Passenger numbers up in November for Icelandair.

In November 2023, Icelandair transported 282,497 passengers the troubled firm has reported this week, which is a 13% increase on the same month last year. According to the carrier, it saw the largest increase in passengers travelling via Iceland to and from North America, which was up by some 37%. 

Icelandair's load Factor was fairly static at 75.4%  improving by just 1.9 % despite a higher advertising and promotion campaign and the airline's on-time performance was 84.5%.

Bogi Nils Bogason, Icelandair's CEO said:  “In November, we continued seeing an increase in the number of passengers and a stronger load factor compared to last year, on 12% capacity increase. This is despite some negative impact on the booking flow sparked by media reporting on the Reykjanes peninsula seismic activity. Going forward, there is some impact on bookings and revenues for the next few months but looking at the longer term the booking flow is moving towards its former strength.

In 2023, we have transported four million passengers. I am very proud of the Icelandair team and thankful to our loyal passengers for these results and already look forward to the year 2024 where we will continue to use the Company’s strengths and flexibility to address challenges and seize opportunities in our markets.”

https://www.icelandair.com/en-gb/

Icelandair extends network with new destinations and increased frequency

Icelandair introduces its flight schedule for 2024, the most extensive schedule to date. The Company will offer flights to over 50 destinations, with three connection banks within the day. and daily flights to 28 destinations in Europe and North America, with more than one flight a day to 19 destinations thereof. Halifax and Pittsburgh are new destinations in summer 2024 and frequency will be increased to a number of destinations. Increased connectivity will offer 800 different connections and far more through codeshare agreements with other airlines. In 2024, available seat kilometers (ASK) are expected to increase by at least 10% from the previous year.  

Three Boeing 737 MAX 8 aircraft will be added to Icelandair’s fleet in 2024. The Company’s fleet will then consist of 42 aircraft, thereof 21 737 MAX. 

Halifax and Pittsburg new destinations in North America 

Icelandair will for the first time offer flights to Pittsburgh, the Company’s twelfth destination in the United States. With four flights a week, the schedule will be offered from mid-May until the end of October. Pittsburgh is Pennsylvania’s second largest city and lies on the banks of three rivers. The city of three bridges, has long been associated with steel and industry, but it also has cultural charm and a number of beautiful green parks.  

After a few years break, flights to Halifax will restart, with three flights a week from May 31 until mid-October 2024. Halifax is the capital of Nova Scotia, on the east coast of Canada. A vibrant city and a bustling center of trade, commerce and marine industry the city is an intriguing destination, ideal for a relaxing family holiday.  

Bogi Nils Bogason, Icelandair CEO said: “We present an ambitious flight schedule for next summer and the largest in the Company’s history. Our fleet continues to grow and next year we will add three new, efficient, and eco-friendly Boeing 737 MAX’s. We are very pleased to be adding two new destinations in North America and significantly increasing frequency to other destinations. The North American market has been very strong, with Americans now the largest single group of tourists to Iceland. Our experienced team, comprehensive sales infrastructure and strong international brand, together with valuable cooperation agreements with other airlines, allows us to continue moving forward and seizing the opportunities we see in our markets.”  

Passenger numbers rise in October for Icelandair.

                            In October 2023, Icelandair transported 364 thousand passengers, a 9% increase since October last year. Year to date, the Company has transported around 3.7 million passengers, 18% more than in the same period last year.

In October, passengers travelling to Iceland were 152 thousand, from Iceland 53 thousand, via passengers were 136 thousand and passengers travelling within Iceland were 24 thousand. Load factor was 81.5% improving year-on-year by 1.3 percentage points and on-time performance was 80.2%.

Bogi Nils Bogason, Icelandair CEO stated:  “In October, we continue seeing a healthy increase in passenger numbers between years, including a 14% increase in number of TO passengers which depicts our leading position in serving the Icelandic tourism market. We recently announced our largest summer schedule to date, adding two destinations in North America, Pittsburgh and Halifax in 2024, and an increase in capacity of at least 10% next year. We are also proud of the Icelandair team for delivering yet another award, the SPAA (Scottish Passenger Agents’ Association) Airline of the Year award. This is the result of our team’s dedication in providing an outstanding service to our passengers.”

Icelandair to take the Land of 'Fire and Ice' to Boston

A new survey shows that 50% of people who live in the US are now more likely to travel than before the pandemic; seeking adventure and nature

Icelandair, the national airline of Iceland, is hosting an award-winning immersive experience with some of the country's most unique brands including -- Blue Lagoon Iceland, 66 North and others to create an unforgettable experience for visitors. Over the course of the three-day celebration, attendees can experience the unique landscapes and culture through exhibits, giveaways, live music, celebrity photographers, Icelandic food and drink and so much more. With Iceland being just a five-hour flight from Logan Airport, this event's goal is to educate and show off the country's sought-after cuisine, one-of-a-kind experiences, and welcoming culture – from our neighbors who are just 'Around the Corner'. This is an opportunity to "try before you fly" as the land of fire and ice is recreated on the banks of the Charles River.

