Icelandair Group hf.: Covid-19 effects

Reykjavík, ICELAND

The expansion of the COVID-19 virus is increasingly affecting demand for international travel. Icelandair Group  is monitoring the situation closely and continues to analyze possible scenarios and mitigating actions as the situation evolves. Due to further decline in demand and bookings in recent days Icelandair is currently reviewing its flight capacity for March and April and further capacity reductions, in addition to what was announced last Friday, are to be expected. Icelandair currently has around 3,500 flights scheduled in March and April. Changes in the flight schedule will be made public as soon as the review is finalized. These measures are taken to mitigate the risk and financial impact on the Company.

Icelandair Group will continue to monitor the situation and is working closely with all relevant authorities and follows their guidance to ensure the health and wellbeing of its customers and employees.

Under these circumstances, the importance of the flexibility of the route network and strong liquidity position are evident.

Further information:
Investors: Íris Hulda Þórisdóttir, Director Investor Relations,
Media: Ásdís Ýr Pétursdóttir, Director Communications,