Protected: In-depth info for board & investors

Rationale
The profile of Hugarró’s target clientele — high-net-worth individuals and discerning travellers for whom time and seamless experience are paramount — makes helicopter access a natural and expected feature of the offering. Several comparable ultra-luxury retreats across Europe and further afield have made private aviation access a defining element of their guest journey, and the expectation is increasingly standard at this market tier. Offering it from day one positions Hugarró firmly within that peer group.

Location constraints
Botnsdalur’s value lies precisely in its seclusion and tranquillity. Introducing helicopter traffic directly at or adjacent to the property would undermine that core asset — for the arriving guests themselves as much as for those already on site. We have therefore set a clear constraint: any landing facility must be located no more than 10 minutes by road from the property, far enough to remove all noise and visual impact, while still delivering a swift and comfortable ground transfer.

Candidate site
Initial reconnaissance has identified the industrial waterfront area in Hvalfjördur as a strong candidate. The facilities operated by Scandinavian Tank Storage AB and Olíudreifing (ODR) in the fjord represent the type of non-residential, infrastructure-grade environment that suits this purpose well.

Key advantages include:

• Industrial zoning — no residential neighbours, minimal risk of noise complaints
• Open terrain with good sightlines and approach paths
• Road access to Botnsdalur within the target transfer window
• Potential proximity to Jet A1 aviation fuel storage

We intend to approach both operators to explore the possibility of a long-term land lease for a dedicated landing area. Conversations are at an early stage and no commitments have been made.

Regulatory path
Iceland’s regulatory framework — governed by the Icelandic Transport Authority (Icetra) under Regulation 464/2007 — provides a clear and well-defined route for registering a ground-level helicopter landing site. Given the intended frequency of operations (several flights per week), we will pursue full registration as a landing site rather than relying on informal cleared-area status.

This is the responsible and commercially appropriate choice, for several reasons:

• Registration gives guests, operators, and insurers confidence in the facility’s legitimacy
• It eliminates any ambiguity around whether the site constitutes an unlicensed facility
• It establishes a formal operational record, which will support future scaling or route development
• A registered site can be published in the Aeronautical Information Publication (AIP), making it accessible to any operator flying guests to Hugarró

The registration process under Icetra is manageable and well-precedented for sites of this nature.

Next steps