Tag Archives: 5079

Atlantic Airways orders its first Airbus A320

Atlantic Airways (Vagar), based in the Faroe Islands, has signed a firm order for one new Airbus A320. With this order Atlantic Airways becomes a new A320 customer. The aircraft will be delivered at the end of 2016, enabling the carrier to tap into the growing passenger market between the Faroes and Copenhagen.

Atlantic Airways is buying the larger aircraft due to the increasing demand on the route between the Faroes and Copenhagen. The new craft will primarily serve this route.

Atlantic Airways’ new A320 will have 168 seats.

Above Copyright Photo: Antony J. Best/AirlinersGallery.com. The airline already operates three Airbus A319s. The pictured A319-115 OY-RCG (msn 5079) completes its final approach to the Greek island of Corfu.

According to the airline, “Currently, there are three Airbus 319 in Atlantic Airways’ fleet, one of which the company owns while it leases the other two. The leasing contracts for the two aircrafts expire in September 2016. The company plans to extend one of these contracts to secure sufficient capacity until the new aircraft has been acquired and while the new NORTH routes are being built up.

Until the fall of 2016, Atlantic Airways has opted to serve the NORTH routes with Airbus A319s. In this trial period the company will determine whether it is feasible to acquire a smaller plane to serve these routes. The company is still researching what type of aircraft is ideal for the NORTH routes.

In summary, within the next few years, Atlantic Airways plans to have a fleet consisting of an Airbus A320, an Airbus A319 and an aircraft suited for the NORTH routes.”

Image above: Atlantic Airways.

The aircraft has Required Navigation Performance (RNP 0.1) capability built-in, which enables the aircraft to fly precisely along predefined routes using state-of-the-art on-board navigation systems. Atlantic Airways were the first airline in Europe to use the Required Navigation Performance approach.

Top Image: Airbus (all others by Atlantic Airways).

Atlantic Airways aircraft slide show:

Route Map:

Video:

Atlantic Airways reports a net profit of $626,150 in the first half, up 160%

Atlantic Airways (Vagar, Faroe Islands) reported improved financial results and issued this financial report for the first half of 2013:

Revenue increased 5% to DKK 129.5 million in Q2 2013 from DKK 122.8 million in the corresponding period in 2012. The increase is mainly attributable to an increase in passenger numbers on scheduled services and increased charter activity as well as increased duty-free sales.

EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) in Q2 2013 decreased 1% from DKK 24.7 million in the second quarter of 2012, to DKK 24.3 million.

The result before tax (EBT) for the second quarter of 2013 was DKK 7.6 million, compared with DKK 6.9 million in the same period last year and the result after tax for the second quarter of 2013 was DKK 6.2 million, compared with DKK 5.7 million in the second quarter of 2012.

The main explanatory factors for the higher result in Q2 2013 are the increased number of passengers and higher load factor on scheduled services. However, the result in Q2 2013 was also affected by decreased helicopter activity.

EBITDA in the first half of 2013 were DKK 37.7 million, compared with DKK 31.7 million in the first half of 2012, an increase of 19%. The result before tax for the first half of 2013 amounted to DKK 4.3 million, compared with DKK 1.7 million in the same period in 2012 and the result after tax amounted to DKK 3.5 million, compared with DKK 1.4 million in the same period in 2012.

The supply of seats (ASK) on scheduled services in the second quarter was 1% lower than in the corresponding period last year due to adjustments in capacity. Passenger traffic (RPK) on scheduled services increased 8% in the same period resulting in an increase in passenger load factor (PLF) from 71 to 78%. During the first half the supply of seats grew by 7% owing to the introduction of Airbus capacity in Q 1 and passenger traffic increased by 9% in total.

“Growth in traffic has been significant although there is still room for better loads in the low season”, says Magni Arge, CEO. Growth has been driven by low-fare campaigns and supported by growth in capacity in Q1.

In June, the second Airbus was introduced to service both the route network to the Faroes and charter operations out of Denmark. Like the first aircraft it was also modified to support the groundbreaking RNP AR navigational aid system. The system has improved the regularity and saved us a number of diversions. However, in July, the severe fog interrupted operations consistently over a period of four weeks resulting in 54 diversions and cancellations as well as a further 70 delays.

Without RNP AR equipped aircraft we would have experienced a further 20 diversions. The total cost of the unrecedented weather interruption in July is estimated at between 7.5 and 8.5 MDKK .” says Magni Arge.

Atlantic Airways currently estimates that the full-year result in 2013 will be about the same level as in 2012, yet fuel prices, adverse weather, and advice against travel to Egypt may have a negative impact on the result. Other risk factors mentioned in the Risk management section in the 2012 annual report may similarly affect the financial performance.

Vagar Airport Webcam: CLICK HERE

Copyright Photo: Karl Cornil/AirlinersGallery.com. The company is pioneering its RNP AR navigational aid system at Vagar Airport in the Faroe Islands. Airbus A319-115 OY-RCG (msn 5079) arrives at Barcelona on a flight from Vagar.

Atlantic Airways: