Icelandair prospers despite financial crisis and volcano eruption

Icelandair CEO Birkir Holm Gudnason, speaking at the 2016 CAPA Aviation Awards for Excellence in Amsterdam, stated (27-Oct-2016) that "it's never easy in the airline business … because something always happens". He pointed out the financial crisis in Iceland was probably the toughest challenge he has faced and that was followed by a volcano eruption. The financial crisis hit the economy hard but Icelandair was able to weather the storm by transferring more resources to the inbound market, leveraging the devaluation of its local currency. Icelandair has since resumed growth and has been steadily profitable. Icelandair received the 2016 CAPA Regional Airline of the Year Award.