Atlantic Airways Due Diligence
Run due diligence on Atlantic Airways: check compliance and get alerts when suppliers or ownership change.
Faroe Islands · owned by Independent (Faroe Islands) · www.atlantic.fo · 13 vendors
Atlantic Airways is the national airline of the Faroe Islands, operating scheduled international routes from the Faroe Islands to multiple destinations across Europe, as well as inter-island helicopter services. The company also provides charter flights, helicopter search-and-rescue and medical transport services, operates a flight training academy (Atlantic Airways Aviation Academy), and owns hotels including Hilton Garden Inn Faroe Islands and Hotel Vágar.
Resilience scores
- Digital Sovereignty: 0
- Digital Resilience: 7
- Financial Resilience: 7
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Insights
Last updated 2026-09-08 · revision 3
13 direct vendors, 138 subvendors
Direct vendors by controlling owner country (sample)
- United States: 9
- Ireland: 1
- Spain: 1
Subvendors by controlling owner country (sample)
- Sweden: 5
- China: 3
- India: 2
Compliance
9 in-scope frameworks identified; showing 3.
EU Regulation 261 — Evidence found
Evidence: https://www.atlantic.fo/alt-um-ferdina/eftir-flogferd/raettindi-i-sambandi-vid-seinking-og-avlysing/, https://www.atlantic.fo/alt-um-ferdina/eftir-flogferd/endurgjald-fyri-seinkingavlysing/, https://www.atlantic.fo/alt-um-ferdina/eftir-flogferd/umsokn-um-seinkingarvattan/
SOC 2 (source) — No public evidence
Evidence: https://www.atlantic.fo/alt-um-ferdina/veiting-umbord/atlantic-connect/, https://www.atlanticairways.academy/
ICAO Standards and Recommended Practices — Evidence found
Evidence: https://www.atlantic.fo/um-okkum/felagid/, https://www.atlantic.fo/tyrlan/
Financials
Three-year financials
- 2023: revenue DKK 1,010M, EBIT DKK 93M, equity DKK 550M
- 2022: revenue DKK 896M, EBIT DKK 101M, equity DKK 500M
- 2021: revenue DKK 576M, EBIT DKK 10M, equity DKK 430M
Financial Resilience Score: 7/10
Atlantic Airways demonstrates solid financial resilience underpinned by 100% Faroese Government ownership, which provides an implicit backstop and strategic national-infrastructure status. The company benefits from a recurring, non-cyclical revenue stream through its public-service contract for helicopter SAR, medevac, and inter-island transport, which smooths passenger-cycle volatility. Post-COVID recovery has been strong, with record profitability achieved in 2022 and 2023, and equity has grown steadily through retained earnings. The airline enjoys a de-facto monopoly on several Faroese routes (particularly Vágar–Copenhagen) with limited competition, and its diversified revenue mix across scheduled flights, charter/ACMI, helicopter operations, aviation training, and hotels provides multiple income streams. A modern Airbus A320-family and AW139 fleet reduces fuel burn and maintenance risk. However, resilience is constrained by the small home market (Faroe Islands population ~54,000), heavy route concentration on Copenhagen, weather/operational risk at Vágar, USD-denominated fuel exposure versus DKK/EUR/GBP ticket revenue, and emerging low-cost competition. The upcoming capex cycle for A320neo transition and helicopter replacement will require significant investment, and the airline's small scale limits bargaining power on fuel, insurance, and distribution.
Key strengths: 100% Faroese Government ownership providing implicit state backstop, Public-service contract for helicopter SAR/medevac providing recurring revenue, De-facto monopoly on key Faroese routes (Vágar–Copenhagen), Diversified revenue mix across scheduled, charter, helicopter, training, and hotels, Modern Airbus A320-family and AW139 fleet, Strong post-COVID profitability recovery in 2022 and 2023, Steady equity growth through retained earnings
Risk factors: Small home market (Faroe Islands population ~54,000), Heavy route concentration on Copenhagen, Weather and operational risk at challenging Vágar airfield, Fuel (USD) and FX exposure versus DKK/EUR/GBP revenue, Emerging competition from low-cost carriers at Vágar, Upcoming capex cycle for A320neo and helicopter fleet renewal, Small scale limiting bargaining power on fuel, insurance, distribution, High dependence on tourism and diaspora traffic
Revenue by geography
- Denmark (Copenhagen, Billund, Aalborg): 55%
- Southern Europe (Barcelona, Canaries, Paris): 13%
- Nordic (Iceland, Norway): 12%
- UK (London, Edinburgh): 10%
- Charter Europe-wide and other: 10%
Revenue by product/service
- Scheduled passenger flights (A320): 78%
- Charter/ACMI operations: 10%
- Hotels, Aviation Academy and ancillaries: 6%
- Helicopter (including public-service contract): 6%
Workforce by country
- Faroe Islands: 280
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