clients and consumers obtain the satisfaction expected therefrom.
– Guarantee the products and services of the company and deal quickly and efficiently with consumer and user claims, with a view to achieving satisfaction beyond mere compliance with prevailing legislation.
C) In relation to competitors of the Company:
– Not abuse a dominant or privileged market position.
– Compete in good faith with other companies cooperating to achieve a free market based on mutual respect between competitors and abstaining from engaging in unfair practices.
– In particular, not take clients from other competitors employing unethical methods.
D) In relation to employees of the Company:
– Treat employees with dignity, respect and justice, taking into consideration their different cultural
sensitivities.
– Not discriminate against employees on the grounds of race, religion, age, nationality, sex or any other personal or social condition different from the conditions of merit and capacity.
– Not permit any form of violence, harassment, or abuse at the workplace.
– Recognise the rights of association, union membership and collective negotiation.
– Promote the professional development, training and promotion of employees.
– Link remuneration and the promotion of employees to their conditions of merit and capacity.
– Establish and communicate clear criteria and rules which maintain a balance between the rights of the company and those of employees in hiring processes and in the separation thereof, even in the case of a voluntary change in employee.
– Guarantee health and safety on the job, taking any such measures as are considered reasonable to maximise prevention of occupational risk.
– Look to reconcile work at the company with the personal and family life of employees.
– Look to achieve the occupational integration of persons with incapacities or handicaps, eliminating barriers of all kinds in the ambit of the company in order to achieve insertion.
– Facilitate the participation of employees in the social action programmes of the company.
E) In relation to the civil society:
– Respect human rights and democratic institutions, and promote them wherever possible.
– Maintain the principle of political neutrality, without interfering politically in those communities where they carry out their activities, also as a demonstration of respect for the different opinions and sensitivities of people related to the company.
– Maintain licit and respectful relationships with public authorities and institutions, not accepting or offering gifts or commissions in cash or in kind.
– Make contributions to political parties or public institutions only in accordance with prevailing legislation and, in any case, guaranteeing transparency.
– Collaborate with Public Entities and non-governmental entities and organisations dedicated to improving levels of social attention for disadvantaged persons
Reliance on Information Posted & Disclaimer
It is noted and agreed by all users that Airline Economics+ / AE Airline Solutions and all trading names/brands associated with the same shall have no liability whatsoever for any financial/material loss and/or financial or material damage(s) however it arises, resulting from the utilization of this website and the databases and information contained therein. The materials contained on our site are provided for general information purposes only and do not claim to be or constitute legal or other professional advice and shall not be relied upon as such. Whilst every effort has been taken to ensure the accuracy of the information provided in these pages and on this site in general, it is your responsibility to check the accuracy of relevant facts and opinions given on the site before entering into any commitment based upon the same.
Sustainability Policy
Airline Economics+ / AE Airline Solutions Ltd (AEAS) and all trading names/brands associated with the same
AEAS believe in the value of sustainable actions. We commit to reduce our use of fossil fuels, natural resources,
empower our people and limit our environmental impact on the planet. We pledge to increase Social value through
everyday operations, leaving a legacy for the communities in which we work to support a brighter future for all.
This policy sets out how we manage our approach to be a sustainable, environmentally responsible and energy efficient
business. It applies to all employees, in all our operating countries.
Policy objectives
The objectives of this policy are to:
• Deliver sustainable profitable growth while satisfying our moral, legal and contractual obligations;
• Have satisfied clients;
• Enable our people to be engaged, safe and respected;
• Make a positive contribution to the communities in which we work;
• Protect the environment by preventing or mitigating our adverse environmental impacts (including prevention of
pollution) and those environmental conditions on our organisation;
• Reduce our energy consumption and costs and enhance our environmental performance;
• Have an aligned supply chain; and
• Ensure our sustainable approach is applied to all new services and markets.
Requirements
Moral, legal and contractual obligations: We must understand and fulfil our moral, legal and contractual
obligations and ensure these are taken into account in our operations. Contractual obligations must be
documented, and processes must be in place to evaluate fulfilment of these.
Clients: All our businesses must have the right systems and processes in place to nurture relationships with clients
and provide the reassurance that we will deliver sustainable development opportunities throughout our service
delivery. Customer satisfaction is the key measure of our success in this area and all operations and customer
relationship management should be undertaken with client satisfaction in mind.
People: We must ensure we have the right talent pipeline to fulfil all the future needs of our businesses. A
comprehensive people strategy makes sure that we provide the performance management, engagement and
leadership training to help our people achieve their full potential. This will include group-wide communications
campaigns, e-learning programmes and regular employee engagement to measure success. We must make sure
that the well-being of our people, and by extension our clients and the general public, is safeguarded while at
work. Our Health and Safety systems and supporting programmes identify risk and have mitigation measures in
place to drive safe working behaviours. Our policy requirements detailed within our People policy and Inclusion
policy and Health and Safety policy supports these requirements.
Social Value & Responsible Business: Contributions should be made to the communities in which we work. Through
the AEAS we encourage all our stakeholders to support social mobility programmes under Education,
Environmental and Energy management: We must make sure that our people understand our environmental
impacts and are provided with the information and resources to reduce them. Sustainability awareness must also
include looking at opportunities to enhance our environmental and energy performance. We will implement and
document environmental, energy and carbon management systems to reduce and mitigate our impacts wherever
possible in the journey to a net zero carbon future.
Supply chain: We will strive to provide sustainable value on every contract and encourage our supply chain partners
to support us in achieving our clients’ sustainable objectives and drivers to maximise value for all our stakeholders.
We will act in a responsible manner when it comes to selecting supply chain partners and use our influence to
enhance the environmental performance throughout the value chain. Small and medium sized businesses, minority
owned organisations, voluntary, community and social enterprises will be used where viable as part of our supplier
engagement strategy. We will support energy and environmental performance improvements in the design,
procurement, operation, maintenance and modification of our facilities, equipment and venues.
New markets: We must understand and adopt our commitment to sustainability, environmental impacts and
energy reduction when looking at growth opportunities in new markets – whether that is organic growth or
acquisitions. We include a robust sustainability due diligence as part of the process when looking at new potential
markets.
Report our performance: We will report publicly on our environmental emissions and impacts within our Annual
Report. We are measured by a number of external Sustainability Indexes and will achieve and
maintain the highest standards as applicable to our business.
Responsibilities
The Managing Director is responsible for:
• Reviewing, endorsing and achieving this policy’s aims.
The Board Directors are responsible for:
• Administering this policy;
• Developing and rolling out the supporting strategies; and
• Communicating sustainable, energy, environmental and social value information to relevant interested stakeholders.
The Sustainability Steering and Working Groups are responsible for:
• Providing the framework for setting and reviewing objectives and targets; and
• Maintaining regular reviews of our performance and update the policy as required.
Employees are responsible for:
• Carrying out their work in line with this policy and associated procedures;
• Challenging any behaviour that falls short of the expectations of this policy; and
• Identifying any breaches of this policy and reporting them to their line manager.
What will successful implementation of this policy achieve?
• Qualitative and quantitative data trends that are continually improving and publicly reported;
• Recognition by external bodies in the form of nominations, awards and accreditations; and
• Improved benchmarking results when examining our performance against our peers or when audited by
independent assurers and external groups.
