Icelandair: record profit and revenue in Q2

Avatar photo

Icelandair made a profit of $13.7 million in the second quarter of 2023, compared to $3.8 million in the second quarter of last year.

The Icelandic airline recorded a record revenue of $414.2 million, up 26% year-on-year. She carried 1.2 million passengers19% more than in the second quarter of last year.

The achievement of a profit of $13.7 million is due to record passenger revenue, a historically high load factor and improved yields in all our markets. Lower fuel costs due to the efficiency of the Boeing 737 MAX aircraft and lower fuel prices also contributed positively to results. In addition, our leasing business continued to record very good performance and strong profitability.“, commented Bogi Nils Bogason, the president of Icelandair.

During the first half of 2023, Icelandair opened five new destinations, introduced six new aircraft, carried 1.8 million passengers and recruited and trained nearly 1,200 employees. The outlook for the second half of the year remains favorable with continued strong bookings, particularly from North America.

Demand for flights to and from Iceland has been strong over the past few months. Capacity at Keflavik airport has also risen sharply to 20% more than pre-Covid levels this summer and more next winter.

John Walker Avatar