Finnair Financial Statements Release 1 January–31 December 2020

Healthy financial position secured through extensive recapitalisation and cost reset says Finnair's management. 

October–December 2020

Earnings per share were -0.01 euros (0.03)*.

Revenue decreased by 86.8% to 102.0 million euros (774.9).

Comparable operating result was -162.9 million euros (31.2). Operating result was -14.6 million euros (34.7). The difference is mainly explained by a one-off effect of 132.8 million euros related to changes in Finnair pension fund’s defined benefit plans.

Net cash flow from operating activities was -178.6 million euros (120.1), and net cash flow from investing activities was 135.3 million euros (-185.7).**

Number of passengers decreased by 92.1% to 0.3 million (3.5).

Available seat kilometres (ASK) declined by 89.2%.

Passenger load factor (PLF) was 29.2% (79.0).

January–December 2020

WestJet welcomes Dr. Tammy McKnight as Chief Medical Officer

Canadian carrier WestJet has named Dr. Tammy McKnight as the airline's first Chief Medical Officer (CMEDO).

Dr. McKnight will be responsible for assisting WestJet in developing and implementing initiatives relating to the health and well-being of WestJetters and guests. This will include furthering the airline's commitment to mental health, advising on risk mitigation efforts, and making health recommendations to meet or exceed regulations and in line with the varying guidelines in which a global airline operates. This work was previously spread among multiple service providers and internal roles at WestJet. The position of CMEDO reports to Mark Porter, WestJet Executive Vice-President People and Culture.

"WestJet has always valued physical and mental health as core to our caring for our people and our guests, and 2020 only made the importance more evident, so much so that hiring a dedicated CMEDO to bring everything together and inhouse made a lot of sense," said Mark Porter. "Dr. McKnight is a highly accomplished, forward-thinking leader with demonstrated success in aviation, occupational and emergency medicine, and will be a valuable addition to the team." 

Finnair joins forces with air navigation service provider Fintraffic ANS to lower CO2 emissions New partnership to make Finland’s airspace the most environmentally friendly in the world

Finnair joins forces with air navigation service provider Fintraffic ANS to lower CO2 emissions

New partnership to make Finland’s airspace the most environmentally friendly in the world

Finnair and Finland’s air navigation service provider Fintraffic ANS have joined forces to reduce CO2 emissions and enhance commercial aviation’s environmental footprint.

Under the new initiative, Finnair will share fuel consumption data with Fintraffic ANS and the parties will together explore how to support airlines in their bid to drive down and meet new lower emissions targets. 

As part of its industry-leading commitment to sustainability, Finnair is committed to halving its net CO2 emissions by the end of 2025 and achieving carbon neutrality in 2045.

Finnair pilot, Captain Tom Hakala, is in charge of fuel efficiency of Finnair flight operations and advises how Finnair pilots can maximise their fuel-efficient flying techniques.

Canadian airline staff call for more federal help.

Canada's flight attendants are calling for more federal help and say their industry is on the brink of collapse, and they’re bringing their call for help to the doorstep of the prime minister and key cabinet members.

As part of a “Mayday” campaign, the union representing 15,000 Canadian flight attendants is launching billboards in key locations in Ottawa and the home ridings of key federal ministers, as well as an email drive that has already sent close to 6,000 messages to Prime Minister Trudeau’s inbox.

“The government called on us to help bring Canadians home when COVID-19 first struck, but they have ignored us at every turn ever since,” said Wesley Lesosky, President of the Airline Division of the Canadian Union of Public Employees (CUPE). “We’re bringing this campaign to the prime minister’s doorstep because we’re tired of being ignored, and we’re tired of being used as a political football by the airlines and the government.”

Two Airbus A320-200 aircraft placed with start up carrier Qanot Sharq Airlines of Uzbekistan

The global aircraft leasing giant, Air Lease Corporation has confirmed the placement of two Airbus A320-200 aircraft with Qanot Sharq Airlines of Uzbekistan. 

These two A320-200 aircraft are scheduled to be delivered to Qanot Sharq Airlines in March and will be the first aircraft in the fleet of the Uzbek startup airline.  

“ALC is pleased to announce this lease placement of two A320-200s with Qanot Sharq Airlines,” said AJ Abedin, Vice President, Marketing of Air Lease Corporation.  ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world.  Abedin continued “We have worked closely with the Qanot Sharq executive team and are thrilled to participate in the launch of the first Uzbek startup airline through the placement of their first two aircraft.”

