Icelandair projects favourable second half of year

Icelandair described conditions for the second half of 2023 as “favourable” as the airline recorded its highest second quarter profit since 2016.

Profit for the past three months of $13.7 million was up from $3.8 million in the equivalent period in 2022.

The airline flew 19% more passengers year-on-year at 1.2 million with a load factor of 83.6% with “especially strong demand” on transatlantic routes.

Forward bookings for the remaining six months of the year are strong and above last year, according to the carrier.

The result came despite additional aircraft having to be drafted in to cover an expended schedule due to delays in maintenance projects on the exists fleet. This led to one-off costs that negatively impacted the quarterly results. 

President and chief executive Bogi Nils Bogason labelled the first half of 2023 as “eventful” as Icelandair prepared for its largest flight schedule in terms of destinations and flight frequency.

“We introduced five new destinations, implemented six new aircraft, carried 1.8 million passes hers and recruited and trained more than 1,200 employees [in the first six months],” he added,

“The prospects for the second half of the year remain favourable with continued strong bookings, particularly from North America. Demand for flights to and from Iceland has been strong over the past months.

“Capacity through Keflavik airport has also increased sharply by 20% above pre-Covid levels this summer and even more into next winter.”