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Icelandair Group

Icelandair Group
Company nameIcelandair Group hf.
Company typeHlutafélag
IndustryAviation, travel
HeadquartersReykjavík, Iceland
Key peopleBjörgólfur Jóhannsson (President and CEO), Sigurður Helgason (Chairman)
RevenueISK 88.02 billion (2010)
Operating incomeISK 6.254 billion (2010)
Net incomeISK 4.564 billion (2010)
Total assetsISK 84.24 billion (end 2010)
Total equityISK 28.40 billion (end 2010)
Employees2,130 (FTE, average 2010)

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Icelandair Group is an Icelandic travel industry corporation, the owner of the airline Icelandair and numerous other travel industry companies. The group is headquartered at Reykjavík Airport in Reykjavík.

Icelandair Group was initially a subsidiary of Icelandic investment company FL GROUP, but in February 2006, FL GROUP announced plans to list Icelandair Group in the Iceland Stock Exchange and in October 2006 it was announced that the Icelandic bank and investment company Glitnir had reached an agreement to sell 51% in the company on the Iceland Stock Exchange. [ In Early 2007 Icelandair Group was listed on the OMX as ICEAIR.

Icelandair Group is a holding company with 12 service and trade companies in the airline, transportation and tourism industries with focuses on 3 main areas: International Scheduled Airline Operations, Global Capacity Solutions and Aircraft Trading, and Tourism Infrastructure. Total revenue for 2007 was ISK 63.5 billion compared to ISK 56.1 billion in 2006 ISK.[

The international airline, Icelandair, is the largest subsidiary of the group accounting for around half of the turnover in 2007. It links Europe and North America through its hub in Iceland, with scheduled flights to 24 destinations. Last year, Icelandair carried 1,5 million passengers.

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