newstodate.aero
Oct 17, 2008 (newstodate): The Icelandair Group seems to perform quite satisfactorily despite the general upheaval in the country's economy.
For the first eight months of 2008, the company's total turnover is ISK 72 billion, up 68 percent, y-o-y, and EBITDA is also up 43 percent.
-In light of circumstances that have occurred in the Icelandic financial markets we emphasize the diversity of the Group. Icelandair Group is an international Group of 12 companies with worldwide operations. Revenue is generated from different geographic areas and service sectors, and only 25 percent of the Group's revenue are in Icelandic kronas, says the Board in press release due to extraordinary circumstances in the financial market in Iceland.
-Icelandair, the largest company within Icelandair Group, now benefits from drastic cutback arrangements executed in the route network earlier in the year due to less demand and increasing oil prices. Capacity was decreased by 15 percent and operational costs lowered.
For the first eight months of 2008, the company's total turnover is ISK 72 billion, up 68 percent, y-o-y, and EBITDA is also up 43 percent.
-In light of circumstances that have occurred in the Icelandic financial markets we emphasize the diversity of the Group. Icelandair Group is an international Group of 12 companies with worldwide operations. Revenue is generated from different geographic areas and service sectors, and only 25 percent of the Group's revenue are in Icelandic kronas, says the Board in press release due to extraordinary circumstances in the financial market in Iceland.
-Icelandair, the largest company within Icelandair Group, now benefits from drastic cutback arrangements executed in the route network earlier in the year due to less demand and increasing oil prices. Capacity was decreased by 15 percent and operational costs lowered.