“We are honoured and excited to work with one of the largest aircraft leasing companies in the world to assist with the launch of our airline,” said Nosir Abdugafarov, owner of Qanot Sharq Airlines.  “These two A320-200s are scheduled to deliver in March and will be the first two aircraft in Qanot Sharq’s fleet, ensuring the highest standard of safety and comfort for our passengers.”

About Qanot Sharq Airlines

Established as the first privately owned Airline in Uzbekistan, Qanot Sharq is led by a team of highly accomplished airline industry professionals with over 200 years of combined industry experience. The airline will operate from multiple regional airports in Uzbekistan, providing scheduled air service to international destinations such as Istanbul, Ankara (Turkey), Dubai (UAE), Jeddah, Medina (Saudi Arabia), Moscow, St. Petersburgh (Russian Federation) and Almaty (Kazakhstan).

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Virgin Red set to boost Virgin Atlantic’s Flying Club

Virgin Atlantic Flying Club members in the UK can join Virgin Red from today, with the option to link accounts to unlock even more ways to earn and spend Virgin Points

Virgin Red is Virgin's new rewards club where members can earn on the everyday and save on the extraordinary from right across the Virgin family and beyond  

Each new Virgin Red member will receive 500 bonus Virgin Points when they complete their first earn in the app

In a boost for Virgin Atlantic’s Flying Club members in the UK can sign up to Virgin Red, Virgin’s new rewards club. Through the Virgin Red app and website, which celebrates its members for living a life more Virgin, Flying Club members will unlock a wealth of new earning and spending options overnight, across a wide range of products and services from the Virgin family and beyond.

New and existing Flying Club members in the UK can now enrol in Virgin Red and seamlessly link their Flying Club account, creating a shared Virgin Points balance that they can use across either programme. At the heart of the bolstered earning and spending opportunities are Virgin Points – the universal Virgin currency that unlike many other loyalty currencies, have no expiry date.

Whilst spending opportunities on travel benefits may be temporarily restricted, by opening its doors to Flying Club members, Virgin Red introduces many new partners for the first time, enabling Flying Club members to access everyday treats and even more extraordinary experiences, some available from as little as 200 points.

Canadian Flair expanding

The Canadian ultra-low-cost carrier Flair is expanding service and will bring low fare air travel to 18 Canadian destinations by summer. 

The budget airline confirmed service to four of the new destinations will begin in May with more added in the coming months as non-essential travel within Canada safely restarts. Flair’s ambitious expansion focuses first on growing its domestic network. Flair’s network will expand beginning on May 1 st as service is added to Ottawa, ON; Kitchener-Waterloo, ON; Halifax, NS; and Saint John, NB. Flair will add service in June to Thunder Bay, ON; and Charlottetown, PE; in July to Victoria, BC; and in August to Abbotsford, BC. 

“Canadians have been paying too much for too long, and we are changing that with our ULCC model that makes getting around Canada affordable,” says Stephen Jones, President & CEO. “Providing affordable air travel within Canada is the first step in restarting travel and tourism, and Flair is uniquely positioned with the efficiencies of our low-cost model. When non-essential travel returns, Flair will be there to reconnect families and provide the low fares that have long been denied to Canadians.” 

airBaltic and Lufthansa announce codeshare agreement

Lufthansa and airBaltic are starting codeshare cooperation that will open new, seamless travel opportunities. As of March 28, Lufthansa will put its marketing codes on routes operated by airBaltic between Munich and Riga, Latvia as well as Munich and Vilnius, Lithuania. airBaltic customers will benefit from convenient access to Lufthansa’s worldwide network. At the same time, Lufthansa passengers will have more possibilities to travel from Munich to the Baltic states.

Martin Gauss, President and CEO of airBaltic: “Lufthansa is a strong connectivity provider globally, and we are pleased to strengthen our partnership and the air traffic ties between the Baltics, Germany and beyond. Germany is one of airBaltic’s key markets and we are looking forward to the partnership and through that offering better travel opportunities to the passengers around the world.”

Finnair to dismantle and recycle an A319 aircraft at Helsinki Airport

Finnair intends to dismantle and recycle an Airbus A319 aircraft, which has reached the end of its economic lifecycle at 21 years. The dismantling will begin at Helsinki Airport, where Finnair’s mechanics will remove parts that can be used elsewhere in Finnair’s fleet. These include the engine, seats, landing gear and avionics components.

