Klik her for at se PDF'en - Air Greenland

2011 was a financially satisfactory year for Air Greenland.
Turnover rounded DKK 1.2 billion with profits of
DKK 51.3 million after tax, an increase of 10.2 million compared
to the previous year. This financial result was marked by
payment of dividend to the shareholders of a total of DKK 30
million. This is the first dividend payment for many years.
With its shareholding of 37.5 per cent, the Government of
Greenland received a dividend payment of DKK 11.25 million,
while the airline’s other two owners, sAs (37.5 per cent) and
the Danish state (25 per cent), shared the rest.
The financial result is first and foremost the result of a very
high level of activity in the company’s charter department. Last
year, a record number of hours were flown with both the DAsH-
7 and with the small As- 350 helicopters. These consisted
primarily of jobs for the growing oil and mineral exploration
sector – an area of growth that Air Greenland has high expectations
for – as well as a series of building and construction jobs.
The recent profits should be seen in the light of a small fall in
numbers of passengers on scheduled flights, heavier competition,
much higher fuel prices and increased taxes. Nevertheless,
Air Greenland succeeded in increasing turnover with the
same number of employees as the year before, which shows the
group’s ability to maintain a constant focus on costs.
– How would you describe Air Greenland’s present situation
and what challenges is the company facing?
– The company is lucky to have managed to balance costs and
income in a sensible manner, says Jens Wittrup Willumsen,
chairman of the board at Air Greenland and he continues:
74
froM air greenl and’s world
kAl Air Greenlandimi
suliassaasinnaasut
pissanganartut
eqqarsaatigalugit, 52-nik
ukiullip Jens Wittrup
Willumsenip ingammik
avataani uuliasiornermi
attartugassanut ani ngaa -
saliinissaq periarfis saalluartutut
isigaa.
Dk 52-årige Jens Wittrup
Willumsen ser især muligheder
i investeringer i
off-shore sektoren, når det
gælder udfordringerne for
Air Greenland.
GB 52-year old Jens Wittrup
Willumsen sees potential in
especially in the off-shore
sector when it comes to
challenges for
Air Greenland.
Dividend for the shareholders
A satisfactory annual report for Air Greenland gave
financial benefits to the three owners in the form of dividends
By Christian Schultz-Lorentzen
– We now have the financial muscle to invest in development of
new areas of business. We will start with the off-shore sector. in
addition, focus on the tourist industry could also be interesting.
Things are moving too slowly and perhaps it is necessary with
some bigger operators, who can raise the level of the incoming
services, available experiences in Greenland and international
marketing.
– it is a challenge to ensure flexibility in the company’s business
models so we can justify investments in replacing the helicopter
fleet. Flexibility will ensure that when expensive material cannot
be used by Air Greenland, it can be used in other places,
says Jens Wittrup Willumsen. He notes that the Greenlandic
economy is finding it more and more difficult to finance the
present level of service in the country’s many villages.
– This places demands both on the Government of Greenland
and on Air Greenland. it could be tempting to enter into service
contracts with other, isolated operators to achieve small savings.
But the risk is, that the cohesive traffic system that Air
Greenland provides in Greenland today falls apart, resulting in
travel-inefficiency.
– is it possible that Air Greenland buys sAs’s or even the Danish
state’s shares in the airline?
– That is a question for the owners. But from the company’s
perspective, it is productive with the present combinations of
owners, who represent professional competence and the most
significant setters of terms says Jens Wittrup Willumsen.