Managing Director

Air Niugini refocuses on domestic routes

Managing Director, Alan Milne, said the airline will be focusing on its domestic product as it aims to become more competitive.

During his presentation to the POM Chamber of Commerce, he revealed that loss-making routes would be suspended.

He announced that Townsville, Denpasar, Shanghai and Tokyo flights were affected by this.

No sale of Fiji resort: Mano

This follows the previous announcement by Prime Minister Peter O’Neill in Parliament recently.

Responding to questions from this newsroom, Mano said there was no sale but offers were made.

“Currently there is no sale as announced by PM,” said Mano.

“There are a couple of very good offers which management is looking at but ultimately the decision to approve the sale will be the shareholders who will decide, based on their expectations and aspiration,” said Mano.

Jackson’s airport restrictions during APEC

National Airports Corporation Managing Director, Richard Yopo, in a statement said it will be temporarily closed as part of the restricted zone for APEC.

The general public is advised to use the domestic airport carpark during this period.

The VIP transit facility, built next to Air Niugini cargo, will also be restricted.

APEC routes in the city will include the Tokarara June Valley road, Independence Drive, Somare Drive and Lawes Road. These roads may be locked down thirty minutes before the motorcade convoy and open straight after for public use.

Pipeline benefits for LOs

Speaking at the launching of the Boera Primary School teachers’ accommodation on 23rd October, Mano said they will start the process of opening the accounts so that landowners from the segments can elect their directors.

This will enable the flow of benefits – such as royalties – to them.

ANZ responds positively to Sovereign Bond issuance

Mark Baker, Managing Director ANZ PNG said: “This marks an important milestone in the history of local financial markets, setting a strong precedent for future issuances in Papua New Guinea.”

It is an important phase in the evolution of an emerging economy and will go a long way in establishing PNG’s identity in global financial markets.

Over K260m profit for first half of 2018: OSL

Oil Search Limited reported a net profit after tax for the first half of the year, at US$79 million; that over K260 million.

Managing Director Peter Botten said the half year results was credible achievement considering the challenges of the February earthquake in the vicinity of the company operations in the Highlands region.

“The first results were the most challenging in Oil Search operation history because of the earthquake. Given that US$79.2 million profit was made in the first half represents credible achievement.”

PNG received K14bn from PNG LNG: OSL

The country has received K14 billion in revenue, with K3.9 billion paid to the state and landowner entities in royalties, development levies and equity payments.

Managing Director, Peter Botten, said landowner benefits of K708 million is held in trust waiting for the completion of landowner identification process.

Botten also said of the 15 licences covering PNG LNG Project areas, 12 are either receiving (Plant Site LOs) or close to receiving benefits. Three are held up by the courts.

K100m to upgrade Madang airport

National Airport Corporation, Managing Director, Richard Yopo announced this recently.

In a breakfast meet with Madang Governor Peter Yama, Director Yopo said Madang airport upgrade work will commence shortly.

He said NAC is in the design stages and will commence work as soon as funds are available.

Yopo added that the upgrade and extension of the airport will cost about K100 million.

Governor Yama welcomed the news as a good news for the people of Madang.

​PNG Ports boss reappointed to board

Alphonse will be working with reappointed NMSA chairman, Peter Humphreys, who represents the PNG Chamber of Commerce and Industry, and other Board members to provide guidance and leadership to NMSA at a time when the shipping industry in general is growing.

In welcoming the appointment, which was gazetted on July 20, board chairman of PNG Ports, Nathaniel Poya, thanked the Ministry of Transport and Infrastructure and the National Executive Council (NEC) for reappointing Alphonse to the NMSA board.