Atlantic Airways

What Atlantic Airways does

Atlantic Airways P/F is the national airline of the Faroe Islands, headquartered at Vága Floghavn (Vágar Airport)—the only commercial airport serving the autonomous Danish territory. Founded on November 10, 1987 and operational since 1988, the carrier operates scheduled passenger service from a single hub connecting the archipelago to 13+ destinations including Copenhagen, Billund, Aalborg, Paris, London Gatwick, Oslo, Reykjavik, Edinburgh, Barcelona, Mallorca, Gran Canaria, and Tenerife (seasonal), as well as a transatlantic route to New York Stewart International launched August 22, 2023. Since 2014, the airline has been wholly owned by the Faroese Government (Landsstýrið), which repurchased the minority stake originally floated on the Iceland Stock Exchange in 2007. Beyond scheduled flights, the company runs charter services (sports, corporate, offshore oil and gas crew transport), search-and-rescue helicopter operations under a multi-year Faroese government contract, and—through a joint venture with LÍV and Hilton—the Hilton Garden Inn Faroe Islands hotel opened in October 2020.

The airline operates an all-Airbus narrowbody fleet (A320, A320neo, A319) leased primarily through Air Lease Corporation, supplemented by two AW139 helicopters acquired 2015 to replace Bell 412s. A defining technical asset is the proprietary RNP AR 0.1 navigation technology enabling precision approaches in the North Atlantic's poor-visibility conditions, materially improving regularity versus peer operators. The supporting digital ecosystem comprises iOS/Android mobile apps, the Súlubonus loyalty program with BASALT and GULL tiers, the Sveiggj youth/student discount product, and a customer service operation capable of handling 21,000+ emails and 10,000+ ticket changes during peak disruption periods. Distribution combines direct booking (atlantic.fo, mobile app), travel agency portals via Agent Entrance, and interline/codeshare arrangements with 10+ partner airlines including Icelandair, Air France, KLM (codeshare), SAS, Finnair, British Airways, Turkish Airlines, Widerøe, Air Baltic, and Hahn Air.

Revenue derives from five streams: scheduled passenger ticket sales across three fare tiers (LÁGPRÍS, SVEIM, SVEIM+), ancillary fees (extra baggage 249 DKK pre-booked, seat selection 75 DKK), charter contracts (oil and gas, sports, corporate), helicopter SAR and offshore services (historical B2B clients: Statoil, BP, Amerada Hess), and managed hotel operations through the Hilton partnership. The company employs 184-285 staff depending on point-in-time restructuring. Government support has been recurrent: a 100 million DKK COVID-19 liquidity injection in 2020 followed a 2009 restructuring that reduced headcount from 285 to 165, and a further 90 layoffs during the pandemic; capital structure remains fully state-backed, with 228.3 million DKK equity and a 56% solvency ratio disclosed as of 2010.

Name

Atlantic Airways

Legal name

P/F Atlantic Airways

Website

https://atlantic.fo

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

101–250 employees

Short description

Atlantic Airways is the state-owned national airline of the Faroe Islands, operating scheduled passenger flights, charter services, and helicopter search-and-rescue operations connecting the remote archipelago to 13+ European destinations, seasonal sun routes, and a New York transatlantic service launched in 2023.

Ownership category

akta.pro rank

Product category

Regional Airline Services

NAICS

Scheduled Passenger Air Transportation (481111), Air Transportation (481), Nonscheduled Chartered Passenger Air Transportation (481211)

SIC

Air Transportation, Scheduled (4512), Air Transportation, Nonscheduled (4522)

akta.pro primary industry

Short-/Medium-Haul Full-Service Airlines (Narrowbody Network Operators) (THABAAAI)

akta.pro secondary industries

Thin-Route / Rural Community Regional Airlines (THABACAI), Essential Air Service (EAS) & Subsidized Regional Operators (THABACAC)

Keywords

• Scheduled passenger flights
• Regional airline services
• Helicopter charter services
• Aviation training academy
• Airline loyalty program

