which approved PNG Air’s Creditor Scheme of Arrangement application under Part XVI of the Companies Act 1997. This was the first initiative of its kind in the country and enabled PNG Air to restructure its debts while continuing operations, safeguarding the nation’s two-airline policy that is critical for the national interest. Unlike government- supported airlines, PNG Air relies heavily on the backing of shareholders and creditors, both domestic and international, to successfully execute its restructuring plan. The company extends its gratitude to stakeholders for their unwavering support, which played a critical role in this achievement. Global aviation representatives on “The award acknowledges PNG Air’s significant achievements in navigating post-COVID restructuring challenges alongside notable carriers such as Philippine Airlines and Hong Kong Airlines”
in attendance were also certified to train other members of the PNG Air community. This will permeate the benefits of this technology into the airline’s safety and commercial management systems. Partnering with SkyNet Aviation to deliver advanced surveillance technology fits with PNG Air’s ongoing commitment to strive for the best safety measures and commercial outcomes for customers. PNG Air recognised as Restructuring Airline of the Year 2024 PNG Air’s restructure post-pandemic has been recognised with a leading aviation industry award, presented in Singapore on November 5 at Growth Frontier Asia Pacific – Airline Economics Conference 2024. The Restructuring Airline of the Year Award, decided by a panel of global industry representatives, was received in person by PNG Air chief executive officer Brian Fraser and chief financial officer Nisaal Jai, and acknowledges the airline’s significant COVID restructuring challenges alongside notable carriers such as Philippine Airlines and Hong Kong Airlines. The airline’s restructuring process began with a landmark decision by the National Court of PNG on December 15, 2023, achievements in navigating post-
PNG Air CFO Nisaal Jai (left) and CEO Brian Fraser (centre) with Melbourne aviation expert Tim Robinson at the Airline Economics Conference 2024 in Singapore on November 5
the Singapore panel praised PNG Air’s restructuring plan for its comprehensive scope, addressing not only financial and legal issues but also workplace culture, skills development, and operational enhancements. The initiative aimed to ensure sustainable growth and a secure future for PNG Air’s workforce while delivering safe and reliable services to customers. PNG Air is now poised for expansion and rejuvenation of its fleet through the acquisition of modern aircraft. Looking ahead, PNG Air reaffirms its commitment to exceeding customer expectations. The company pledges to provide safe, reliable air
transport underscored by quality service, all while maintaining competitive price points. This strategy forms part of PNG Air’s vision of “Striving to be Papua New Guinea’s first choice domestic airline”. Three-year Maintenance Organisation Certificate granted PNG Air has been awarded a three- year Maintenance Organisation Certificate (MOC) that allows its own Maintenance Repair Organisation (MRO) team to service its fleet. The certificate was granted after an audit conducted by airline safety and security regulator CASA
PNG (Civil Aviation Safety Authority) in September 2024.
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