Icelandair posts best quarterly revenue ever

Tuesday, 22 Oct, 2023 0

Icelandair just enjoyed its best quarter ever for revenue, with a $84.5 million airline profit in Q3.

It is up by $26.6 million year-on-year.

Total revenue was $560.4 million, the highest single quarter figure in its history and up 17% on last year.

The airline carried a total of 1.5 million passengers.

The carrier says it still has a strong liquidity position of $423.7 million.

“We are pleased to deliver such strong results in our largest and most important quarter,” said CEO, Bogi Nils Bogason.

“Airline profits were driven by strong revenue generation in our passenger network resulting in the strongest quarterly revenue in history.”

Icelandair improved on-time performance and the flight schedule was also the largest ever in terms of the number of flight segments.

It carried 1.5 million passengers to 49 destinations in Europe and North America.

The airline recruited around 1,000 new employees for the high season, bringing the total workforce number to around 4,400 during the summer.

“The outlook is good and the booking status throughout the year and into next year is stronger than at the same time last year.”

The airline sees continued strong inbound demand to Iceland, especially from North America.

It expects ‘moderate growth’ next year and plans to increase capacity by around 10%.

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TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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