Group insists that “organic growth will continue”
Icelandair Group insists that “organic growth will continue” despite losses after tax for the first quarter of $18.3 million (€13.9 million), a rise from the $13.2 million seen for the same period the previous year. The airline’s management said that “performance in the quarter exceeded projections”. Passenger revenues increased by 24% year-on-year, total revenues by 10%.
“Icelandair Group’s performance over the quarter was better than our budget projected and estimates of continued growth materialised,” Björgólfur Jóhannsson, the group’s president and CEO, said. “Capacity on international flights increased by just short of a quarter in the first three months of the year and the increase in passenger numbers over the same period was 18%. The greatest increase was in the number of passengers on the North Atlantic market, about 40%. The number of passengers in the tourist market to Iceland also increased significantly from last year, with a positive impact for all tourist services in Iceland.”