• About

About Icelandair Group

Icelandair Group‘s business concept is built on Icelandair‘s Route Network and on marketing Iceland as a year-round destination.

In 2017 the Group employed an average of 3,900 full-time employees, generated total revenues in excess of USD 1.4 billion and carried 4.0 million passengers on its international and regional flights.


Route Network

Iceland´s uniquely central location between Europe and North America is the key to our hub-and-spoke network.

In 2018 the Route Network will connect 26 European airports with 23 North American airports through the Company's hub. The number of passengers in 2018 is projected at about 4.2 million, with 26 Boeing 757 narrow-body aircraft, 4 Boeing 767 wide-body aircraft and 3 B737 MAX8 aircraft serving the Route Network.

The Group’s long-term strategy remains firmly centred on five key points


Focusing on route networks and tourism services


Reducing seasonality in the Group’s operations


Focusing on organic growth and business development


Achieving greater synergies between Group companies


Improving efficiency with special emphasis on continuous cost control


Our building blocks of sustainable shareholder value

Icelandair Group’s strategy can be graphically illustrated in the shape of building blocks, rising in order to show our approach to the Company’s strategic development from the ground up. At the base is the day-to-day focus of our employees on current operations and at the top is our vision for Icelandair Group

The top three building blocks represent our long-term aspirations and corporate conduct. They are the core of our competitive advantage and determine how we structure our operations to leverage our strengths. In essence, they determine our strategic direction and serve as the lens through which we evaluate new projects and strategic initiatives.

The bottom two building blocks represent our short-term focus on profitable operation. They are revised annually and updated to capitalise on emerging short-term and long-term trends. The strategic initiatives are the engine that drives the long-term strategic direction of the Group and the goals provide us with important checkpoints along the way to monitor our progress.


Our vision statement encapsulates our aspirations. It is a powerful tool to rally all our stakeholders in a common future direction. It reflects our ambitions and quantifies our goals of unwavering commitment to connect Iceland.

To unlock Iceland’s potential as a year-round destination, to strengthen Iceland’s position as a connecting hub and to maintain our focus on flexibility and experience

The vision belongs to Icelandair Group as a whole, and all our employees contribute to its realisation. Through our goals and strategic initiatives we translate our aspirations into actions that can be measured and managed throughout the business cycle. The essence of our vision encompasses the focal points of our business concept of leveraging our strengths; to us, these points are much more than mere words on paper.

Year-round tourist destination

Icelandair Group has been at the forefront of devising a long-term strategy for Iceland as world-class destination, and through our investments in Icelandic tourism we have played a leading role in a sustained campaign of development and promotion that benefits not only our own operations but the entire Icelandic travel industry.

Strengthen Iceland as a connecting hub

Steadily expanding Icelandair‘s Route Network, is the Group‘s key to enhancing Iceland’s position as an international connecting hub.

Focus on flexibility and experience

Our unique talent pool remains our primary source of strength, as our employees have proven time and again.

Operating pillars

We depict our vision as a structure resting on three pillars: the growth of Icelandic tourism, the growth of connecting VIA traffic and a combination of flexibility and experience.

Sustainable value creation for our shareholders and other stakeholders lies at the heart of our organisation. The best way for us to succeed in this effort is to maintain our traditional dedication and commitment to connecting Iceland by drawing on the strength of our operating pillars.

Sustainable value creation
Commitment to connect Iceland

tourism growth

Taking a driving seat role in increasing tourism to Iceland across seasons from both existing and new markets


Network growth to strengthen Iceland hub
Maintain short connection time at KEF through operational efficiency

and experience

Enable rapid reactions to disruptive factors: a structure and culture that foster adaptability and nimbleness


Our core values are grounded in the philosophy that guides our internal conduct as well as our external relations with our customers, partners, shareholders and other stakeholders.

We Care

For our customers, employees, environment and shareholders

We Think Clients

Through consistency, reliability, clear product alternatives and friendly service

We Drive Results

Via teamwork, shared information and values, accountability and profitability

Goals and strategic initiatives

What Icelandair Group needs to do in order to survive in its competitive landscape is dictated by financial objectives which are universal and apply in all business operations. These objectives however, do not in themselves suggest business strategies, nor do they provide strategic direction. Through continuous strategic development, Icelandair Group seeks to continue to sustainably grow its profitable operations. We evaluate our effort by comparison with clear-cut short-term and longer-term financial and operational goals that we translate into our EBITDA projection, which is published quarterly.

Goals and selected ongoing strategic initiatives

Continued development with focus on higher quality and customer engagement in our hotel business

Expand and renew logistical infrastructure at our hub in Keflavik

Continue ISO 14001 enviromental standards implementation in all subsidiaries

Focus on corporate governance

Support and develop marketing initiative for more affluent customers

Develop and implement a CSR strategy for the Group

LEAN management initiatives to improve operational efficiencies