Aviation is an exciting industry related to aircraft and airlines, which has been growing in strength as travel becomes an integral part of our lives. One facet of the industry includes the design and development of aircrafts, as well as their maintenance and repairs, the latter being a thriving industry even in Malta. Another facet of the industry is the provision of services so travellers can fly between destinations, which offers careers in relation to the administration of airlines and in the registration of aircrafts.
This list is a sample of roles within the industry. Studying accounts can aid you to follow a career path which leads to one or more of these roles, amongst many other options.
Chief Executive Officer (CEO)
The CEO is responsible for leading the entire organisation by guiding the strategic, financial, and operational elements of the business. The CEO pushes the airline or the business in the direction which is advised by the Board of Directors and the shareholders who are the owners of the business. Being the executive decision-maker, the CEO has the overall responsibility for taking decisions on the business’ future and keeping track of how the entity is operating and managing resources to ensure that deadlines and objectives are met.
Chief Financial Officer (CFO)
The CFO is an accountant and the ‘right hand’ of the CEO as they (she/he) are responsible for forecasting the future financial standing of the business based on the operational data and the financial reports which are prepared by the Financial Controller and the accounting department. The CFO is essential in that they advise the CEO and the Board of Directors on the strategic direction that the business should take based on a variety of information, such as the business’ profitability and cash flow, as well as market threats and opportunities.
Chief Operations Officer (COO)
A COO is a senior position within the executive team of the business, usually reporting to the CEO, and responsible for overseeing the daily administrative and operational functions of a business. Such areas generally include logistical and operational elements and how these relate to other departments such as finance, sales, marketing, and human resources. Their (her/his) role also includes cooperation between these different functions and finding a compromise in case of differences between them.
The Financial Controller is an accountant and heads the team of accountants and assumes full responsibility for tracking the general profitability of the business through the preparation and management of timely financial reports. Under the leadership of the Financial Controller, the accounting department would manage different functions of the business to ensure that incomes (from sales of airline tickets or the sale of an aircraft) and expenditures (such as buying stock, creating a new service, and salaries) are received and paid for in a timely manner. The Financial Controller also uses this information to monitor the cash flow of the business and makes recommendations on what resources are available for investment.
This role requires planning, organising, and directing the completion of specific projects for a business, while making sure that these projects are completed in time, within the set budget, and according to requests of the business. They (she/he) would be the ‘go-to’ person for all things related to that specific project.
Quality Assurance Manager
The Quality Assurance Manager takes on the responsibility to ensure that the products or services offered by the business are of the utmost quality, meeting the standards of the business as well as customer and legal requirements. In the case of the aviation industry, many regulations and standards are in place which airlines and their suppliers must follow to provide customers with the safest experience possible.