Headquarters

HQ city

Sørvágur

HQ country

Faroe Islands

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Passenger Ticket Sales: Core revenue from scheduled passenger flights on regional routes between the Faroe Islands and destinations in Europe (Copenhagen, Billund, Aalborg, Paris, London, Oslo, Reykjavik, Edinburgh) and sun destinations (Barcelona, Mallorca, Gran Canaria, Tenerife). Revenue varies by fare type (LÁGPRÍS, SVEIM, SVEIM+).
2. Charter Services: Charter flights for sporting events, corporate groups, and ad-hoc services. Notable examples include chartering flights for the Faroe Islands handball and football teams, and transport for oil industry personnel.
3. Ancillary Services: Revenue from baggage fees (extra baggage, overweight luggage), seat selection, lounge access, Sveiggj youth fares, Súlubonus loyalty program, and duty-free shopping.
4. Helicopter Services: Search and rescue operations, emergency medical services, and transport for offshore oil operations. The AW139 helicopters replaced Bell 412 helicopters in 2015 for improved search and rescue capabilities.
5. Hotel Operations (Hilton Garden Inn Faroe Islands): Atlantic Airways partnered with LÍV and Hilton to develop and operate Hilton Garden Inn Faroe Islands, opened October 2020, providing accommodation revenue from tourism to the islands.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Atlantic Airways is the national airline of the Faroe Islands, operating scheduled passenger flights connecting the Faroes to European destinations (Copenhagen, Billund, Barcelona, Aalborg, Reykjavik, Edinburgh, Gran Canaria, Paris, and charter destinations). It also provides helicopter services for search and rescue operations and offshore oil/gas industry support, alongside ancillary passenger services (baggage, unaccompanied minors, special assistance, EU 261 claims) and group/charter bookings.

Product overview

Atlantic Airways is a regional airline operating scheduled passenger flights connecting the Faroe Islands to destinations across Europe (Denmark, UK, France, Norway), the North Atlantic (Iceland, Scotland), and sun destinations (Spain, Canary Islands). The company also operates a transatlantic route to New York. The product portfolio centers on airline ticket sales and travel services, supported by a digital ecosystem comprising the Atlantic Airways mobile app (iOS/Android) for booking and check-in. Loyalty is managed through Súlubonus, a frequent flyer program with tier levels (BASALT, GULL) offering points redeemable for flights, lounge access, and fast-track privileges. Ancillary services include youth discounts (SVEIGGJ), group travel bookings, baggage handling, unaccompanied minor assistance, special accessibility services, and EU 261 compensation processing. A codeshare agreement with Air France and KLM extends route access and enables Flying Blue point earning on qualifying routes.

Differentiator

Problem solved

Functional benefit

Products and services

• Scheduled Passenger Flights Year-round and seasonal scheduled passenger air service from the Faroe Islands to European leisure and business destinations, available in three published fare tiers: LÁGPRÍS (low-fare), SVEIM (standard), and SVEIM+ (flexible).
• Helicopter Services Helicopter transport for search and rescue, medical evacuation, and offshore oil/gas industry personnel transport, providing critical year-round connectivity to Faroese communities and industry.
• Súlubonus Loyalty Program Frequent flyer rewards program for individual passengers who earn Súlubonus points on Atlantic Airways flights, redeemable for award tickets and benefits.
• SVEIGGJ Youth Discount Discounted fare option for young passengers on Atlantic Airways scheduled flights, providing reduced ticket pricing tailored to student and youth travelers.
• Group Travel Bookings Bookings for organized groups of passengers traveling together on scheduled or charter flights, with dedicated handling by the airline's group travel department.
• Charter Flights Non-scheduled charter aircraft hire operated by Atlantic Airways to destinations including seasonal leisure routes such as Gran Canaria.
• Atlantic Airways Aviation Academy Aviation training academy operated by Atlantic Airways, delivering pilot and aviation training programs supported by airline-owned flight training devices and simulators.
• Atlantic Airways Mobile App Mobile application enabling passengers to book Atlantic Airways flights, complete check-in, manage reservations, and access boarding passes.
• Codeshare Flight Services Atlantic Airways flights sold under partner airline designators (and partner-operated services marketed under Atlantic Airways' code) through codeshare agreements that extend route coverage.

Quantifiable outcome

• 380,000+ passengers transported in 2025, setting new record
• +2 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

15 partnerships are on record, tiered major, core and minor.

