ANNUAL REPORT 2017 Director-General's Statement
ANNUAL REPORT 2017 LFV is with you on the travel
ANNUAL REPORT 2017 This is LFV
ANNUAL REPORT 2017 The Year in Brief
ANNUAL REPORT 2017 Operating Environment and Marke
t
OPERATING ENVIRONMENT AND MARKET 5 per cent, was
the increase of the airspace movements in Sweden 2017. In the first reference period, RP1, 2012– 2014, LFV achieved all targets, set by the EU. For the current period, RP2, 2015– 2019, LFV has achieved the targets, so far. The most challenging target is that the charges for traffic in the Swedish airspace is to be reduced with 17 per cent. For the third reference period, RP3, 2020–2024, the airlines require further cost reductions of around 30 per cent in Europe. The air navigation service providers stands for the major part of the en route charges, e.g. the charge for the airlines when they traffic an airspace. There is a risk that an overly severe cost LFV ANNUAL REPORT 2017 control may affect the achievement of targets for the capacity, and thus the delivery. In LFV’s opinion, the performance targets should be balanced and the performance control should be reviewed and developed towards a model, based on national prerequisites, determined through external audits or reviews of the efficiency of the air navigation service providers and in cooperation with the airlines. The security policy situation In recent years, the Swedish Armed Forces has restructured its resources and activities from a focus on peace-keeping activities abroad, to a more national focus. For LFV, this entails that the Swedish Armed Forces requires more officers of the reserve in the airports where we operate. Issues regarding preparedness and civil defense has increased in scope and LFV participates in the review of the Swedish Armed Forces. In the appropriation directions of the year, LFV is commissioned to review the resources, skills, and equipment needed to achieve the new requirements. TRENDS AFFECTING AVIATION AND AIRSPACE DEVELOPMENT FOR THE NEXT FIVE YEARS • Moderate traffic development in Europe • Larger aircraft and more direct lines • Strong growth in the Middle East and Asia • Still relatively low oil prices • Continued revenue control from the EU through the SES legislation (RP3 2020–2024) • Technology development, automation, and digitalisation • Increased requirements and regulations from the operating environment (EU/ EASA/ICAO) • The environmental impact of aviation • Increased societal requirements on the reliability of the infrastructure • Greater competition for aviation-related services • Cyber security • The number of drones • The security policy situation 11
ANNUAL REPORT 2017 Strategy and Objectives
ANNUAL REPORT 2017 Customer Focus
ANNUAL REPORT 2017 Environment
ANNUAL REPORT 2017 Aviation Safety
ANNUAL REPORT 2017 Innovation
ANNUAL REPORT 2017 Cooperation and Partnerships
ANNUAL REPORT 2017 Employees
ANNUAL REPORT 2017 Board of Director's Report
ANNUAL REPORT 2017 Income Statement, Comments on t
he Income Statement
ANNUAL REPORT 2017 Balance Sheet
ANNUAL REPORT 2017 Comments on the balance sheet a
nd funds statements
ANNUAL REPORT 2017 Financing
ANNUAL REPORT 2017 Accounting and Valuation Princi
ples
ANNUAL REPORT 2017 Notes
ANNUAL REPORT 2017 Investments
ANNUAL REPORT 2017 Reporting in Accordance with Pe
rformance Plan
ANNUAL REPORT 2017 Reporting in Accordance with Ap
propriation Directions
ANNUAL REPORT 2017 Risk Management
ANNUAL REPORT 2017 Dividend Proposal
ANNUAL REPORT 2017 Audit Report
ANNUAL REPORT 2017 Board of Directors
ANNUAL REPORT 2017 Group Management
ANNUAL REPORT 2017 Five Years at a Glance
ANNUAL REPORT 2017 Abbreviations and Explanations