Isavia’s airports, especially Keflavík International Airport, create value for the community and the economy, both in Iceland and elsewhere in the world. Direct flight connections are extremely important. The more direct connections by flight from Iceland to the main cities of the world, the easier it is for Icelandic companies and private persons to engage in business overseas and export goods and seek international experience. In addition, they increase the interest of overseas companies to begin operations in Iceland. An analysis has been carried out in Europe which indicates that an increase in flight connections of 10% produces 0.5% economic growth.
Airports are important business centres and directly and indirectly strengthen the creation of economic and social value for the communities that their operations touch. Being located close by an airport allows companies and their value chains to enjoy the benefits of their proximity and directly and indirectly support positive economic developments for such areas.
Two factors have the greatest impact on the scope of Isavia’s operations: the number of flight movements and the number of passengers. Isavia’s income from Keflavík Airport can be attributed first and foremost to the airlines that land at the airport, concession revenues from food and beverage and retail outlets as well as other income from renting facilities.
Importance of KEFLAVIK AIRPORT
Isavia, the Icelandic authorities, the airlines and other stakeholders have been successful in promoting Keflavík Airport as a destination, particularly outside peak hours. Passengers outside peak hours have grown proportionately faster than during peak hours.
Keflavík Airport is the largest gateway into Iceland and is one of the most important individual aspects in the infrastructure of the tourism industry. It is important that care is taken as regards the enlargement plans for Keflavík Airport, which are necessary for the airport to be able to welcome the growing number of passengers in the future.
The Leif Eiriksson Air Terminal at KEFLAVIK AIRPORT
The Leif Eiriksson Air Terminal was brought into use in April 1987. It was, at the time, around 20,000 m2. At present, it is approximately 73,000 m2, 3.5 times larger than when opened. During the same period, the number of passengers passing through the airport has increased thirteen-fold.
Numerous passengers take advantage of Keflavík Airport as a transit airport on routes between Europe and North America. The minimum flight connection time for passengers at Keflavík Airport is 25 minutes.
Isavia has, with the assistance of an incentives system, been quite successful in getting airlines to fly to Iceland over the winter months. In addition, Isavia has marketed time slots outside peak hours each day, with the aim of making better use of the airport’s facilities.
CODE OF CONDUCT FOR SUPPLIERS
Isavia is a signatory to the United Nations Global Compact (UNGC) and has thereby committed to ensuring that its policies and practices comply with the UNGC’s Ten Principles on human rights, labour, the environment and anti-corruption.
Isavia has adopted a Code of Conduct for Suppliers in accordance with the Ten Principles. Suppliers with which the Company does business are required to comply with the Code of Conduct and ensure that their suppliers do the same. Upon request, suppliers must be able to confirm their compliance with this Code of Conduct.
Further information about Isavia‘s Economy can be found in the Annual and CSR report