Icelandair Group — Earnings Release 2016

Feb 8, 2016

Traffic Data January 2016

Traffic Data January 2016

The number of passenger on international flights was 173 thousand in January
and increased by 15% compared to January last year. The capacity increase was
19% and the passenger load factor was 74.2% compared to 76.7% in January last
year. The load factor in 2015 was very favourable with every month being a
record. A load factor increase in each month as between 2014 and 2015 is not
expected in 2016. The load factor in January 2016 is the second highest load
factor until now.

The number of passengers on regional and Greenland flights amounted to 20
thousand, increasing by 4% compared to January last year. The capacity in
January was 1% higher than in January last year. The passenger load factor was
69.9% and increased by 2.5 percentage points compared to January 2015. Sold
block hours in charter flights increased by 29% in January. Freight increased
by 11% year-on-year. The number of available room nights at the Company’s
Hotels was up by 6% from last year. The room utilization was 60.7%, 6.4
percentage points lower than in January 2015.

INTERNATIONAL FLIGHTS JAN 16 JAN 15 CHG (%)

Number of Passengers 173,549 150,316 15%
Load Factor 74.2% 76.7% -2.5 ppt
Available Seat KM (ASK´000,000) 701.0 590.3 19%

REGIONAL AND GREENLAND FLIGHTS JAN 16 JAN 15 CHG (%)

Number of Passengers 20,385 19,637 4%
Load Factor 69.9% 67.4% 2.5 ppt
Available Seat KM (ASK´000,000) 9.1 9.1 1%

CHARTER FLIGHTS JAN 16 JAN 15 CHG (%)

Fleet Utilization 100.0% 87.5% 12.5 ppt
Sold Block Hours 2,148 1,668 29%

CARGO JAN 16 JAN 15 CHG (%)

Available Tonne KM (ATK´000) 17,298 15,043 15%
Freight Tonne KM (FTK´000) 8,630 7,755 11%

HOTELS JAN 16 JAN 15 CHG (%)

Available Hotel Room Nights 24,335 22,909 6%
Sold Hotel Room Nights 14,782 15,391 -4%
Utilization of Hotel Rooms 60.7% 67.2% -6.4 ppt

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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