Icelandair Group EBIT up 6% in 3Q2012, maintains USD115m full-year EBITDA guidance

Icelandair Group revenue up 8% - financial highlights for three months ended 30-Sep-2012:

• Total revenue: USD317.4 million, +8% year-on-year;
  • Transport: USD228.9 million, +12%;
  • Aircraft and aircrew lease: USD31.1 million, -8%;
• Total costs: USD239.4 million, +8%;
  • Fuel: USD73.6 million, +16%;
  • Labour: USD54.5 million, +12%;
• EBIT: USD61.1 million, +6%;
• EBT: USD64.8 million, +20%;
• Net profit: USD51.4 million, +17%;
• Passenger numbers:
  • Regional and Greenland: 100,500, -4%;
  • International: 744,800, +11%;
• Load factor:
  • Regional and Greenland: 68.9%, -2.3 ppts;
  • International: 84.0%, +0.7 ppt;
• Total assets: USD794.7 million, +9% when compared to period ended 31-Dec-2011;
• Cash and marketable securities: USD167.7 million, +57.2% when compared to period ended 31-Dec-2011. [more - original PR]

Icelandair Group: "The third-quarter performance was in line with projections, and the forecast for the year remains unchanged, with EBITDA at USD 110-115 million," Björgólfur Jóhannsson, president and CEO. Source: Company statement, 31-Oct-2012.

Icelandair Group: "The prospects for Icelandair Group's operations are favourable. Continued organic growth is projected next year, with the international flight schedule 15% larger than the current schedule. The booking status for the coming months is strong and in line with the growth plan. The number of passengers flying with the Company between North America and Europe has been growing steadily in recent years; it is assumed that this trend will continue. As before, however, the main focus will be on strengthening the tourist market to Iceland." Source: Company statement, 31-Oct-2012.