At Jazeera Airways Group, corporate governance is about commitment to values and ethical business conduct. It is about how we manage our business. This includes our corporate and other structures, our culture, policies and the manner in which we deal with various stakeholders. Accordingly, timely and accurate disclosure of information regarding the financial situation, performance, ownership and governance of the company is an important part of our corporate governance. This improves public understanding of the structure, activities and policies of the organization. Consequently, the Jazeera Airways Group is then enabled further to attract investors, and enhance the trust and confidence of the stakeholders.
Accordingly, we always seek to ensure that we attain our performance goals with integrity. Our Board exercises its fiduciary responsibilities in the widest sense of the term. We also endeavor to enhance long-term shareholder value and respect minority rights in all our business decisions.
Our corporate governance philosophy is based on the following principles:
- Satisfy the spirit of the law and not just the letter of the law.
- Be transparent and maintain a high degree of disclosure levels.
- Make a clear distinction between personal conveniences and corporate resources.
- Communicate externally, in a truthful manner, about how the company is run internally.
- Comply with the laws in the countries in which we operate.
- Have a simple and transparent corporate structure driven solely by business needs.
- Management is the trustee of the shareholders’ capital and not the owner.
The Board of Directors is at the core of corporate governance practice at Jazeera Airways Group. The Board oversees how the Management team serves and protects the long-term interests of all our stakeholders. We believe that an active, well-informed and competent Board is necessary to ensure the highest standards of corporate governance.
In compliance with the Corporate Governance Code issued by the Capital Markets Authority (CMA), we are pleased to submit to you herewith the development of the implementation of corporate governance standards within the company.