ABSTRACT
Corporate governance is a framework and structure to help the company define and monitor the progress towards achieving its objective. There are benefits to introducing formal corporate governance into a small airline or company. The potential downsides of not dealing with the essentials of corporate governance matters are the reverse of the benefits, which is confusion in the way the company operates that will reduce the confidence of those indispensable initial stakeholders. These options provide a fairly inexpensive way to get the basic knowledge of corporate governance, so decisions can be made quickly as to how the airline will be governed. The stock exchange will have some minimum requirements which may influence the company's approach to corporate governance and the way it reports its financial and operating results to shareholders. Corporate governance is needed and has an important place in a small company just as it does in a large company.