• Thales GroupmajorTechnology or Integration · 1 January 2022French technology company providing flight simulator for helicopter training. Contract signed June 2022 for approximately 100 million DKK simulator to be operational Q1 2024.
• Air Lease CorporationcoreOthers · 1 January 2018US aircraft leasing company providing long-term operating leases for Airbus A320neo aircraft. Multiple lease agreements signed 2018-2020 for new technology fuel-efficient aircraft.
• Hilton Hotels & Resorts / LÍVmajorStrategic or Co-development Partner · 1 January 2018Joint venture with LÍV and Hilton to develop Hilton Garden Inn Faroe Islands at Staravegin in Tórshavn. Opened October 2020. Atlantic Airways part of hotel ownership/referral network.
• Norðurlandahúsið, Tórshavnar kommuna, MentamálaráðiðminorStrategic or Co-development Partner · 1 January 2018Partnership for 'Loftbrúnna' program supporting Faroese artists' international travel for cultural promotion. Three-year agreement signed March 2019.
• IcelandaircoreChannel Partner/ Reseller/ DistributorInterline agreement enabling passengers to book through-connecting journeys with baggage checked through to final destination. Icelandair passengers can access Atlantic Airways routes between Faroe Islands and Iceland.
• Air FrancecoreChannel Partner/ Reseller/ DistributorCodeshare partnership with Air France, where Air France flight numbers appear on Atlantic Airways routes. Enables Flying Blue members to earn miles on Atlantic Airways flights.
• KLM Royal Dutch AirlinescoreChannel Partner/ Reseller/ DistributorCodeshare partnership with KLM, where KLM flight numbers appear on Atlantic Airways routes. Flying Blue members can earn miles on Atlantic Airways flights.
• SAS (Scandinavian Airlines)coreChannel Partner/ Reseller/ DistributorInterline partnership providing connectivity for SAS passengers to/from Faroe Islands. Previously had EuroBonus partnership for loyalty points, which was restructured in 2016.
• FinnairminorChannel Partner/ Reseller/ DistributorInterline agreement for seamless travel connections between Finnair European routes and Atlantic Airways Faroe Islands routes.
• British AirwaysminorChannel Partner/ Reseller/ DistributorInterline partnership for baggage interlining and ticket issuance through BA for Atlantic Airways routes.
• Turkish AirlinesminorChannel Partner/ Reseller/ DistributorInterline agreement providing connectivity between Turkish Airlines' global network and Atlantic Airways routes.
• WiderøeminorChannel Partner/ Reseller/ DistributorInterline partnership with Norwegian regional carrier Widerøe for regional connectivity.
• Air BalticminorChannel Partner/ Reseller/ DistributorInterline agreement with Baltic Airlines for connections between Baltic region and Faroe Islands.
• Hahn AirminorChannel Partner/ Reseller/ DistributorInterline partner enabling ticket issuance through Hahn Air's ticketing network for markets where Atlantic Airways does not have local presence.
• Airbus (EADS)coreTechnology or IntegrationAircraft manufacturer supplying Airbus A320, A320neo, and A319 aircraft. Contract for two new A320neo aircraft signed June 2019. Partnership for fleet modernization and support.

Scale indicators8 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• SATA Air Açores: SATA Air Açores operates scheduled inter-island and transatlantic services from the Azores archipelago, a remote Portuguese island group. Like Atlantic Airways, it serves as a vital connectivity provider for a small island population and is a public-interest national carrier dependent on tourism and government support.
• Luxair: Luxair is the national carrier of Luxembourg, offering scheduled passenger services to European leisure and business destinations with a small narrowbody fleet. It mirrors Atlantic Airways' profile as a small national flag carrier with diversified revenue streams and limited home market.
• Binter Canarias: Binter Canarias is the regional carrier of the Canary Islands, operating inter-island scheduled services and connections to mainland Spain/Europe. It is comparable to Atlantic Airways in operating from a remote island group with thin routes, scheduled and charter operations, and strong inter-island focus.
• Widerøe: Widerøe is a Norwegian regional carrier operating thin-route and remote-community air services, frequently partnering with SAS. Comparable to Atlantic Airways in connecting remote/archipelago communities, operating small narrowbody aircraft, and serving as an interline partner in the same Nordic route ecosystem.
• Loganair: Loganair is a UK regional carrier operating scheduled services to remote and island communities (e.g., Scottish Isles). It shares Atlantic Airways' profile as a small carrier serving thin routes to geographically constrained destinations with weather-dependent operations.
• Air Greenland: Air Greenland is the national carrier of Greenland, providing scheduled passenger and helicopter services to remote Arctic communities. It is structurally analogous to Atlantic Airways as a state-owned carrier operating in challenging North Atlantic conditions with thin routes, search-and-rescue, and limited addressable market.
• PLAY: PLAY is an Icelandic low-cost carrier operating transatlantic services between Iceland, Europe, and North America. It is comparable to Atlantic Airways as a North Atlantic narrowbody operator serving Reykjavik connections and competing on the transatlantic New York route Atlantic Airways launched in 2023.
• Icelandair: Icelandair is the Icelandic flag carrier and the most directly comparable peer—operating North Atlantic narrowbody routes from a remote island hub, serving a small domestic market, and running scheduled passenger services plus cargo. Icelandair is also an Atlantic Airways interline partner, confirming deep operational overlap.

Broad incumbents

• Air Baltic: Air Baltic is a larger regional carrier operating scheduled services across the Baltic region and major European destinations. It is comparable as a state-influenced European narrowbody operator in the same interline network as Atlantic Airways, but at meaningfully larger scale and broader geographic scope.
• Finnair: Finnair is the Finnish flag carrier with a large European and intercontinental network. While much larger than Atlantic Airways, it is an interline partner and serves as a comparable broad incumbent offering codeshare and connectivity into the Nordic network.

Market position

Strengths4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/atlanticairways
• LinkedInlinkedin.com/company/atlanticairways
• Instagraminstagram.com/atlanticairways

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Atlantic Airways