134 O N E R E P O R T 2 0 2 2 OVERVIEW BUSINESS OVERVIEW AND PERFORMANCE CORPORATE GOVERNANCE FINANCIAL INFORMATION SUSTAINABLE BUSINESS DEVELOPMENT Opportunity Type Potential Financial Impact Realisation Strategy Administrative efficiency Digitalisation strategy reduces manual paperwork and cost of paper, printing and storage of documents. Our on-going digitalisation programme has minimised all paper documentation on board and in our office processes. Of the remaining ones, we continue to work with regulators to move towards e-documentation for regulatory records-keeping and submissions such as e-Voyage Reports. Resource efficiency Reduction of fuel utilisation via improvements in air traffic management and A321neo fleet conversion will further reduce operating costs and ensure that we maintain its commercial advantage as the airline with the lowest Cost/ASK and CO2/ASK in the industry. We engage in regular consultations with civil aviation authorities to implement new fuel efficiency and emissions reduction measures. This includes proposing measures to be included for monitoring and tracking in State Action Plans on Emissions Reductions. Resource diversification Shift to SAF utilisation diversifies fuel supply and reduces exposure to rising energy costs and growing carbon regulation. The Group has commenced discussions with fuel suppliers on making sustainable aviation fuel (SAF) available in our hubs. Opportunity Type Potential Financial Impact Realisation Strategy Products & Services Attract travellers keen to minimise their carbon footprint and experience sustainable travel activities. We potentially gain from increased market share among responsible travellers and earn ancillary income from sale of sustainable travel activities. In 2023, we plan to implement a voluntary offset programme to enable travellers to contribute to their carbon offsetting. Market Recognise that climate impact prone destinations may also be strong revenue generators in the recovery and rehabilitation phase. Resume commercial flights to affected destinations as soon as it is safe to do so to support rebuilding programmes. Resilience Continue to strengthen our network connectivity in hubs with reduced climate risk. Invest in climate forecasting tools and services to inform fleet planning and route planning strategies.
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