Icelandair Group — Earnings Release 2014

Dec 8, 2014

Traffic Data November 2014

Traffic Data November 2014

The Company carried 161 thousand passengers on international flights in
November. The number of passengers was up by 12% as compared to November last
year. The capacity increase totalled 10% between years. The passenger load
factor was 76.9% compared to 74.0% at the same time last year. The number of
passengers on the Trans-Atlantic market increased the most or by 21.9%.

Passengers on regional flights and Greenland flights were 21 thousand in
November, which is 1% decrease from November last year. The load factor was
72.5%, increasing by 1.1 percentage points from last year. Sold block hours in
charter flights decreased by 20% between years. Cargo transport was the same
year-on-year. The room utilization at our Hotels was 71.0%, compared to 65.5%
in November last year.

INTERNATIONAL FLIGHTS NOV 14 NOV 13 CHG (%) YTD 14 YTD 13 CHG (%)

Number of Passengers 161,024 143,326 12% 2,446,302 2,116,680 16%
Load Factor 76.9% 74.0% 2.9 ppt 80.5% 79.5% 1.0 ppt
Available Seat KM 636.3 576.1 10% 9,067.0 7,772.8 17%
(ASK´000,000)
REGIONAL AND NOV 14 NOV 13 CHG (%) YTD 14 YTD 13 CHG (%)
GREENLAND FLIGHTS

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Number of Passengers 21,235 21,423 -1% 274,508 287,557 -5%
Load Factor 72.5% 71.4% 1.1 ppt 71.8% 71.5% 0.3 ppt
Available Seat KM 9.1 9.2 -1% 138.9 145.0 -4%
(ASK´000,000)
CHARTER FLIGHTS NOV 14 NOV 13 CHG (%) YTD 14 YTD 13 CHG (%)

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Fleet Utilization 85.7% 90.0% -4.3 ppt 94.8% 91.0% 3.8 ppt
Sold Block Hours 1,676 2,096 -20% 19,344 25,871 -25%
CARGO NOV 14 NOV 13 CHG (%) YTD 14 YTD 13 CHG (%)

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Available Tonne KM 15,096 15,168 0% 201,933 187,590 8%
(ATK´000)
Freight Tonne KM 8,049 8,057 0% 89,613 86,663 3%
(FTK´000)
HOTELS NOV 14 NOV 13 CHG (%) YTD 14 YTD 13 CHG (%)

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Available Hotel Room 22,170 22,200 0% 293,864 291,663 1%
Nights
Sold Hotel Room 15,731 14,549 8% 226,748 211,839 7%
Nights
Utilization of Hotel 71.0% 65.5% 5.4 ppt 77.2% 72.6% 4.5 ppt
Rooms

For further detailed information please contact:

Bogi Nils Bogason, CFO, Icelandair Group tel: + 354 665-8801
Íris Hulda Þórisdóttir, Director Investor Relations, Icelandair Group tel: +
354 840-7010

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