Faroe Business Report — The International Review of Faroe Islands Industry and Trade - Faroe Business Report — The International Review of Faroe Islands Industry and Trade
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Vagar Airport: Major Upgrade Adds New Edge
Written by B. Tyril —
As the newly expanded Vagar Airport looks more commercially attractive than ever for airlines and charter operators, the number of passengers traveling through the airport reached a record 225,532 in 2012.
The runway extension that was completed in late 2011 upgraded Vagar Airport FAE significantly while increasing its potential market reach in the international aviation business — the jump from 1250 to 1799 meters of runway made the operational radius from the airport much larger, meaning direct flights to and from Vagar can now be of 6 to 7 hours duration rather than only 2 to 3 hours.
Meanwhile a new passenger terminal currently under construction is expected to be completed by spring 2014.Read more... -
Flying High for 25 Years
Written by B. Tyril —
One year after taking delivery of its first A319 aircraft, Atlantic Airways celebrates 25 years of operations amid successful transition to the Airbus platform — and high recognition by the aviation industry.
On 27 March this year (2013) the Faroe Islands’ national carrier Atlantic Airways celebrated the 25-year anniversary of its first scheduled flight. It was a festive occasion that was further accentuated by the fact that the airline had successfully met a major challenge one year earlier as it took delivery of, and introduced to operations, a factory new Airbus A319, custom equipped for Faroese conditions.
That success story continued throughout 2012, culminating, in September, with the earning of the Bronze Award from the prestigious European Regions Airline Association (ERA) ‘Airline of the Year Awards’ in Dublin, Ireland. The award highlighted Atlantic Airways as a lean, innovative airline that makes a big difference in the community which it primarily serves.Read more... -
Faroese Take on Herring
Written by B. Tyril —
With Atlanto-Scandian herring increasingly abundant in Faroese waters, the Faroese — blocked from renegotiating their catch share — set their own quota for very good reason, according to Minister of Fisheries Jacob Vestergaard.
In the wake of this year’s international negotiations on the joint management of the Atlanto-Scandian herring fishery in the Northeast Atlantic, the Faroe Islands decided to set their own catch quota in line with what they consider their rightful share of the recommended total allowable catch (TAC). Fixing it at 17 percent of the advised TAC of 619,000 tonnes, the Faroese — ready to fish just about 105,000 tonnes — thereby allotted themselves a significant rise compared to, in their view, an outrageously low 5-percent share.
Predictably, Norway and the European Union were quick to condemn the unilateral move of the Faroese while calling for sanctions against the Faroe Islanders, whom the Scottish fisheries minister accused of “jeopardizing the future of vital fishing stocks.”Read more... -
Marine Repairs: Exceeding Expectations
Written by B. Tyril —
Owners and operators of marine vessels and offshore rigs are astonished at what they get from providers in the Faroe Islands — such as MEST, the shipyard and engineering company that is also a stainless steel equipment manufacturer.
Nobody would blame the uninitiated for assuming that in the Faroe Islands not much can possibly be found in the way of industrial services and manufacturing — certainly, nobody would contest that the size of the population in that windswept archipelago in the middle of the North Atlantic is absolutely minimal.
They would, however, be in for a big surprise.Read more...
Welcome to the 2013 Edition of the Faroe Business Report
It brings me great pleasure to present to you the 2013 edition of the Faroe Business Report. I’m proud to note that this is the 8th volume in the series that we initiated back in 2005 in a process that has been a marvelous experience with a great deal of learning involved. From the outset the Faroese business community and public authorities have been unwavering in their support of this long-term project, which we believe has an important mission — to tell the business world about the Faroe Islands. There is indeed much to tell, as you will observe from glancing through the pages of this publication. Read more...
Tí virðið á tínum umdømi er ómetaligt
Hví munu fleiri og fleiri fyritøkur og stovnar síggja miðvíst arbeiði við samskifti sum ein hornastein í øllum væleydnaðum virksemi? Eitt svar er at krøvini til umstilling í dagsins umhvørvi vaksa við rúkandi ferð, sum ger tað neyðugt hjá mongum at regluliga dagføra sína vitan og sínar førleikar.
Hetta ber so í sær eitt vaksandi medvit um virkissamskifti og almenn viðurskifti. Og júst her kemur Faroe Business Report inn í myndina...