Icelandair Group — Earnings Release 2024

Dec 6, 2024

Record load factor in November 2024

Network1 Route	Nov 24	Nov 23	Chg (%)	YTD 24	YTD 23	Chg (%)
Number of Passengers:	300,682	282,497	6%	4,353,455	4,022,360	8%
To	101,289	95,322	6%	1,429,909	1,547,568	-8%
From	55,804	51,659	8%	712,599	704,097	1%
Via	124,469	113,537	10%	1,968,686	1,524,853	29%
Within	19,120	21,979	-13%	242,260	245,842	-1%
ASK (million)	1,116	1,113	0.2%	16,001	14,573	10%
RPK (million)	919	839	10%	13,225	11,977	10%
Load Factor	82.4%	75.4%	7.0 ppt	82.7%	82.2%	0.5 ppt
OTP (Arrivals)	84.7%	84.5%	0.2 ppt	84.3%	77.9%	6.4 ppt
Stage length (KM)	3,040	2,939	3%	2,998	2,933	2%
Cargo & Leasing
Sold BH - Leasing	2,486	1,322	88%	18,991	14,028	35%
(thousand) FTK - cargo	14,350	15,045	-5%	127,554	163,422	-22%
CO2 Emissions
CO2 Total tons	76,534	78,381	-2%	1,087,070	1,043,217	4%
CO2 per OTK	0.70	0.82	-15%	0.73	0.75	-3%

Passenger traffic (RPK) +10%

Capacity (ASK) +0.2%

Load Factor 82.4%

Glossary

Icelandair route network serves four passenger markets¹ :

To Passenger visiting Iceland

From

Passengers originating in Iceland visiting destinations outside of Iceland

Via

Passengers traveling across the Atlantic connecting in Iceland

Within

Passengers traveling solely within Iceland

ASK

Available seat kilometers, the total number of seats available on scheduled flights multiplied by the number of kilometers the seats were flown

RPK

2

Revenue passenger kilometers, the number of revenue passengers carried on scheduled flights multiplied by the number of kilometers the seats were flown

LF

Passenger load factor, calculated by dividing RPK by ASK

OTP

Arrival on time performance, flights arriving within 15 minutes of scheduled arrival time. OTP is calculated by diving arrivals that arrive within 15 minutes of scheduled arrival time with the total number of arrivals

Stage length

The distance flown from takeoff to landing in a single leg

BH

Block hours - the time computed from the moment the blocks are removed from the wheels of the aircraft until they are replaced at the next point of landing

FTK

Freight Tonne Kilometers – the equivalent of RPK for freight – one FTK is one metric tonne of revenue load, carried one kilometer

OTK

CO2 emitted by moving one payload tonne one kilometer for all international flights

Total CO2 tons Carbon emissions from all flights

² Passengers are from 2024 split between markets by point of commencement, compared to point of sale in the past, 2023 comparison figures have been updated