Civil Aviation Approach to Safety Risk Management: A New Perspective on a Mature Process

Proceedings of The 5th International Conference on Advanced Research in Management, Business and Finance

Year: 2022

DOI:

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Civil Aviation Approach to Safety Risk Management: A New Perspective on a Mature Process

Panagiotis Tzavaras PhD, Marina Basimakopoulou, MSC

 

ABSTRACT: 

This literature review aims at reflecting on current issues about how Civil Aviation Industry manages the notion of Risk. In face of recent indisputable challenges, such as COVID-19 Pandemic, geopolitical and energy crisis and unpredictable markets, but also chronically experienced volatility, uncertainty, complexity and ambiguity, as the main characteristics of the aviation operational environment (VUCA World), Aviation industry has to accept that this is the norm and consequently, do more. We suggest the adoption of the Sustainability-Ethics-Resilience, SER, Aviation Specific, overarching approach to managing Safety Risk, as an evolution of the generalized Business model of Environmental-Social-Governance, ESG, and we provide reasons and solutions for that, based on evidence from the academic and the operational world.

Keywords: Aviation, Civil Aviation, Safety Management, Risk Management, Sustainability, Professional Ethics, Resilience.