Icelandair: record turnover and profit up in Q3

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Icelandair presented its financial results for the third quarter of 2023, showing the highest turnover never recorded for a quarter, at $560.4 millionan increase of 17% compared to the previous year.

She recorded a profit of 85 million dollars, up 26.6 million compared to the previous year, and posted an EBIT of 112.0 million dollars, compared to 92.7 million in the same quarter of the previous year. However, the cargo business had a negative impact on EBIT of $6.7 million.

In the third quarter of 2023, the Icelandic airline transported a total of 1.5 million passengers and noted an increase of 16% in the market to Iceland.

The outlook for our network is good, and the status of reservations throughout the year and for next year is stronger than the previous year at the same period. We see continued strong demand in the tourism market to Iceland, particularly from North America. Our business has experienced rapid growth in recent years which has seen our flight schedule triple over the last two years. We expect moderate growth next year and are therefore considering opportunities to improve operational efficiencies. We will increase our capacity by approximately 10% next year and add frequencies to existing destinations, as well as new and exciting destinations to be announced soon“, commented Bogi Nils Bogason, CEO of Icelandair.

John Walker Avatar