Flugblogg
  • Airlines
  • Airports
  • Flight Safety
  • Helicopters
  • Lifestyle
  • About Us
Flugblogg
Support Us
  • Airlines
  • Airports
  • Flight Safety
  • Helicopters
  • Lifestyle
  • About Us
The plan of reconstruction of main terminal of Keflavik airport // Source: Isavia
  • Airports
  • News

Isavia receives 4 billion ISK from the state budget to ensure the development of Keflavik

  • Andrei Menshenin
  • April 9, 2020
  • 2 minute read

Government of Iceland press-release

The Minister of Finance and Economic Affairs has decided to increase the share capital of Icelandic national airport operator and ATC provider Isavia with 4 billion ISK (27.7 million USD, 25.5 million euro, converted by Islandsbanki), to ensure that the company launches an infrastructure project at Keflavik Airport early this year.

These projects that were planned for the current year but would have had to be postponed due to the fall in revenue that the company has suffered and the acceleration of other manpower-intensive projects planned in the years after 2023.

The estimated number of new jobs created for these projects amounts to about 50-125 jobs for each month until mid-2021. There will also be a number of secondary projects in the Suðurnes region related to extensive construction at Keflavik Airport.

The decision is in line with the government’s efforts to increase investment to counter the recession in the economy with profitable investments that increase labour demand.

“In the last few days, we have seen our worst forecast of unemployment become the reality that calls for fast but also informed decision-making,” says Bjarni Benediktsson, Minister of Finance and Economy. “In recent years, Isavia has been doing a lot of preparatory work regarding future development at Keflavik Airport which will support international flights to and from Iceland for the future. It is wise to continue construction at the airport to safeguard Iceland’s competitiveness when it comes to tourism. Therefore, we have made a decision to increase the share capital of the company so that it has scope to undertake projects that would otherwise have been postponed in the light of the circumstances.”

“The decision of the Ministry of Finance and Economic Affairs to support the company allows us to embark on projects that we would not otherwise have had at this time,” says Sveinbjörn Indriðason, CEO of Isavia. “Not only does it create new jobs in the construction itself, but because of it, we can protect a large number of jobs within Isavia. The investment will also have a positive impact on the Suðurnes because many who live there work for us, and there will be a number of secondary projects in the area. This is extremely important for Isavia because it will help us emerge stronger from these difficult times and make the airport even more competitive in the future. “

Half of this ISK 4 billion goes to projects related to design and the rest will be used in construction. It is assumed that the additional funding will benefit a broad group of companies.

Then this operation will open the possibility of further construction at Keflavik Airport, sooner than otherwise, up to over 3 billion ISK. The total volume of investments related to this increase in share capital can, therefore, amount to over 7 billion ISK (48.7 million USD, 44.7 million euro, converted by Islandsbanki) over a two-year period.

Total
34
Shares
Share 34
Tweet 0
Share 0
Related Topics
  • Bjarni Benediktsson
  • COVID-19
  • Isavia
  • Keflavik
  • Sveinbjörn Indriðason
Previous Article
  • Airlines
  • News

Icelandair is sending a plane to China for medical supplies

  • Andrei Menshenin
  • April 7, 2020
View Post
Next Article
Air Iceland Connect Bombardier Dash 8 Q200 reg. TF-FXG unloading after performing flight FXI439 from Reykjavik (BIRK) to Ilulissat (BGJN) // Source: Kamil Krzywdzinski
  • Airlines
  • News

Icelandic government will pay 13 million ISK subsidies to Air Iceland Connect for flights to Isafjörður and Egilsstaðir

  • Andrei Menshenin
  • April 15, 2020
View Post
Read more on Flugblogg
UPS Boeing 747-8F reg. N618UP // Source: UPS
View Post
  • Airports
  • Flight Safety
  • News

Replicas of firearms, fireworks and a bottle with liquid were found on board a freighter with an allegedly “bomb” in Keflavik

  • September 29, 2022
Keflavik airport terminal // Source: Isavia
View Post
  • Airports
  • Flight Safety
  • News

Bomb threat received in Keflavik after UPS freighter diverted there

  • September 29, 2022
Icelandair Boeing 757-200 reg. TF-FIK damaged in Heathrow airport by Korean Air Boeing 777 // Source: CPlanespotting (Twitter)
View Post
  • Airlines
  • Flight Safety
  • News

Icelandair plane was damaged by another aircraft in Heathrow airport

  • September 28, 2022
Air Greenland Bombardier Dash 8 Q200 reg. OY-GRH in Keflavik airport // Source: Andy Todd (flickr.com)
View Post
  • Airlines
  • News

Icelandair signs new interline agreement with Air Greenland

  • September 19, 2022
Heart Aerospace ES-30 // Source: Heart Aerospace
View Post
  • Airlines
  • News

Icelandair joins the development of the electric plane ES-30

  • September 16, 2022
Part of an engine, fallen in the yard in Waremme, from Air Atlanta Icelandic Boeing 747-412F reg. TF-AMC // Source: Facebook page of Hervé Rigot
View Post
  • Airlines
  • Flight Safety
  • News

Air Atlanta Icelandic plane dropped part of an engine in the yard of a house in Belgium

  • September 9, 2022
Near-miss in Keflavik between flights ICE533 and ICE6LC // Source: Flightradar24
View Post
  • Airlines
  • Flight Safety
  • News

The dangerous approach in Keflavik. Arriving plane almost landed on the departing aircraft

  • September 2, 2022
Óli Öder Magnusson is ferrying ultra-light ICP Savanah S to Iceland // Source: Óli Öder Magnusson
View Post
  • General aviation
  • News

On ultra-lights over the ocean. How Icelanders delivered planes from Italy

  • August 30, 2022
Flugblogg on Facebook
Comments Box SVG iconsUsed for the like, share, comment, and reaction icons

Flugblogg

16 hours ago

Flugblogg

A team of Icelandic search and rescue experts is currently en route to Turkey to provide assistance after the devastating earthquake there ... See MoreSee Less

A team of Icelandic search and rescue experts is currently en route to Turkey to provide assistance after the devastating earthquake there
  • Likes: 35
  • Shares: 0
  • Comments: 0

Comment on Facebook

Flugblogg

7 days ago

Flugblogg

Eva Guðný Guðnadóttir lauk sínu fyrsta einflugi (solo) í dag! ✔️ ... See MoreSee Less

  • Likes: 33
  • Shares: 0
  • Comments: 1

Comment on Facebook

Megi gæfa og gengi fylgja henni, bk

Flugblogg

1 week ago

Flugblogg

Photos from Flugfélagið Geirfugl's post ... See MoreSee Less

  • Likes: 6
  • Shares: 0
  • Comments: 0

Comment on Facebook

Load more
Subscribe to be informed

All copyrights are reserved. Partial copying of materials, video or audio is allowed only with the mentioning of the source: Flugblogg.is
With all inquiries write us to
inboxflugblogg @gmail.com

Flugblogg
Aviation blog with reviews of Icelandic aviation trends, interviews with aviators, aviation analysts and reports on general aviation. Here you will find reviews of the flights of Icelandic airlines, planes, helicopters, routes and airports.

Input your search keywords and press Enter.