- New survey reveals well over a third of travellers have had to pay more to make alternative travel plans following a delayed flight
- Nearly two thirds would be likely to use an app which alerted family, friends and work colleagues if their flight was disrupted
- Cirium, the aviation data and analytics experts, say flight delays and cancellations cost airlines over US$30bn a year
Over a third of global travellers (36%) say they don’t get enough information about delayed and cancelled flights, according to aviation and data analytics experts at Cirium.
A new survey for Cirium reveals the impact of flight delays and cancellations and the need for better management of flight disruption, with more communication via proactive flight updates for affected passengers.
Almost two thirds (61%) of those surveyed said that they would be likely to use an app which alerted their friends, family or company about their delay.
In 2018, approximately 3.9 million flights – or 10,700 a day – were delayed by over 30 minutes or cancelled globally, affecting more than 470 million passenger journeys around the world.
Flight delays and cancellation cost airlines globally US$30bn a year in lost revenue, in addition to costs borne by their passengers.
Airline flight delays and cancellations are caused by a wide range of factors, such as technical issues with aircraft, bad weather, air traffic control problems, strikes, medical diversions and congested airports, among many others.
The global YouGov study conducted for Cirium in the UK, US, UAE and China, showed more than a third of travellers worldwide (35%) who had experienced a delayed or cancelled flight, did not find it easy to change their travel plans, with well over a third (40%) left out of pocket after being forced to pay more to make alternative travel plans.
Airlines also had to bear the massive cost of disruption with flight delays and cancellations costing the equivalent of US$7 for every departing passenger – slightly less than the airline’s net profit per person per departing flight.
Jeremy Bowen, Cirium Chief Executive Officer, said: “Flight delays and cancellations are an unfortunate aspect of modern air travel and can have a big impact on travellers, whether flying for business or leisure. We recognize that the cost of disruption for airlines is also a significant problem. While our survey reveals well over a third of passengers still have to pay more for alternative travel plans, airlines can proactively issue flight alerts ahead of travel and re-allocate tickets without fees to take the sting out of flight disruption. We all want to travel stress free and get people to where they want to go, which is why at Cirium we work closely with airlines around the world on initiatives which reduce the impact of disrupted flights.”
The survey revealed nearly two thirds (57%) of those polled only found out about their flight delay or cancellation once they had reached the airport. When asked 29% said that they would prefer to be informed about a delay through a text alert with another two thirds (61%) saying they would use an app which alerted their friends, family or company about their delay.
More than double (48%) said that they would be most frustrated if their leisure flight was delayed or cancelled compared to the 21% who would be most frustrated if a business flight was cancelled.
Over a third of global travellers would be most sympathetic if a flight was disrupted due to bad weather (35%) followed by technical issues with their aircraft (30%). However, only a tiny 5% would be most sympathetic with delays or cancellations due to problems caused by air traffic control.
Cirium enables the wider travel industry to manage the impact of disruption with intelligent data and analytics solutions. For example, Cirium analyzes more than 70 million passenger journeys annually to provide meaningful insights and keep the travel industry in motion.
This data is used by a wide range of customers, such as airlines and airports, to improve the travel experience by smart devices and metasearch engines, like Google, Amazon and Expedia, to provide information directly to passengers, enabling them to make more informed choices when on the move.
Cirium’s data and analytics divisions have been the first to bring innovative solutions to market, such as the first to automate the ticket waiver process during times of flight delays and cancellations.
It employs over 400 technologists, analysts, data scientists and market experts in the UK, US, Europe, Middle East, Indiaand Asia-Pacific.
The group has significantly grown in recent years with the acquisition of leading data intelligence companies, including Ascend, Innovata, Diio and FlightStats.
Arçelik tops DHP Household Durables industry in S&P Global Corporate Sustainability Assessment with highest ESG score
Arçelik’s continuous commitment to sustainability has resulted in the company achieving the highest score for the fifth year in a row
ISTANBUL, Nov. 28, 2023 /PRNewswire/ — Arçelik A.Ş. (ARCLK: IST, “Arçelik”), the global leading consumer durables and electronics manufacturer, scored 86/100 (Score date: 22/09/23) in the 2023 S&P Global Corporate Sustainability Assessment (CSA), which evaluates the world’s largest companies and assesses their sustainability performance and environmental, social, and governance (ESG) efforts.
The company achieved the highest score out of 46 companies assessed in the DHP Household Durables Industry. This announcement highlights Arçelik’s continuous commitment to a sustainable future and places the company once again as the benchmark brand in the manufacturing industry.
