31-Oct-2013 1:51 PM

Icelandair Group EBIT up 34% in 3Q2013, forecast USD140-145m EBITDA in 2013

Icelandair Group revenue up 17% - financial highlights for three months ended 30-Sep-2013:

  • Total revenue: USD371.7 million, +17% year-on-year;
    • Passenger: USD254.1 million, +16%;
    • Cargo and mail: USD10.3 million, +8%;
    • Aircraft and aircrew lease: USD28.8 million, -7%;
  • Total costs: USD269.4 million, +13%;
    • Fuel: USD80.7 million, +10%;
    • Labour: USD62.0 million, +14%;
  • EBIT: USD82.2 million, +34%;
  • Net profit: USD65.3 million, +27%;
  • Passenger numbers:
    • International: 821,800, +10%;
    • Regional and Greenland: 90,400, -11%;
  • Load factor:
    • International: 83.7%, -0.3 ppt;
    • Regional and Greenland: 73.1%, +4.1 ppts;
  • Cargo traffic (FTKs): +10%;
  • Total assets: USD877.5 million;
  • Cash and marketable securities: USD218.3 million;
  • Total liabilities: USD525.3 million;
  • 2013 forecast:

Icelandair Group: “The Group's booking position in the fourth quarter is favourable and indicates that the growth will be strongest in the North Atlantic market, although the tourist market to Iceland is also expected to grow. The Company is expected to show continued profitable organic growth in 2014. The international flight schedule will be the most extensive in the Company's history, 18% larger than in 2013. The Company expects to transport 2.6 million passengers, which represents an increase of 350 thousand passengers from 2013. The plans for continued profitable growth will have a positive impact on all tourist services in Iceland.” Source: Company statement, 30-Oct-2013.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More