Exhibits at the event will include:

A real lava demonstration (various times during the 3-day event)

Immersive spa experience in Iceland's wonder of the world

Live music performances from Icelandic bands and DJs

Live performance from renowned Icelandic stand-up comedian, Ari Eldjarn

VR snowmobiling experience in the "snow"

Q&A sessions with famous travel photographers

Family day on Sunday, with a sensory-dampened hour starting at 10:00am

Partners of the event include Icelandia, 66 North, Blue Lagoon Iceland, Reyka Vodka, Iceland Airwaves, and Boeing.

In a recent survey by Icelandair about US consumers' travel habits, 50% revealed that they are more willing to travel now than they were before the pandemic. In addition, three of the most sought-after experiences for travellers were adventure (48% of respondents), to experience something new (41%), and nature (45%). All of which makes Iceland the perfect destination for people in the US to consider. In the same survey, 70% of respondents acknowledged it was hard to find affordable activities to do themselves or with their families. With additional partners of the event including, 66 North, Reyka Vodka, Iceland Airwaves, and Boeing, Around the Corner is the perfect free event to learn about one of the top vacation spots in the world. More results of the survey are listed below.

Bogi Nils, President & CEO of Icelandair Group, said "Iceland is always full of excitement, beauty and adventure! Recently, the world got a glimpse of Iceland's power when the Fagradalsfjall volcano erupted. Now, we are excited to bring some of these awe-inspiring, Icelandic wonders to Boston. During this free, award-winning event, Around the Corner, experience what it is like to see and enjoy a taste of Iceland, including snowmobiling, the Blue Lagoon and hot flowing lava. Iceland really is just around the corner with daily flights, less than 5 hours from Boston on Icelandair. We look forward to sharing a little bit of our home with you and welcoming you aboard."

Grímur Karl Sæmundsen, CEO & Founder, Blue Lagoon Iceland, said "Through our immersive experience, we're thrilled to bring a small piece of the Blue Lagoon to life in Boston. As our wonder of the world is just a 20-minute drive from the international airport in Iceland—and Boston is just a short flight away—we hope Around the Corner inspires Bostonians to visit our beautiful country and we're able to welcome them in person to the Blue Lagoon in the near future."

"We are thrilled to partner with the Icelandair team to bring Iceland directly to Boston," said Björn Ragnarsson, Chief Executive Officer of Icelandia – an organization providing tailor-made vacation packages and top-rated activities in the destination. "With many surprises in store, we are excited to showcase just how many bucket list adventures Iceland offers travellers – from awe-inspiring landmarks to eco-conscious experiences."

Passenger numbers to Iceland increase for Icelandair

Passenger numbers were 8% higher in September this year for Icelandair when compared to the same month last year. The carrier reports 416,072 people flew with the airline last month taking the total number of passengers thus far in the year to 3,375,487 up 19% for the same period 2022.

In September, passengers travelling to Iceland were 174,676, from Iceland, were 49, 018 and the number of passengers using Iceland as a change point was 168,908 down 2% from last year, due to the extra competition and capacity changes.

Bogi Nils Bogason, Icelandair's CEO said:  “We are pleased to see a healthy increase in passenger numbers between years and continued improvement in unit revenue as we close the strong third quarter, the largest quarter in our history in terms of number of flights. I would like to thank our employees for their great work and dedication during the busy summer period. 

We are also proud to have received two awards for our great team’s efforts in offering world-class passenger service. In September, Icelandair was rated a 2024 Five Star Major Airline at the APEX Global EXPO, and this week we received the Danish Travel Awards as Best European Airline. We are grateful to our passengers for their loyalty of continuing to choose Icelandair.”  

The airline scored highly with its most recent on-time performance, up 9.8% from last year to 81% of flights arriving within 15 minutes of scheduled arrival time. OTP is calculated by diving arrivals that arrive within 15 minutes of scheduled arrival time with the total number of arrivals.

.

Icelandair unlocks passenger flexibility with Volantio

Icelandair has launched Volantio’s platform to increase revenue, drive higher efficiency and enable positive customer experiences

Volantio announced that Icelandair has launched its Revenue Rebook platform, which leverages machine learning to drive greater efficiencies for airlines while benefiting passengers.