“This is the first time that a Finnair aircraft is dismantled and recycled in Finland. We made the decision to take the plane apart at our home hub to optimise sustainability and economics”, says Juha Ojala, Vice President of Finnair’s Technical Operations. “This project allows us to improve the cost efficiency of maintenance operations and employ our mechanics during the pandemic when their normal workload has decreased.”

WestJet announced this week that Arved von zur Muehlen, the airline's Executive Vice-President and Chief Commercial Officer, will step down from the firm on March 5, 2021.

WestJet announced that John Weatherill will be moving into the role of Executive Vice-President and Chief Commercial Officer effective March 5, 2021. (CNW Group/WESTJET, an Alberta Partnership)

"Arved's strategic thinking and ability have been of huge value to WestJet," said Ed Sims, WestJet President and CEO. "On behalf of our WestJetters and our board of directors, we thank Arved for all he has done."

"I am grateful to our WestJetters, our guests and my colleagues on the executive team for having the opportunity to work for this great airline through some of the most pivotal times in our 25-year history," said von zur Muehlen. "I will remain a big supporter of WestJet and look forward to seeing the airline recover, as it is well-positioned for the challenges that lay ahead."

Airbus space technology reaches Mars

Airbus space technology reaches Mars

NASA's Perseverance rover relies on Airbus built weather station and communications antenna

Perseverance with MEDA and HGAS – Copyright NASA-JPL-Caltech

When NASA's Perseverance rover lands on the surface of the Red Planet next Thursday, key Airbus technology will be on board: the MEDA meteorological station will provide scientists with valuable Mars weather data and the High Gain Antenna System will ensure a high-speed comms link with Earth for the duration of the MARS2020 mission.

Perseverance will use seven scientific instruments to study the Martian biological and geological environment, including the MEDA (Mars Environmental Dynamics Analyser) meteorological station, designed and built by Airbus.

The MEDA instrument will measure many environmental parameters using sensors distributed across the rover: wind speed and direction, relative humidity, atmospheric pressure, soil and air temperatures, solar radiation and also properties of suspended dust. These parameters will also be key when making the autonomous decision to release the Ingenuity helicopter onboard the rover.

Creating the New Normal with Timeless Tokyo

Creating the New Normal with Timeless Tokyo

We all know what a huge impact COVID-19 has had on travel and tourism across the world over the past year. Most foreign visitors have been unable to visit Tokyo as Japan, along with every other country, has fought to bring the coronavirus under control.

As the situation in many countries starts to stabilise, Tokyo is planning for when it will be able to once again welcome large numbers of arrivals from around the world. 

The Tokyo government and many attractions and facilities popular with tourists have put in place a range of plans and initiatives to ensure that any tourism can take place safely and securely in the months and years to come.

Timeless Tokyo has created a one-stop-shop for information on what is being done to ensure Covid-secure tourism in Japan's incredible capital.

Find out here the resources available, information on the latest border control restrictions and what is being done to protect people across the city as well as helpful hints on tips for a safe and unforgettable visit.

Moscow Cargo Terminal at Sheremetyevo International Airport gets green light from European regulators.

It has been confirmed that Moscow Cargo LLC has been issued the RA3 certificate by the German National Civil Aviation Administration (Luftfahrt-Bundesamt), which inspects and certifies airports and airlines on behalf of the European Aviation Safety Agency (EASA).

The RA3 certificate (Regulated Agent Third Country) confirms that the terminal of Moscow Cargo LLC fully complies with all aviation security requirements established by the European Union for cargo and mail destined for or travelling through the EU countries from the territory of non-EU countries (Implementing Regulation (EU ) 2015/1998).

Moscow Cargo's registration number is RU / RA3 / 00005-01.

Brussels Airlines launches new booking platform

Brussels Airlines has switched the booking platform behind brusselsairlines.com to Amadeus e-Retail, which is currently already used for lufthansa.com. Herewith, Brussels Airlines is a first mover in a project to harmonize all four Lufthansa Group network airlines’ booking platforms. The remaining airlines, namely Austrian Airlines and SWISS will follow suit later this year. This means that from now on, Brussels Airlines offers all flights and services such as baggage booking and seat reservations of all four Lufthansa Group network airlines on its website.

