Operationally, Icelandair Group had a successful July. According to unaudited
financial accounts EBITDA was ISK 3.0 billion, which is an improvement of ISK
0.3 billion over July 2008. EBITDA for the Icelandic subsidiaries was ISK 1.1
billion, an improvement of 57% compared to July 2008, which is mostly due to
strong improvement of Icelandair. The operations of Travel Service in the
Czech Republic were good, but negative oil hedges resulted in a reduction of
profit compared to the same period of last year. The restructuring of
SmartLynx is still underway and it‘s results were lower than in July of last
year.
Icelandair Group‘s EBITDA forecast for 2009 remains ISK 6.5 billion.
Considering present presumptions the operations of the Group look good for the
remainder of the year, and thus EBITDA will be higher than projected in the
Group‘s inital budget for the year.
Attached is Icelandair Group Traffic Data. In the future this information will
be published every month.
Further information provided by:
Bogi Nils Bogason, CFO of Icelandair Group, tel; 354-665-8801
