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    Home AMERICAS Greenland

    Chairman of the board emphasizes openness – but still does not give a clear answer about 130 million

    The Analyst by The Analyst
    October 23, 2026
    in Greenland
    Chairman of the board emphasizes openness – but still does not give a clear answer about 130 million


    – Greenland Airports is trying in every way to be transparent and live up to the demands made by the owner and society.

    Chairman of the board Jens Wittrup Willumsen emphasizes this, after Transparency International Greenland’s chairman, Inuk Lundblad, in today’s second article criticized the absence of clear answers about the company’s accounts.

    – Greenland Airports is trying in every way to be transparent and live up to the demands made by the owner and society.

    Chairman of the board Jens Wittrup Willumsen emphasizes this, after Transparency International Greenland’s chairman, Inuk Lundblad, in today’s second article criticized the absence of clear answers about the company’s accounts.

    ALSO READ

    Transparency International Greenland: Owner and board must ensure clear answers from Greenland Airports

    Specifically, Transparency International Greenland has reacted to the fact that Greenland Airports will not tell why an amount of DKK 130 million has been introduced in a certain way in the company’s accounts for 2024, which affects the impression of the company’s operations. Read more about the technical background in the fact box.

    The chairman of the board of Greenland Airports emphasizes, just as his management has done in the past, that neither the company nor individual individuals have had any gain from any mistakes that have been made.

    – At the same time, of course, we will have a conversation internally and with our auditing company (Grønlands Revision, ed.), which must help prevent similar errors occurring in the future, writes Jens Wittrup Willumsen.

    However, it is unclear to Sermitsiaq whether the chairman of the board is referring to errors that have previously been acknowledged, or whether he also considers the current case of 130 million to be a mistake.

    Sermitsiaq is therefore asking for clarification from the chairman of the board. Has he just acknowledged on behalf of the company that the placement of the 130 million in the 2024 accounts was decidedly wrong?

    THE 130 MILLION QUESTION

    The question, which Greenland Airports does not clearly answer, is about 130 million, which is a capital gain from a loan restructuring.

    The amount is included in the 2024 accounts’ calculation of how much money the group’s operations have put into the coffers. Sermitsiaq has asked how the amount belongs there.

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    The position in the accounts is decisive for the calculation of whether more money comes into the coffers from operations than goes out.

    The 2024 accounts show that the operating cash flow was approximately DKK 87 million plus. If the DKK 130 million is to be subtracted from this context, it will instead be approximately DKK 43 million in the red.

    Therefore, any misplacement of the 130 million will give a misleading impression of the company’s operations.

    If so, it will be two years in a row that a misplaced amount turns a minus in reality into a plus, as Greenland Airports has already acknowledged a similar error in the 2025 accounts.

    – We recognize that it could be classified differently. And we would like to emphasize that neither banks nor other business partners have suffered from the choice of classification, Jens Wittrup Willumsen writes back.

    In the original response via the communications department, Greenland Airports’ chairman also mentions how he and the company maintain extensive meeting activity to ensure its obligations within openness.

    – The company has an internal audit committee which reviews accounts and protocols, and meetings are held with the audit. The board deals with the company’s finances very frequently at, and between, board meetings, says the chairman, among other things.

    He also emphasizes regular contact with the owners:

    – This is precisely due to the required transparency in relation to the completion of the new airports and the large amount of money that has been invested in them, writes Jens Wittrup Willumsen.

    – The company has no further comments on the submitted accounts, writes the chairman of the board and emphasizes that, overall, they give a fair picture of the company’s finances.





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