Part of the Brussels Airlines embedding into the Lufthansa Group network airlines was to find further synergies within the Lufthansa Group. The strategic reason for using one common booking platform for all Lufthansa Group airlines is to offer a consistent user experience to the customers across the different platforms and make the same group-wide flight offer available across all platforms while reducing operating and development costs. Regardless of the Lufthansa Group airline the customer wants to travel with, he or she has access to the group-wide flight offer, while experiencing a modern  unified interface with new features. The harmonization of the different airlines’ booking platforms also allows making functionalities much faster available for the customers and therefore allows for quicker innovations.

Leonardo’s technology chosen to strengthen the Italian airport systems

• Milan Malpensa and Milan Bergamo international airports have chosen Leonardo to provide high-tech upgrades, following the successful delivery of previous airport projects by Leonardo in Europe and beyond
• A new baggage handling system will replace most of the existing infrastructure at Milan Malpensa and a new surveillance system will support runway operations
• Milan Bergamo airport will be equipped with a new baggage handling sorting machine 

Leonardo has strengthened its market position in the airport sector by signing contracts with SEA and SACBO, the respective management companies for Milan Malpensa and Milan Bergamo airports. Malpensa and Bergamo are the second and third busiest airports in Italy.

At Milan Malpensa, Leonardo will replace most of the existing baggage handling infrastructure with a high-tech new system. This will bring the Terminal 1 baggage handling system in line with the new European Civil Aviation Conference (ECAC) ‘Standard 3’, which requires baggage to be subject to rigorous security checks prior to being loaded onto the aircraft. Components of the system will be replaced gradually in order to ensure continuity of services for passengers.

Once fully operational, the system will comprise two MBHS® (Multisorting Baggage Handling System) cross-belt sorters, approximately two and a half kilometres of belts and associated equipment. The new technology will seamlessly interface with the existing system, ensuring that baggage is identified and tracked right from the collection phase at check in and transfers, through to delivery to the final sorting system.

Wizz Air connects Eindhoven with Chisinau and this summer also connects Eindhoven with Burgas

Hungarian airline Wizz Air continues to expand its destination network. Starting March 29, the airline will fly twice a week between Eindhoven and Chisinau, the capital of Moldova. This will expand the route network of Eindhoven Airport to 24 capital cities. The flights to/from Chisinau on Mondays and Fridays will be operated with the Airbus A320 (180 seats). The new destination is expected to attract travelers visiting family and/or friends. As far as the tourism market is concerned, Moldova is increasingly popular with vacationers looking for still fairly undiscovered areas. Chisinau also serves as a gateway for visiting Transnistria, the republic declared in 1991 and not recognized by the international community. Transnistria has its own currency and flag and is often visited by so-called "country hunters.

Wizz Air will fly twice a week to the Bulgarian port city of Burgas from 13th of June. The Wednesday and Sunday flights are operated with an Airbus A320 (180 seats). This route is offered until mid-September. Located on the Black Sea, Burgas is Bulgaria's fourth largest city and the country's largest port. Burgas is a true gateway for thousands of tourists who spend their vacations on the Black Sea every year. The city is thus also interesting for the forty thousand Bulgarians who live in the Netherlands and like to spend their vacations in their home country. In addition, the destination is attractive for travelers visiting family and/or friends. The city-which plays an important role in Bulgaria's oil industry-can also be interesting for business travelers since the port city acts as a gateway from Eastern Europe to Western Europe.

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Marriott Bonvoy refreshes mobile app

Includes New Booking Options, Enhanced Customization for Contactless Experiences and Tailored Ways to Earn and Redeem Points Beyond the Stay Toward Free Nights

Marriott Bonvoy, the travel marketplace and highly awarded travel program from Marriott International, has released a redesigned, more intuitive version of its mobile app in anticipation of increased desire and demand for travel this year. Featuring new travel shopping options based on inspiring destinations and access to more of Marriott’s vast travel offerings such as premium vacation rentals from Homes & Villas by Marriott International as well as destination tours and activities, the app will offer members even more personalized recommendations and offers to maximize their points earned when traveling and even when they are not. As the centerpiece of the company’s mobile-first mindset, the Marriott Bonvoy app ensures guests receive the best available rate; enjoy program benefits such as exclusive member rates and accruing points for stays; and enables members to customize their experience. The app will make it easier for guests to choose a contactless option for check-in and check-out, easy access to mobile keys, and the ability to request services and amenities via chat and mobile requests.

