Stock Exchange Releases 2019

31.12.2019

Agreement signed with the Icelandic Aircraft Mechanics Association (FVFI)

Icelandair ehf. and the Icelandic Aircraft Mechanics Association (FVFI) have renewed their current collective-bargaining agreement until 31 December 2020. The salary increases in the collective-bargaining agreement are in line with other agreements made between labor unions and employer federations in 2019 (Icelandic: Lífskjarasamningar). FVFI will now present the collective-bargaining agreemen ...

30.12.2019

Icelandair enters into a secured USD 30 million loan agreement

Icelandair has entered into a secured USD 30 million loan agreement with CIT Bank which is part of a refinancing due to the redemption of bonds, issued by the Company, earlier this year. The maturity date of the loan will be based on a 5-year term. For further information, please contact: Eva Sóley Guðbjörnsdóttir, CFO Telephone: +354 5050300 E-mail:  ...

20.12.2019

The sale of Icelandair Hotels

 Refinancing of Icelandair Hotels completedCompletion of the sale to Berjaya in final stagesExpected cash flow to Icelandair Group amount to USD 84 million On 13 July Icelandair Group signed a share purchase agreement (the “Agreement”) with a subsidiary company of Berjaya Land Berhad (“Berjaya”), whereby Berjaya ...

17.12.2019

Icelandair Group does not expect Boeing 737 MAX back into service until May 2020

Icelandair has updated its flight schedule as it does not expect the Boeing 737 MAX back into service until May 2020. This decision has minimum impact on passengers and on Icelandair’s flight schedule for this period. Due to the MAX suspension, Icelandair will keep more Boeing 757s in operation in 2020 than originally planned. In addition, the Company has entered into a leasing agreement regard ...

06.12.2019

Traffic Data November 2019

On-Time Performance in the Icelandair’s route network in November improved significantly, increasing to 90.0% from 75.7% from the same period last year. This was achieved as a result of a number of measures taken to improve On-Time Performance despite the impact of the suspension of Boeing 737 MAX on the flight schedule. The number of passengers to Iceland increased by 16% compared to N ...

05.12.2019

Icelandair enters into a secured USD 35 million loan agreement

Icelandair has entered into a secured USD 35 million loan agreement with CIT Bank which is part of a refinancing due to the redemption of bonds issued by the Company earlier this year. The maturity date of the loan will be based on a 5-year term. For further information, please contact: Eva Sóley Guðbjörnsdóttir, CFO Telephone: +354 5050300 E-mail: ...

28.11.2019

Continued focus on the tourist market in Iceland

Icelandair has finalised its flight schedule for 2020. The schedule includes 40 destinations and one new destination to Europe is expected to be announced in the next few weeks. The total seat capacity is estimated 5.1 million seats and the total number of passengers is estimated to reach 4.2 million next year. In 2020, the Company will continue its current focus of increasing the numbe ...

06.11.2019

Traffic data October 2019

The load factor on Icelandair’s flights was 85.3% in October compared to 80.9% in the same period last year. The total number of Icelandair’s passengers was 341 thousand in October, decreasing by 3% compared with October last year. The total capacity decreased by 13% between years. The number of passengers to Iceland increased by 16% compared to October last year. This year, the number ...

01.11.2019

Presentation of Q3 2019 financial results

Attached is the presentation of Q3 2019 financial results. Attachment ...

31.10.2019

Continued Operational Improvements – Q3 Net Profit USD 61 Million

Operational improvements with EBIT amounting to USD 81.1 million in the quarter, up by USD 2.8 million despite the suspension of the MAX aircraft.Total revenue amounted to USD 533.9 million in the quarter, down by 2%.Flexibility of the route network resulted in 27% more passengers travelling to Iceland in the quarter.Equity ratio at the end of September was 30%, ...

27.10.2019

EBIT guidance for the full year 2019 revised upwards

The current prospects for Icelandair Group‘s operations for the year 2019 are more favourable than anticipated when last EBIT guidance was issued. Based on current assumptions, the Company is projecting its EBIT to be in the range of negative USD 35-55 million for 2019, including the estimated net impact quantified to date of the suspension of the Boeing 737 MAX aircraft. Although ...

06.09.2019

Traffic Data August

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