Icelandair Group Logo

Icelandair Group

ISIN: IS0000013464 | Ticker: ICEAI | LEI: 549300UMI5MBLZSXGL15
Sector: IndustrialsSub-Industry: Passenger Airlines
Country: Iceland

About Icelandair Group

Company Description

With Iceland as our hub and home, our core business is built around our international route network and the unique geographical location of the country which makes Iceland the perfect connecting hub between Europe and North America. We serve four markets – to, from, via and within Iceland.

We also operate an airfreight and logistics business through Icelandair Cargo, aircraft leasing and consulting services through subsidiary Loftleidir Icelandic, and tour operator VITA.

Iceland’s unique geographical position provides Icelandair with significant strategic advantages. This is encapsulated in the ability to serve four markets simultaneously, TO, FROM, VIA and Within Iceland. Our aircraft depart to Europe early in the morning and return to Iceland in the afternoon. They depart to North America late afternoon arriving there early evening and return to Iceland at the dawn of the next day, just in time to depart again for Europe.

Year founded

1937

Served area

Worldwide

Headcount

2,393

Headquarters

Reykjavikurflugvelli, 101 Reykjavik – Iceland

Financial statements

Download as Excel
Line item in (usd) 01.01.2020 01.01.2021 01.01.2022 01.01.2023 01.01.2024
Assets N/A 1,034,238,000.00 1,171,559,000.00 1,411,173,000.00 1,527,676,000.00
Noncurrent Assets N/A 752,151,000.00 762,927,000.00 964,925,000.00 1,070,599,000.00
Property Plant And Equipment N/A 498,438,000.00 391,293,000.00 505,588,000.00 555,110,000.00
Investments In Associates Accounted For Using Equity Method N/A 9,603,000.00 11,592,000.00 11,903,000.00 8,395,000.00
Noncurrent Prepayments N/A 3,537,000.00 0.00 N/A N/A
Deferred Tax Assets N/A 38,836,000.00 60,647,000.00 55,593,000.00 59,728,000.00
Current Assets N/A 282,087,000.00 408,632,000.00 446,248,000.00 457,077,000.00
Inventories N/A 23,383,000.00 24,398,000.00 22,491,000.00 23,841,000.00
Trade And Other Current Receivables N/A 99,334,000.00 118,417,000.00 155,317,000.00 161,923,000.00
Cash and cash equivalents 235,073,000.00 117,657,000.00 204,767,000.00 224,252,000.00 199,514,000.00
Current Investments N/A 41,713,000.00 58,197,000.00 42,159,000.00 71,008,000.00
Equity And Liabilities N/A 1,034,238,000.00 1,171,559,000.00 1,411,173,000.00 1,527,676,000.00
Equity 482,478,000.00 232,809,000.00 222,384,000.00 273,386,000.00 288,347,000.00
Issued Capital N/A 212,969,000.00 272,204,000.00 310,973,000.00 310,973,000.00
Retained Earnings N/A 0.00 -105,876,000.00 -57,914,000.00 -44,015,000.00
Share Premium N/A 13,208,000.00 34,178,000.00 0.00 N/A
Other Reserves N/A 8,373,000.00 24,116,000.00 19,450,000.00 20,112,000.00
Equity Attributable To Owners Of Parent N/A 234,550,000.00 224,622,000.00 272,509,000.00 287,070,000.00
Noncontrolling Interests N/A -1,741,000.00 -2,238,000.00 877,000.00 1,277,000.00
Liabilities N/A 801,429,000.00 949,175,000.00 1,137,787,000.00 1,239,329,000.00
Noncurrent Liabilities N/A 400,962,000.00 457,565,000.00 537,903,000.00 593,509,000.00
Noncurrent Payables N/A 17,087,000.00 23,384,000.00 33,947,000.00 53,952,000.00
Longterm Borrowings N/A 239,575,000.00 222,139,000.00 207,264,000.00 207,390,000.00
Current Liabilities N/A 400,467,000.00 491,610,000.00 599,884,000.00 645,820,000.00
Trade And Other Current Payables N/A 141,700,000.00 143,736,000.00 201,789,000.00 222,414,000.00
Current Deferred Income Including Current Contract Liabilities N/A N/A 259,080,000.00 303,359,000.00 317,785,000.00
Current Warrant Liability N/A N/A 18,395,000.00 0.00 N/A
Line item in (usd) 01.01.2020/
01.01.2021
01.01.2021/
01.01.2022
01.01.2022/
01.01.2023
01.01.2023/
01.01.2024
Revenue From Rendering Of Transport Services 265,523,000.00 453,868,000.00 1,130,252,000.00 N/A
Revenue From Rendering Of Passenger Transport Services N/A N/A 1,047,557,000.00 1,289,927,000.00
Revenue From Rendering Of Cargo And Mail Transport Services N/A N/A 90,851,000.00 88,261,000.00
Other Income 103,329,000.00 88,369,000.00 76,356,000.00 74,064,000.00
Employee Benefits Expense 207,892,000.00 215,485,000.00 308,591,000.00 -391,564,000.00
Depreciation And Amortisation Expense 160,343,000.00 113,136,000.00 118,875,000.00 135,477,000.00
Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss 116,158,000.00 0.00 N/A N/A
Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss 116,158,000.00 0.00 N/A N/A