The Air France Foundation provides 52 computers for Lebanese schoolchildren

Following the disaster in Beirut in August 2020, Air France and its employees rallied round to provide aid and support to the Lebanese people. A major “Solidarité Liban” fund-raising campaign collected close to 3 tons of donations.

Six months after this tragedy, the Air France Foundation is also coming to the aid of young Lebanese schoolchildren by providing them with computers to enable them to continue their schooling. The Air France Foundation has acquired 52 computers for the benefit of the association LEM - Les enfants de la Méditerranée (Children of the Mediterranean), a humanitarian organization specializing in the development and protection of children through education and culture. In association with Air France Cargo and the Air France Division in Beirut, these 52 computers were shipped on the Air France Paris - Beirut flight on 27 January and handed over to members of the association.

 

Gulf Air's new special edition A321neoLR

Introducing the special edition A321neoLR aircraft!

Gulf Air recently welcomed the second Airbus A321neoLR to its fleet and it was the first to sport the new special vintage livery!

 

This new Airbus A321neoLR features full lie-flat sleeper seats will be scheduled on flights to Frankfurt, Paris and select flights to Cairo, Dubai, Riyadh and some destinations in India from the new Bahrain International Airport terminal.

The aircraft features 16 Falcon Gold flat-bed seats and 150 seats in the Economy cabin and all seats are equipped with the latest in-flight entertainment technology and in-seat comfort features. Sit back and relax to discover the combination of technology and innovation in design. The aircraft boasts the essence of the overall boutique experience with the opportunity to provide more personalized service, cosier cabin and faster process of boarding and disembarking. 

The new aircraft is also be equipped with a wireless internet connection (WiFi) as the airline continues to offer the best in class service to passengers flying on its young fleet.

Gulf Air’s A321neoLR is powered by CFM LEAP-1A engines and it is the largest and most advanced A320 family aircraft. Featuring the widest single-aisle cabin in the market, the A321neoLR is also more eco-friendly than other types of the same size and it delivers up to 20% fuel burn reduction per seat, up to 14% lower cash operating costs per seat and 50% noise reduction.

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Qantas making domestic travel easier

• Flexibility boosted with unlimited flight date changes
• 1 million seat sale with fares from $99 one-way
• Complimentary beer and wine in Economy

Qantas is providing even more flexibility to customers wishing to change their travel plans, now allowing unlimited flight date changes until at least January 2022.

The change coincides with a nationwide domestic sale, with more than 1 million seats on sale to 55 destinations starting from $99 and a boost to the premium-service offered on-board.

Qantas Group Chief Customer Officer, Stephanie Tully, said with international borders closed, the best way to drive tourism is by making it even easier for Australians to explore their own backyard.

“Customers have told us that sudden changes to border restrictions by state governments are giving them second thoughts about going on holidays or taking a business trip,” Ms Tully said.

“To help manage the uncertainty, we’ve introduced the highest level of flexibility in the market so people can plan their next trip with confidence.

“As the national carrier, we have an important role to play in helping the industry recover from COVID-19, and we know that given the right opportunity, people are keen to travel.

“By giving customers unlimited flight date changes for almost a year, we think it will encourage more people to book, helping to boost tourism which is so vital to local economies and businesses around the country.”

Mesa Air Group Reports First Quarter Fiscal 2021 Results

The Mesa Air Group, Inc.the regional airline that  provides scheduled flight service to 116 cities in 42 states, the District of Columbia, the Bahamas, and Mexico as well as Cargo services out of Cincinnati/Northern Kentucky International Airport, has reported its latest results.

As of December 31, 2020, Mesa operated a fleet of 159 aircraft with approximately 420 daily departures and 3,200 employees. Mesa operates all of its flights as either American Eagle, United Express, or DHL Express flights.

