11 2017 Annual Report
Presentation of the Annual Report This is Isavia’s second Annual and Social Report, which follows the guidelines of the Global Reporting Initiative (GRI G4) together with special provisions on the operation of airports. It is a pleasure to see how well the company has succeeded in following the guidance set in 2016 on social responsibility, focusing on striking a balance between economy, environment and society. Focus has also been placed on meeting the provisions of the general owner policy of the state on publicly owned companies.
are under way for equal pay certification and are expected to be completed by the end of 2018.
The need for improvements at domestic airports
Isavia’s role in operating and developing domestic airports is set out in its service agreement with the Ministry of Transport. Responsibility for funding such operations and development lies with the state. Funding is determined for one year at a time, and it is clear from experience that it is difficult and inefficient to handle operations and development of the scale necessitated IT IS A P L E A SU R E TO SEE HOW WEL L T H E COM PA NY by airport security HAS SUCCEEDED IN FOLLOWING THE GUIDANCE SET requirements without I N 2 0 1 6 O N S O C I A L R E S P O N S I B I L I T Y, F O C U S I N G O N long-term funding being S T R I K I N G A B A L A N C E B E T W E E N E C O N O M Y , E N V I R O N - guaranteed. Furthermore, a persistent lack of operating M E N T A N D S O C I E T Y. income has meant that it has been impossible to carry out satisfactory maintenance. Many airports have This policy states that the company shall set therefore reached a state where they will soon be policies on environmental matters, sustainable closed down if proper action is not taken. development, social responsibility , human resource and remuneration. Policies have been formulated Last year, new rules from the European Aviation for Isavia in all these areas, and the company has Safety Agency (EASA) entered into force, setting also set policies on risk, procurement, marketing, stricter requirements for operating international safety, quality and information security. airports. As well as Keflavík Airport, the airports in Akureyri, Egilsstaðir and Reykjavik also need to Governance meet these requirements, as they are all classed The Board of Directors of Isavia has laid down as international airports. The changes involved a detailed rules, including provision for following the review of the operating manuals of the airports Guidelines on Corporate Governance published in question, describing how the requirements laid by the Iceland Chamber of Commerce, SA down in the new rules are to be met. Confederation of Icelandic Enterprice and Nasdaq OMX Iceland. These rules, as well as a description of the company’s governance updated in March Growth in air navigation services 2018, are available on the company’s website. Isavia Isavia’s air navigation services have not been attaches importance to equal pay and was awarded unaffected by the increase in international flights PwC’s gold medal in the company’s equal pay audit in recent years. There has been much development in 2017, for the third year in a row. Preparations in technical solutions and staff training to handle