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​Efficient operations and property sale improve Avinor's result

Press Release   •   Feb 18, 2016 08:00 GMT

“We are very pleased with the result, and in particular that we have succeeded in rationalising operations to face a decline in traffic. The rationalisation measures have provided Avinor with a good result, and also contribute to avoiding an increase in airport fees. This is to the benefit of both airlines and passengers and necessary in order to implement planned investments”, says CEO Dag Falk-Petersen of Avinor.

Avinor aims to implement cost savings amounting to NOK 1,5 billion by 2018. Avinor is on schedule with this plan, and met the target of NOK 150 million in efficiency and cost savings by a good margin.

The merger between Avinor AS and Oslo Lufthavn AS was completed as planned and took effect from 1 January 2016.

Reduced passenger numbers – increase in overflights
In 2015 passenger numbers travelling through Avinor's airports dropped by 0.2 per cent compared to 2014. The decline in traffic is primarily related to domestic traffic and offshore helicopter traffic. The air navigation service showed 6.2 per cent growth in the number of overflights over Norway (service units) in 2015.

Safe and reliable operations
The Group’s operations continue to be safe and reliable, with average regularity of 98 per cent and punctuality of 88 per cent over the last 12 months. Norwegian regional airports are among the most punctual in the world, and Oslo Airport is among the most punctual in Europe. No aviation accidents were registered in 2015, either with or without personal injury, in which Avinor was a participant.

Major development projects
In the autumn of 2015 Avinor sold the property that houses the Radisson BLU Airport Hotel Oslo, with an accounting gain of NOK 1,266 million. The sale contributes to the financing of the expansion of Bergen Airport, Flesland. For the years 2014 to 2017, Avinor has been granted a dividend exemption for profits above NOK 1 billion.

Expansion projects at Oslo Airport and Bergen Airport are expected to be completed on schedule and budget in 2017. 

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