Highlights for the quarter:

• $18.9 million in pretax income and positive cash flow
• Signed 5-year extension with American Airlines for 40 aircraft
• Received $195 million loan under the CARES Act
• Launched cargo operations for DHL with two 737-400F aircraft
• Placed 12 new E-175 aircraft into service with United Airlines
• Continued improvement in operational performance
• No furloughs despite expiration of Payroll Support Program (PSP)
  

Air Canada Reports 2020 Annual Results

 

Total revenues of $5.833 billion in 2020 declined $13.298 billion or 70 per cent from 2019. The airline reported 2020 negative EBITDA⁽¹⁾ (excluding special items) or (earnings before interest, taxes, depreciation and amortization) of $2.043 billion compared to 2019 EBITDA of $3.636 billion.  Air Canada reported an operating loss of $3.776 billion in 2020 compared to operating income of $1.650 billion in 2019.   Unrestricted liquidity amounted to $8.013 billion at December 31, 2020.

"With today's release of 2020 fourth quarter and full year results, we close the book on the bleakest year in the history of commercial aviation, after having reported several years of record results and record growth at Air Canada. The catastrophic impact of COVID-19 and government-imposed travel restrictions and quarantines has been felt across our entire network, deeply affecting all of our stakeholders. It has resulted in a 73 per cent decline in passengers carried at Air Canada during the year and an operating loss of nearly $3.8 billion. Yet, despite a year-long onslaught of bad news, uncertainty and challenges posed by constantly changing requirements, our employees valiantly served our remaining customers professionally and transported them safely to their destinations, operated hundreds of repatriation flights and our Cargo team transported essential Personal Protective Equipment to Canada and around the world. I commend them for their courage as well as for their tireless efforts in these exceptionally trying circumstances to position our company well for when we emerge from the pandemic," said Calin Rovinescu, President and Chief Executive Officer of Air Canada.

Spirit Airlines Reports Fourth Quarter and Full Year 2020 Results

“Soft demand driven by pandemic-related concerns continues to have a significant impact on our operating results. However, our leading low-cost structure remains a key advantage and positions us well to compete in this environment and beyond. Our load factor and Adjusted EBITDA margin for the fourth quarter 2020 are among the best in the industry, illustrating the strength of our business model,” said Ted Christie, Spirit’s President and Chief Executive Officer. “While the road to recovery is anticipated to be choppy, we are confident we will be among the first U.S. carriers to return to profitability.”

Spirit continues to be recognized for a strong reputation within the airline industry and across all industries. The company’s latest accolade was being named to FORTUNE's 2021 list of World's Most Admired^® Companies. Spirit is one of only three U.S. airlines included on the list, which surveyed top executives and directors from eligible companies, industry experts and financial analysts.

 

Lufthansa Group Airlines extend option for free rebooking

Since the end of August, all fares of Lufthansa, SWISS, Austrian Airlines, Brussels Airlines and Eurowings can be rebooked without a rebooking fee. Originally, this fare offer was valid for (re-)bookings until the end of February. Now the offer is being extended again: all airline fares can now be rebooked free of charge as often as desired up to May 31, 2021, if the rebooking is also made before that date. After that, another rebooking is possible free of charge.

Lufthansa Group Airlines had already made it possible for its customers to rebook their tickets without a fee last year. The waiver of the rebooking fee applies worldwide for all new bookings in all fares on short, medium and long-haul routes. This enables flexible travel planning for all Lufthansa Group Airlines customers.

However, additional costs may arise for rebookings if, for example, the original booking class is no longer available when rebooking to a different date or to a different destination.

Also, rebooking of tickets issued up to and including August 31, 2020, can now be done until May 31, 2021.

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Icelandair Group records a net loss of $376.2 million in 2020.... sells off the last of its hotel business and looks to the future...

Massive loss for Icelandair during the last quater and the whole of last year.....  

 

The troubled Icelandair Group has reached an agreement with Berjaya regarding sale of its remaining 25% share in Icelandair Hotels, the company has confirmed this week.

The firm will take in $3.4 million for the sale, which translate to just a book value of $13,000 and soon the Icelandair Hotels name will be dropped as Berjaya will be rebrand the hotels.

Bogi Nils Bogason, President & CEO of Icelandair Group:  "The sale of the remaining shares in Icelandair Hotels is in line with the Company’s strategy of focusing on our core business, aviation and related services, going forward. I want to thank all the employees of Icelandair Hotels for their cooperation and their contribution in building up numerous high-quality hotels in Iceland, leading to a unique experience for our guests. I am confident that Iceland will continue to be an attractive tourist destination following the pandemic and that Icelandair Hotels will continue to play an important role in the further development of the Icelandic tourism market in the coming years. I want to thank Berjaya for a good cooperation during the past year and wish them and Icelandair Hotels all the best for the future."