Icelandair says the decision of the Competition Appeals Committee constitutes serious criticism of the decision of the Competition Authority Icelandair disagrees with the conclusion of the Competition Appeals Committee, but is satisfied with the partial victory that the fine imposed earlier by the Competition Authority was reduced by 30%, to ISK 130 million. Furthermore, the decision of the Competition Appeals Committee is based on different premises than those used by the Competition Authority, and this is seen by Icelandair as reflecting serious criticism of the decision of the Competition Authority. Icelandair is now considering whether to refer the decision of the Competition Appeals Committee to the courts of law. In the opinion of Icelandair, the company complied with competition law and the ruling of the Competition Appeals Committee of 2003, which confirmed Icelandair's right to advertise and sell its Internet discount fares, Netsmellir in the manner that this was done. This decision provided Icelandair with guidance, which the company observed in its pricing in 2004. Decisions to the contrary now, three years later, are unacceptable. Icelandair is the only Icelandic airline operator engaging in scheduled international flights between Iceland and other countries. The competition in passenger flights to and from Iceland is fierce, however, and Icelandair reserves its right to participate actively in this competition for the benefit of consumers - in line with the objectives of the Competition Act concerning active competition. Apart from Icelandair, the current participants in the market are the Swiss airline Hello, the British airline Astreus and the Danish airline Sterling, flying under the name of Iceland Express, the Scandinavian airline SAS and the British airline British Airways. In addition, numerous foreign airlines operate chartered flights from Iceland for domestic travel agencies.