The recognition follows the 2023 United Nations Global Assembly Conference (UNGA), where the company has joined the Forward Faster initiative to support acceleration of 2030 goals and made significant commitments in three key areas: Climate Action, Water Action, and Sustainable Finance.
Arçelik has also pledged its commitment to the Science Based Targets Initiative, aiming to become a net-zero company as of 2050 in line with the Science Based Targets Initiative (SBTi) Corporate Net Zero Standard. This means that Arçelik will take a more ambitious step and update its near-term approved science-based targets and set a long-term target according to 1.5-degree scenario.
These net-zero targets will lead Arçelik to reduce its global Scope 1- 2 and Scope 3 emissions by 90% by 2050, using 2022 base year. This will be realised through innovative actions in across its entire value chain. Investing in qualified nature-based and/or technology-based carbon removal projects will address the 10% residual emissions in line with the SBTi Corporate Net Zero Standard.
Commenting on Arçelik’s consistent inclusion in the Dow Jones Sustainability Indices, Hakan Bulgurlu said, “It is a privilege to have achieved the highest score on the DJSI for the fifth consecutive year – this recognition is a significant accolade for our business. Arçelik’s efforts towards building a more sustainable future, not only for our company but also for our customers, are consistently evolving. Sustainability is deeply ingrained in every aspect of Arçelik’s value chain. Our actions are aimed at creating a positive domino effect; it’s about encouraging consumers to make more sustainable purchasing decisions and to incorporate habitual changes into their daily lives. Together, these changes will help shape the future of our planet, society, and health for the better. I am excited about what lies ahead, fueled by our company’s successes to-date, with an everlasting passion to deliver even more positive changes for the future, including fulfilling our science-based targets to reduce our Scope 1, 2, and 3 GHG emissions.”
With its impressive ESG score and ongoing commitment to sustainability, Arçelik continues to inspire other companies to prioritize environmental responsibility, social impact, and good governance practices. By setting high standards and leading by example, Arçelik is making a significant contribution towards building a more sustainable future for all.
Notes to editors
For more information on Arçelik’s sustainability performance, please refer to its Sustainability Report 
ABOUT S&P DOW JONES INDICES AND DOW JONES SUSTAINABILITY INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.
The DJSI are float-adjusted market capitalization weighted indices that measure the performance of companies selected using environmental, social and governance (ESG) criteria. The DJSI, including the Dow Jones Sustainability World Index (DJSI World), were launched in 1999 as the pioneering series of global sustainability benchmarks available in the market. The index family is comprised of global, regional and country benchmarks. Arçelik has featured in the DJSI since 2017.
The full results and list of DJSI constituents are available at https://www.spglobal.com/esg/csa/
For more information about the DJSI methodology, please visit: https://www.spglobal.com/spdji
With over 40,000 employees throughout the world, Arçelik’s global operations include subsidiaries in 53 countries, and 31 production facilities in 9 countries and 14 brands owned or used with a limited license (Arçelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Altus, Dawlance, Voltas Beko, Singer*, Hitachi*). Arçelik’s 30 R&D and Design Centers & Offices across the globe are home to over 2,300 researchers and hold up to 3,000 international registered patent applications to date. Arçelik’s vision is ‘Respecting the World, Respected Worldwide.’
- Licensee limited to certain jurisdictions.
HIVENTURES: HUNGARIAN AGRICULTURE ON THE RISE – KEEP AN EYE ON THESE COMPANIES
BUDAPEST, Hungary, Nov. 28, 2023 /PRNewswire/ — Central and Eastern European member states play a significant part in the agricultural production and economic performance of the European Union. While the EU’s agricultural policy focuses on supporting the agriculture of the region’s the member states, food safety is becoming a more urgent issue due to climate and geopolitical changes, which encourages the founding of developments within the sector. In recent years, Hungary has seen a significant rise in capital investments in agriculture, in line with current trends. Following numerous successful investments, agro-technological companies producing for export are poised for continued growth. Hiventures, a member of the MFB Group, offers the right financing environment and opportunities for development and expansion.
UBM Holding Nyrt.: As the leading feed industry, grain, and protein crop trader in the region, the company group successfully increased its capital on the Budapest Stock Exchange by approximately 13.5 million euros last year through Hiventures’ corporate investment. This capital infusion has solidified the financial stability of the company group, enabling them to expand not only within Hungary but also into the Romanian and Slovak markets, which will further boost their export market share.