Other Expense By Nature 140,742,000.00 156,779,000.00 248,171,000.00 -339,673,000.00
Profit Loss From Operating Activities -362,995,000.00 -135,939,000.00 18,851,000.00 20,987,000.00
Finance Income 2,735,000.00 13,242,000.00 8,846,000.00 27,308,000.00
Finance Costs 29,579,000.00 20,779,000.00 32,595,000.00 40,962,000.00
Profit Loss Before Tax -437,834,000.00 -130,059,000.00 179,000.00 7,789,000.00
Income Tax Expense Continuing Operations -61,658,000.00 -25,263,000.00 5,998,000.00 -3,380,000.00
Profit (loss) -376,176,000.00 -104,796,000.00 -5,819,000.00 11,169,000.00
Profit Loss Attributable To Owners Of Parent -366,567,000.00 -104,298,000.00 -8,461,000.00 10,726,000.00
Profit Loss Attributable To Noncontrolling Interests -9,609,000.00 -498,000.00 2,642,000.00 443,000.00
Line item in (usd) 01.01.2020 01.01.2021 01.01.2022 01.01.2023 01.01.2024
Profit (loss) N/A -376,176,000.00 -104,796,000.00 -5,819,000.00 11,169,000.00
Adjustments For Income Tax Expense N/A -61,658,000.00 -25,263,000.00 5,998,000.00 -3,380,000.00
Adjustments For Decrease Increase In Inventories N/A -726,000.00 -1,290,000.00 3,020,000.00 -131,000.00
Adjustments For Depreciation And Amortisation Expense N/A 160,343,000.00 113,136,000.00 118,875,000.00 135,477,000.00
Adjustments For Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss N/A 116,158,000.00 0.00 N/A N/A
Adjustments For Fair Value Gains Losses N/A 43,026,000.00 -8,182,000.00 580,000.00 0.00
Adjustments For Undistributed Profits Of Associates N/A -27,423,000.00 -3,848,000.00 1,850,000.00 -925,000.00
Interest Paid Classified As Operating Activities N/A 19,269,000.00 18,214,000.00 24,837,000.00 39,813,000.00
Interest Received Classified As Operating Activities N/A 2,077,000.00 688,000.00 4,428,000.00 18,646,000.00
Cash Flows From Used In Operating Activities N/A -193,219,000.00 50,612,000.00 190,619,000.00 215,121,000.00
Cash Flows From Losing Control Of Subsidiaries Or Other Businesses Classified As Investing Activities N/A 45,312,000.00 6,418,000.00 0.00 4,182,000.00
Proceeds From Sales Of Property Plant And Equipment Classified As Investing Activities N/A 25,726,000.00 197,036,000.00 112,218,000.00 967,000.00
Purchase Of Property Plant And Equipment Classified As Investing Activities N/A 41,790,000.00 170,101,000.00 311,556,000.00 133,849,000.00
Purchase Of Intangible Assets Classified As Investing Activities N/A 730,000.00 293,000.00 422,000.00 634,000.00
Cash Flows From Used In Investing Activities N/A -2,279,000.00 4,630,000.00 -179,041,000.00 -183,703,000.00
Proceeds From Issuing Shares N/A 166,396,000.00 80,205,000.00 52,386,000.00 0.00
Proceeds From Borrowings Classified As Financing Activities N/A 0.00 3,229,000.00 42,002,000.00 63,461,000.00
Repayments Of Borrowings Classified As Financing Activities N/A 21,874,000.00 20,365,000.00 47,799,000.00 70,293,000.00
Payments Of Lease Liabilities Classified As Financing Activities N/A 22,606,000.00 30,255,000.00 37,518,000.00 49,788,000.00
Cash Flows From Used In Financing Activities N/A 79,659,000.00 32,814,000.00 9,071,000.00 -56,620,000.00
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes N/A -115,839,000.00 88,056,000.00 20,649,000.00 -25,202,000.00
Effect Of Exchange Rate Changes On Cash And Cash Equivalents N/A -1,577,000.00 -946,000.00 -1,164,000.00 464,000.00
Increase (decrease) in cash and cash equivalents after effect of exchange rate changes N/A -94,769,000.00 83,238,000.00 56,315,000.00 52,965,000.00
Cash and cash equivalents 235,073,000.00 117,657,000.00 204,767,000.00 224,252,000.00 199,514,000.00

Please note that some sums might not add up.

Filings & Publications

2023

Report
Q1
H1
Q3
FY
Consolidated Report
ENG
Corporate Governance Report
Company Presentation
Sustainability Report
Remuneration Report

2022

Report
Q1
H1
Q3
FY
Consolidated Report
ENG
Corporate Governance Report
Company Presentation
Sustainability Report
Remuneration Report

2021

Report
Q1
H1
Q3
FY
Consolidated Report
ENG
Corporate Governance Report
Company Presentation
Sustainability Report
Remuneration Report

Insider Trades

Sign up and we will give you access!

Capital markets information

ISIN

IS0000013464

LEI

549300UMI5MBLZSXGL15

Sector

Industrials

Industry Group

Transportation

Industry

Passenger Airlines

Sub-Industry

Passenger Airlines

Listed Stock Exchange

Nasdaq Iceland

Stock Index

OMX Iceland All-Share Index

Contact Investor Relations department

Stay up to date

Keep yourself informed with the most recent updates on FinancialReports, IPOs, product advancements, and other significant news.