newstodate.aero

Jun 14, 2021 (newstodate): The tourism industry will not contribute significantly to Air Greenland's revenues in 2021 as restrictions still apply, albeit easing gradually.
   Compared to pre-Covid years with some 100,000 tourists, expectations are only below 20,000 in 2021, as was also the case in 2019.
   Still, Air Greenland has emerged as one of few airlines with positive results in 2020, landing at a surplus of DKK 30.6 mio.
   Behind the positive result are timely costs reductions including downsizing staff by one-sixth in 2020, the airline's postal and cargo operations, and not least a contract with Greenland's government for provision of crucial non-commercial air services between Greenland and Denmark, as well as renewed long-term contracts with the Danish Ministry of Defense for provision of SAR, and a service contract running for 10 years.
   In April 2021, Air Greenland successfully issued bonds on the US Private Placement, USPP, market at just over DKK 1.1 billion, contributing to the financing of the acquisitions of one A330-800neo, two H225 helicopters, and six H155 helicopters.
   The Airbus A330-800neo will replace the company's Airbus A330-200 by the end of 2024; the two H225 helicopters will provide capacity to the SAR operations, and the H155 helicopters will update services on the airline's domestic feeder routes and regional air transport.