Air Greenland Group delivers 'satisfactory result' despite 'challenges' in 2024

Air Greenland Group reported (14-Apr-2025) a "satisfactory result" for 2024, "despite significant upheavals and operational challenges". The group realised a pre-tax profit of DKK60.8 million, driven by increased revenue and higher activity levels. However, costs rose at a faster pace, primarily due to operational irregularities and elevated expenses in technical maintenance and direct production. Irregularity costs exceeded DKK100 million, and in addition to disruptions derived from the extension of the runway in Nuuk, the group faced increased challenges due to more volatile weather conditions. Derived from the new runways in Nuuk, Qaqortoq and Ilulissat, Air Greenland is investing a total of DKK475 million in buildings and other assets in the period 2022 to 2026 to be able to maintain domestic operations. In 2024, the group established a DKK275 million loan facility, of which DKK175 million was utilised. A further expansion of the facility is anticipated in 2025. Chairman Malik Hegelund Olsen commented: "2024 has been a landmark year for both Greenland and Air Greenland". Mr Olsen continued: "The opening of Nuuk's new international airport on 28-Nov-2025 was a milestone that not only marked the end of many years of preparations, but also the beginning of a new era for the country's accessibility". [more - original PR]