Isavia Company Business & Marketing Essay Research (Essay Sample)

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Isavia Ohf.
This is a publicly owned company responsible for Keflavik Airport's operation, maintenance, and development. Its subsidiaries operate Iceland's scheduled domestic airports and landing areas, duty-free markets, and air navigation systems for domestic and foreign flights covering 5.4 million square km of North Atlantic territory. In compliance with internationally recognized requirements and international legal commitments, we ensure flight safety and airport security. We are governed by the Icelandic Transport Authority and approved by it.
The duties of Isavia were the responsibility of the Icelandic Civil Aviation Administration (ICAA) and the Keflavik Civil Aviation Administration until 2006 “when the air navigation services and airport activities of the ICAA were split from their administrative and supervisory functions.” (Dobson 12) It was administered by the Ministry of Foreign Affairs until the beginning of 2008 when it was transferred to the Ministry of Transport. Keflavíkurflugvöllur a publicly held corporation was formed in 2008 to oversee the operation, maintenance, and growth of the airport and terminal, in addition to flight operator services and airport use management for security and defense purposes. On 1 January 2009, this company launched operations. The Ministry of Transport controlled the state holding in the corporation until the end of 2009 when the responsibility for government holdings of publicly held corporations was passed to the Minister of Finance. On 1 May 2010, two publicly held companies combined into Isavia ohf, Flugstoðir, and Keflavíkurflugvöllur. This has laid the groundwork for modern aviation and industrial activities and services. The Minister of Finance continues to control the company's state ownership, while the Minister of Transport accounts for line-ministry supervision.