Icelandair Group hf. - Supplement to Prospectus


Attached is the Icelandair Group Supplement to a Prospectus dated 7 December 2010. The Company's Prospectus comprises of a Registration Document dated 28 October 2010 and a Securities Note and Summary dated 7 December 2010.

Disclaimer:

Icelandair Group (“the Company”) would like draw attention to the terms and conditions regarding the Company‘s public offering (“the Offering”) which commenced at 10 am on 8 December 2010 and end at 4.00 pm on 23 December 2010. As
stated in the Icelandair Group Securities Note dated 7 December 2010 this public offering is directed to three particular tranches:

  1. Shareholders' in the Company as registered at the end of 17 November 2010 (record date) with the Icelandic Securities Depository, the ex-date being 15 November 2010,
  2. Icelandair Group's and its subsidiaries employees, except Bluebird Cargo ehf. and SmartLynx AOC, as of 31 October 2010,
  3. The general public and legal entities in Iceland.

The offer described in the Securities Note will constitute a public offering pursuant to Article 43 of the Securities Transaction Act No. 108/2007. The share offer will only take place in Iceland.

Among the conditions to participate in this Offering is that a person or legal entity must belong to any of the abovementioned tranches and have an Icelandic ID Number.

Anyone who wishes to subscribe for new shares in the Company in this Offering is advised to familiarize himself/herself thoroughly with the Icelandair Group Prospectus which consists of a Registration Document dated 28 October 2010 and
a Summary and Securities Note dated 7 December 2010.

This disclaimer is in conformity with section 2 of Article 29 of the EU commission regulation No. 809/2004.

Icelandair Group hf. would like to make the following correction. The announcement made public by the Company on 7 December 2010 in Icelandic stated that shares bought after 15 November 2010 would not be allowed to participate
in the Offering. That statement was miswritten. It should have stated that those shares bought on 15 November and thereafter are not allowed to participate in the Offering.

 


Attachments

2010 12 17 Supplement.pdf