Bruce Alabaster

In a media statement released today, ANL Chairman Sir Kostas Constantinou announced the departure of CEO, Bruce Alabaster. 

The Board states that Mr Alabaster was instrumental in guiding the airline through the challenges associated with the Covid-19 global pandemic. This required difficult decision making, affecting the company's workforce among other core business elements.

In a statement, NASFUND says the decision by the Board of Directors to accept the offer is a purely commercial decision and is in the best interest of the Fund and its members.

NASFUND holds 39.29% of the total shares on issue and is the largest institutional investor in PNG Air.

Since 2008 NASFUND has invested in PNG Air K76 million, comprising of K31 million in equity and K45 million as a loan provided to PNG Air as part of rescue packages given between 2016 and 2017 by the major shareholders.

The decision to recommence domestic services follows advice yesterday from the National Government lifting the two-week lockdown period for domestic travel on 06^th April.

Air Niugini is rolling out additional safeguards on all domestic flights to avoid the chance of COVID 19 being carried, and further enhanced requirements in the border provinces of Vanimo, Sandaun Province and Daru in Western Province. This will include heightened security and health checks at these airports.