Skyscanner Holdings Limited and Skyscanner Limited – Section 172 Statement

The Companies (Miscellaneous) Reporting Regulations 2018 introduced a new statutory reporting requirement for financial reporting years beginning on or after 1 January 2019. As a result, the directors of Skyscanner Holdings Limited and Skyscanner Limited are required to give a statement which describes how the directors have had regard to the matters set out in section 172(1) of the Companies Act 2006 when discharging their duty under that section.

The directors acknowledge and understand their duties and responsibilities, including that, under section 172 of the Companies Act 2006, a director of a company must act in a way he or she considers, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole, and in doing so have regard (amongst other matters) to:

  1. the likely consequences of any decision in the long term;
  2. the interests of the company’s employees;
  3. the need to foster the company’s business relationships with partners, travellers and others;
  4. the impact of the company’s operations on the community and the environment;
  5. the desirability of the company maintaining a reputation for high standards of business conduct; and
  6. the need to act fairly between members of the company.

The delivery of Skyscanner’s strategy requires the company to conduct business in a manner benefitting travellers while delivering shareholder value and protecting Skyscanner’s performance and reputation by prudently managing risks inherent in the business. In setting and updating this strategy, the directors’ duties under section 172 of the Companies Act 2006 have been considered.

The directors strongly believe that effective and meaningful engagement with stakeholders is key to promoting the success of the company. Details of our key stakeholders and how we engage with them are as follows:

Travellers: Understanding our travellers’ changing needs and behaviours helps us to achieve our ‘Traveller First’ vision to lead the global transformation to modern and sustainable travel. Trust is important to our customers and we measure this and other customer engagement metrics with regular customer surveys, market research and interaction across our social media channels. Customers continue to place high importance on value for money and a seamless customer experience throughout the booking process. There is also a growing trend in ethical and sustainability concerns being a factor in customer choices.

Employees: We will only deliver our strategy if we recruit, skill and retain the best people and develop a flexible, motivated, efficient, diverse and engaged team. A great deal of effort is devoted to engaging with employees on matters that impact them and the performance of the Company. This includes regular business and performance updates by members of the management team for all employees, frequent internal briefings and team meetings, and the circulation to employees of company announcements and updates on developments. The directors actively encourage the participation of employees in the performance and success of the business through company-wide employee bonus and share schemes.

Communities and the Environment: We are committed to making a positive contribution to the communities within which we operate, including through payment of taxes, reducing our environmental impact and creating employment opportunities. Our “Greener choice” label on search results highlights flights that emit less CO2 and we’ve already helped more than 10 million travellers select the lowest emissions flight for their route. Working with the Duke of Sussex and other industry leaders, we formed Travalyst with the aim of ensuring a positive future for destinations and local communities in every part of the world for generations to come, whether by conserving natural resources to helping relieve pressure on overcrowded destinations and finding more impactful ways to reduce and offset carbon emissions associated with trips.

Partners and Suppliers: We have established long term relationships with our partners, and the Board actively fosters strong supplier relationships, ensuring they are treated fairly and ethically. We have an open, constructive and effective relationship with all suppliers and meet regularly with material suppliers to provide both parties the opportunity to give feedback on successes, challenges and the future roadmap. Payment policies, practice and performance are reported through the Government’s Payment Practices Reporting portal.

Government and Regulators: Governments and regulators play a central role in shaping our industry. We engage with them directly, mainly through trade associations, responding to issues of concern and providing expertise to support policy development.

The directors, both individually and together as a board, consider that the decisions taken during the year ending 31 December 2019 were in conformance with their duty under section 172 of the Companies Act 2006. Skyscanner ensures the Board is assisted in considering key stakeholders as part of the decision-making process by including stakeholder considerations in Board papers as appropriate, and Board papers are carefully reviewed and considered by all directors.