Icelandair: 1Q2015 results to beat guidance

Icelandair announced (24-Apr-2015) its 1Q2015 financial results "will be better than forecast at the beginning of the year", due to "increased sales and better utilisation." Icelandair stated: "EBITDA will be negative in the range of USD2-4 million. The load factor on international flights was 4.9 percentage points higher than in Q12014 and utilisation of hotel rooms was 7.8 percentage points higher. On the other hand EUR/USD has been more unfavourable than expected." Icelandair added: "Better results in Q1 leads to an unchanged forecast for the full year, despite unfavourable development in currency rates. We anticipate that EBITDA will be in the range of USD160-165 million. The results are very sensitive to external factors such as currency and fuel price fluctuations and uncertainty in the labour market in Iceland can have significant impact on the results." The carrier will publish its 1Q2015 results on 29-Apr-2015. [more - original PR]