Results of Icelandair Group in the second quarter of 2009
• Improved performance for Icelandair ehf. compared to the corresponding
period of last year
• Icelandair Group‘s total turnover was ISK 33.7 billion, increasing by 17%
from the preceding year
• EBITDA was ISK 1.3 billion, as compared to ISK 1.9 billion in the
corresponding period of last year
• EBIT was negative by ISK 36 million, as compared to a positive figure of
ISK 0.9 billion for the same period last year
• Net financial costs amounted to ISK 1.5 billion, as compared to ISK 0.4
billion in the preceding year
• The Company's loss after taxes was ISK 1.3 billion, as compared to a profit
of ISK 0.4 billion at the same time last year
Icelandair Group results in the first six months of 2009
• Results better than anticipated in spite of the challenging operating
environment
• The Company‘s total turnover was ISK 54.5 billion, up by 27% from the
preceding year
• EBITDA was negative by ISK 1.0 billion, as compared to a positive result of
ISK 1.0 billion in the corresponding period of last year
• EBIT was negative by ISK 3.5 billion, as compared to a negative result of
ISK 0.8 billion for the same period of last year
• The results of foreign subsidiaries before taxes fell ISK 3.8 billion short
of the results for the same period of last year
• Net financial cost amounted to ISK 2.1 million, as compared to ISK 0.7
billion in the corresponding period of last year
• Losses after taxes came to ISK 5.0 billion, as compared to ISK 1.3 billion
over the corresponding period of last year
• Cash at the end of the period amounted to ISK 6.2 billion, as compared to
ISK 6.3 billion at the same time last year
• The equity ratio was 17.8 % at the end of June 2009, down from 20.3% at the
end of 2008
• Assets amounted to ISK 105.9 billion at the end of June 2009, as compared
to ISK 98.8 billion at year-end 2008
CEO's, Björgólfur Jóhannsson comment along with the pressrelease is attached
