Isavia secures EUR 40 million funding from the European Investment Bank
The European Investment Bank has agreed to Isavia‘s drawdown of EUR 40 million (ISK 6.3 billion). The amount in question is the final drawdown on a loan amounting to EUR 100 million that the bank granted the company in 2018 for developments at Keflavík International Airport. This funding is in addition to the ISK 4 billion share capital increase from the Icelandic government which was directly related to specific investment projects at Keflavík International Airport. In total, therefore, Isavia has secured more than ISK 10 billion in new funding since flights to and from Iceland more or less ceased due to the COVID-19 pandemic.
After the storm comes the calm
As the first day of the old Icelandic month of Harpa heralds the official start of summer, now is the time to take a look back over the winter we are leaving behind. The winter months have been difficult in many respects, taking their toll on society here in Iceland and elsewhere in the world.
Isavia and Landspítali University Hospital join forces
As everyone knows, the workload on the Landspítali Hospital staff has been enormous during the past few weeks after the COVID-19 pandemic gained a foothold in Iceland. The Hospital recently contacted Isavia requesting assistance with security and other aspects that require the special knowledge that many of our employees have. Our people responded positively to this request. At present, nine employees from the Airport Aviation Security Department of Isavia at Keflavík Airport have begun working at the Landspítali.
Four billion ISK for infrastructure projects at Keflavík Airport
On 7 April 2020, it was announced that the Ministry of Finance and Economic Affairs had decided to increase the share capital of Isavia ohf. by ISK four billion on the condition that the Company embark on infrastructure projects at Keflavík Airport during the course of the year. This increase in share capital makes it possible for Isavia ohf. to initiate two projects, one of which relates to design for the next large construction work at the Leif Eiriksson Air Terminal and the other related to the design and construction of roads and runways at Keflavík Airport.
Positive results from the 2019 operation of Isavia
Despite the considerable decrease in the number of tourists last year, the results of the Isavia consolidated group were positive by ISK 1.2bn after taxes, a decrease of around ISK 3.1bn from the year before. Excluding the write-down of accounts receivable due to the collapse of WOW air, the decrease amounts to ISK 1.2bn. The 2019 income decreased by approximately ISK 3.3bn, which is a decrease of around 8%. Cash and cash equivalents amounted to ISK 9.2bn at the end of 2019.
Isavia´s response to the effects of Covid-19
Isavia has currently started laying off employees in response to the enormous effects that the spread of COVID-19 has had on the volume of tourists coming to Iceland. The majority of the layoffs will be at Keflavík Airport, where it is clear that there will be a decrease in traffic for an undetermined period. Considerable efforts are made to focus on making the company ready to advance again when the effects of COVID-19 begin to decrease.
Limited opening hours for shops and restaurants
The opening hours of restaurants and shops have been limited due to the reduction in the number of flights. In the main shopping area, the DutyFree Store and Mathús (House of Food, self-service restaurant) are always open when flights are on schedule.
Keflavik Airport wins global service awards
Keflavik International Airport is one of the world‘s best airports for customer experience, according to the results of ACI‘s (Airport Council International) Airport Service Quality (ASQ) programme. The airport ranks among the top eight European airports that welcome between 5 to 15 million passengers per year.
Health Alert Notice for International Travellers in Iceland Concerning the Novel Coronavirus (COVID-19)
Keflavik International Airport cooperatives with the Chief Epidemiologist, the Directorate of Health and the Civil Protection Department to coordinate response to the increased spread of the Novel Coronavirus (COVID-19).
ASÍ and Isavia join hands to improve information to foreign workers
Isavia and ASÍ (The Icelandic Confederation of Labour) have joined hands to increase visibility and availability of information for foreign workers in Iceland. The initiative will cover information about the Icelandic labour market in general, collective bargaining agreements as well as employee rights and obligations. ASÍ president Drífa Snædal, and Sveinbjörn Indriðason CEO of Isavia, signed an agreement about the collaboration at Keflavik Airport Thursday morning.
Meeting of Isavia and the TSA
Wednesday, February 19, Sveinbjörn Indriðason, CEO of Isavia met with David P. Pekoske, the Administrator of TSA, the U.S. Transportation Security Administration, and Jeffrey Ross Gunter, the U.S. Ambassador to Iceland. The main topic of the meeting was to discuss the mutual interests of Iceland and the United States in terms of airport operations and air transport. The importance of good cooperation between Isavia and TSA, as well as the possibilities of further cooperation, were also discussed.
Electric buses for trial at Keflavik Airport
Isavia, the operator of Keflavik International Airport, has been evaluating the feasibility of replacing diesel buses, that transfer passengers between terminal and aircraft, with electric ones. For the trial, Isavia staff have driven a Mercedes Benz eCitario around the airport apron. The bus proves to be remarkably silent, with good handling, and very suitable for tarmac operations. Isavia already has already employed electric cars for some years. They fit the operations and conditions at Keflavik Airport very well, with flat land, short driving distances and readily available electricity from renewable sources.