Corporate Governance

Corporate Governance Statement

HELIFIX Operations Ltd is committed to upholding high standards of corporate governance to ensure ethical leadership, transparency, operational excellence, and long-term value creation for all stakeholders, including clients, regulatory authorities, employees, and communities we serve across Papua New Guinea.

1. Board Structure and Leadership

Board of Directors

  • Provides strategic direction, oversight, and accountability.
  • Ensures HELIFIX complies with PNG Civil Aviation Safety Authority (CASA), PNG Companies Act, and other relevant laws.
  • Includes a mix of executive and independent non-executive directors with aviation, engineering, logistics, finance, and governance experience.

Chairperson

  • Leads the Board impartially.
  • Ensures effective functioning and independence of the Board.

Managing Director / CEO

  • Responsible for executing the company’s strategy.
  • Oversees daily operations, stakeholder engagement, and risk management.

2. Governance Principles

  • Accountability – Clear roles and responsibilities, with performance measured against key operational and financial metrics.
  • Integrity – Business is conducted ethically, in compliance with aviation regulations, safety standards, and anti-corruption laws.
  • Transparency – Open communication with regulators, partners, and clients.
  • Responsiveness – Quick and compliant response to emergencies, aviation incidents, or operational risks.

3. Committees and Oversight Functions

a) Safety and Compliance Committee

  • Monitors adherence to aviation safety protocols.
  • Oversees training, audits, and incident investigations.

b) Audit and Risk Committee

  • Reviews financial integrity, internal controls, and risk mitigation frameworks.
  • Works with external auditors to ensure accurate financial reporting.

c) HR and Remuneration Committee

  • Oversees recruitment, performance, succession planning, and compensation aligned with company goals.

4. Risk Management

  • Maintains robust risk assessment processes, including operational, legal, environmental, and reputational risks.
  • Implements business continuity plans, especially for remote and high-risk operations (e.g., medevac, seismic support, election logistics).

5. Ethical Conduct and Corporate Responsibility

  • Adheres to a Code of Ethics and Anti-Bribery Policy.
  • Ensures compliance with local and international aviation standards (CASA PNG, ICAO, IATA).
  • Promotes diversity, local employment, and capacity building in PNG’s aviation sector.
  • Supports national priorities like defense, elections, disaster response, and rural development.

6. Stakeholder Engagement

  • Regular consultations with government agencies (e.g., Mining, Government, Commercial and Industrial Partners).
  • Transparent engagement with landowners, local businesses, and suppliers.
  • Collaboration with community and provincial authorities to enhance access and logistics support in remote areas.

7. Sustainability and ESG

  • Commits to Environmental, Social, and Governance (ESG) values.
  • Minimizes environmental impact of helicopter operations.
  • Supports health and education logistics (e.g., medical evacuations, school outreach flights).
  • Aligns with PNG’s national development goals.