The group has established a presence in Austria, Romania, Slovakia, and Serbia, generating almost half of their sales revenue from export activities. Leveraging high-quality raw materials and collaborating with foreign partners, they produce 14,000 tons of premix annually, in high demand.
Civita Food Kft.: Likewise, the Civita group, which went public this summer with support from Hiventures, aims to enhance its exports and to develop of innovative products. The company, specializing in corn processing, flour, semolina, corn oil, and gluten-free pasta, sees significant potential in the gluten-free foods market due to efficiency advancements.
The group has established a presence in numerous countries in Central and Eastern Europe with its range of milling products and gluten-free pasta. Through innovative developments, their new milling technology allows for the complete removal of the corn germ from the corn grain, making it suitable for pressing.
Szatmári „Rege” Konzervgyár Kft.: Szatmári Konzervgyár Kft. is a key supplier in the EU’s market for fruit and vegetables, preserves and pickles that are processed without preservatives and are sourced from the Eastern Hungarian region, which is particularly important for Hungarian agriculture. More than 70 percent of the factory’s products are sold outside the borders, with pickled cucumbers being a standout product. The raw materials for production are sourced from domestic suppliers, covering approximately 3,000 hectares, with particular emphasis on controlled organic farming required for organic products.
EKO Konzervipari Kft.: The company, also operating in the eastern part of Hungary, has been producing canned products for more than 50 years. Utilizing modern sealing (vacuum) and heat treatment (sterilization, pasteurization) technologies, they produce preservative-free foods, including green peas, sweet corn, canned beans, and various pickled products. Thanks to their reliable and well-established logistics system covering both eastern and western operations, the company achieves an export rate of around 70%. Following a successful financial restructuring supported by Hiventures, EKO has recently entered joint management and ownership with Szatmári Konzervgyár, providing an additional guarantee for quality production and the continued development of both companies.
Due to Hiventures’ reliable and predictable operations, coupled with their educational initiatives, capital investment is gaining popularity not only in the agriculture sector but also among medium and large companies across various industries. Aligned with efforts for economic development, the capital fund manager has contributed to the development of nearly 40 Hungarian companies by disbursing around 100 million euros over the past three years.
PAAMC HK Wins ESG Investing Award for Three Consecutive Years
HONG KONG, Nov. 28, 2023 /PRNewswire/ — Ping An of China Asset Management (Hong Kong) Company Limited (“PAAMC HK” or “Company“), the offshore asset management arm of the Ping An Insurance (Group) Company of China, Ltd. (“Ping An“), was bestowed the ESG Leading Enterprises Awards 2023, recognized in the category of “ESG Investing”. This marks the third consecutive year that the Company has received this prestigious recognition.
As a pioneer embodying Ping An’s environmental, social, and governance (ESG) strategy in our overseas business, PAAMC HK adheres firmly to its commitment to embedding ESG principles at the core of its investment philosophy and practices. In 2019, the Company launched the first China-focused green bond fund in the world, offering global investors with much-needed access to the second-largest green bond market in the world*.
“We are delighted and honored to receive the ESG Investing Award for the third year in a row. This repeat recognition underscores our steadfast commitment to ESG investing and our continuous efforts to create long-term value for our investors while making a positive impact on society and the environment,” said Mr. Albert Wang, Head of Capital Markets and CIO of PAAMC HK. “The three-year winning streak also demonstrates our team’s ability to adapt to evolving market trends and regulatory landscapes.”
Jointly presented by the Chinese Edition of Bloomberg Businessweek and Deloitte, this year’s ESG Leading Enterprise Awards announced and honored the winners on November 23. By recognizing Hong Kong-listed enterprises and asset management companies with outstanding ESG performance, the campaign aims at encouraging enterprises to strive for excellence in ESG practices, ultimately to foster a sustainable business culture with positive impact on the environment and society.
Following a rigorous judging procedure advised by Deloitte that ensures credibility and objectivity, a panel of professional judges assessed the submissions based on participating enterprises’ ESG governance mechanisms, goals and performance, as well as environmental and social initiatives.
* Source: Climate Bonds Initiative, as of 31 December, 2022.
- Arçelik tops DHP Household Durables industry in S&P Global Corporate Sustainability Assessment with highest ESG score
- HIVENTURES: HUNGARIAN AGRICULTURE ON THE RISE – KEEP AN EYE ON THESE COMPANIES
- PAAMC HK Wins ESG Investing Award for Three Consecutive Years
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