Icelandair Group 2Q2009 revenue up 17%

Icelandair Group revenue up 17% - financial highlights:

• Three months ended 30-Jun-2009:
  • Revenue: EUR187.4 million, +17% year-on-year;
  • Operating costs: EUR180.4 million, -19.7%;
    • Fuel: EUR38.1 million, +4.8%;
    • Labour: EUR34.8 million, +0.6%;
    • Aircraft and aircrew lease: EUR33.4 million, +62.9%;
  • EBITDA: EUR7.2 million, -31.6%;
  • EBIT (loss): (EUR200,222), compared to a profit of EUR5.0 million in the previous corresponding period;
  • Profit (loss) after tax: (EUR7.2 million), compared to a profit of EUR2.2 million in the previous corresponding period;
  • Net profit (loss): (EUR7.5 million), compared to a profit of EUR2.2 million in the previous corresponding period;
• Six months ended 30-Jun-2009:
  • Revenue: EUR303.1 million, +27%;
  • Operating costs: 308.4 million, +32.1%;
    • Labour: EUR64.8 million, +3.8%;
    • Fuel:EUR59.5 million, +16.8%;
    • Aircraft and aircrew lease: EUR60.6 million, +74.7%;
  • EBITDA (loss): (EUR5.6 million), compared to a profit of EUR5.6 million in the previous corresponding period;
  • EBIT (loss): (EUR19.5 million), compared to a loss of EUR4.4 million in the previous corresponding period;
  • Profit (loss) after tax: (EUR27.8 million), compared to a loss of EUR7.2 million in the previous corresponding period;
• *Based on the conversion rate at EUR1 = ISK179.80. [more]