FAROE ISLANDS. Atlantic Airways has announced that it will form a joint venture with Vagar Airport to manage duty free at the airport from May 2014.
The carrier has been the incumbent operator since January 2009, and in December announced that it would cease operations from May and the airport would be taking its retail business in-house.
The new joint venture’s board of directors will consist of two representatives from the airport – Jákup Sverri Kass and Kitty May Ellefsen – and two from Atlantic Airways, Niels Mortensen and CFO Marius Davidsen. Kass will become Chairman while Davidsen will be CEO.
Atlantic Airways said it expected the move to have a “minor positive impact” on its financial performance in 2014.
Vagar Airport is building a new terminal, with work expected to be complete in spring. It will be able to handle 350.000 passengers. The airport has seen an increase of +38% in the last ten years.
