Icelandair Group revenue up 29.4% in September quarter; EUR21.5 million profit

Icelandair Group revenue up 29.4% - financial highlights for the three months ended Sep-2009:

• Revenue: EUR291.6 million, +29.4% year-on-year;
• Operating costs: EUR245.7 million, +28.1%;
• Fuel: +14.9%;
• EBIT (loss): EUR37.4 million, +34.6%;
• Net profit (loss): EUR21.5 million, compared to a net profit of EUR23.8 million in the previous corresponding period. [more]

*Based on the conversion rate at EUR1 = ISK183.948

Icelandair Group: "Icelandair Group's core business in the third quarter was successful, and improvements between years are evident in all the income statement ratios, with the exception of depreciation and financial items. This year is probably the toughest our industry has experienced, and our foreign subsidiaries' operations show that clearly, where we see less demand and lower prices having negative effect on the bottom line," Source: Company statement, 30-Nov-2009.