“I’m very excited to announce the recent launch of Revenue Rebook by Volantio for Icelandair. Our goal with this solution is to efficiently manage inventory, maximize revenue, and offer flexibility to our passengers. Volantio has been an invaluable partner in this journey, providing us with cutting-edge solutions and expertise to streamline our rebooking process. We’re confident that this collaboration will deliver a win-win for our airline and our loyal passengers,” said Matthías Sveinbjörnsson, Director of Revenue Management.

Volantio’s platform, guided by machine learning, identifies high-demand flights, and crafts customized offers to incentivize passengers to switch to lower-demand flights. This enables the airline to more efficiently use its resources while providing valuable benefits to passengers for their travel flexibility. With passenger traffic on airlines expected to increase 5x over the next 20 years, Volantio’s innovative platform provides airlines with a tool to more efficiently use their existing resources, flying more passengers without flying more aircraft.

“We are incredibly proud to launch our platform with Icelandair, one of the oldest airlines in the world with over 85 years of operation,” said Azim Barodawala, Co-Founder and CEO of Volantio. “It is rare to find opportunities where airlines can both improve passenger experience and airline performance, and we are so excited to be able to provide a solution that does both - a true ‘win-win’.”

Gunnar Már Sigurfinnsson resigns as Managing Director of Icelandair Cargo

There is more upheaval at the former national carrier of Iceland,  Icelandair as Gunnar Már Sigurfinnsson has decided to resign as Managing Director of Icelandair Cargo and will also leave Icelandair Group’s Executive Committee. 

It would seem the toxic culture at Icelandair has taken another scalp as Gunnar Már's resignation is with immediate effect but will, according to the company continue to work within Icelandair in the upcoming months and support his successor as needed. 

Einar Már Guðmundsson, Director of Icelandair’s Technical Operations, will become the Interim Managing Director of Icelandair Cargo and become a member of Icelandair Group’s Executive Committee while holding the interim position. A formal process will now be initiated to search for the future Managing Director of the company. 

Einar Már Guðmundsson has worked for Icelandair since 2015 as a Director at the company’s Technical Operations. Previously, Einar Már was the Leader of Procurement at Rio Tinto Alcan (ISAL) for three years and before that he was the Operations Manager of Skeljungur. Einar Már has an MBA degree from Copenhagen Business School and a BS degree in Science of Fisheries from the University of Akureyri. 

Bogi Nils Bogason, President & CEO of Icelandair Group commented:  “Gunnar Már has been an important team member at Icelandair for decades where he has served in various important roles within the Company. He has been part of Icelandair’s Executive Management since 2005 where he served as Chief Commercial Officer for a total of over 5 years. He has then successfully led Icelandair Cargo for 15 years where he played a vital role during the Covid-19 pandemic by seizing opportunities within the cargo business and generating important revenue while Icelandair was facing unprecedented difficulties. On behalf of the Icelandair team, I want to thank Gunnar Már for his invaluable service throughout the years and I look forward to continuing working with him on the important projects that we have ahead of us in the upcoming months.” 

Top level changes at Icelandair....

Icelandair has decided to streamline its organizational structure to facilitate stronger performance. The Customer and Revenue divisions will be combined into a single Commercial division, bringing a holistic approach to commercial topics with continued strong focus on customer experience across the Company.

Tómas Ingason will be responsible for the Commercial division as Chief Commercial Officer. Sylvía Kristín Ólafsdóttir will move from the role of Chief Customer Officer to the role of Chief Operating Officer.  Jens Bjarnason will step down as Icelandair’s Chief Operating Officer. He will continue working at Icelandair as a Senior Advisor and will report directly to the Company’s President & CEO.

Bogi Nils Bogason, CEO Icelandair:   “These changes are a part of our journey to drive performance while we realize our ambitious plans and seize the opportunities we see in our markets going forward. Creating a unified Commercial division will align our commercial activities, both around our core strategy where the customer is always at the center and our continued focus on strong revenue generation. Tómas, who has led commercial functions at Icelandair and within the aviation industry over the past years, will now take on an expanded leadership role. Sylvía brings her broad experience in operations, network management and from leading the Customer division over the past 18 months to her new role. Jens has extensive experience in the aviation industry and from within Icelandair over the past decades. He will support the Chief Operating Officer during the transition period and take on an important role in ensuring the successful implementation of the Airbus aircraft into Icelandair’s operations in the next years, in addition to other strategic projects.”

Tómas Ingason appointed Chief Commercial Officer

As Chief Commercial Officer, Tómas Ingason oversees a team responsible for Icelandair’s global network, revenue management, customer service & engagement strategies, marketing, sales, and partnerships. Tómas has served as Chief Revenue Officer since 2021 and served as Chief Information Officer/Chief Business Development Officer of the Company from 2019-2021. He was Chief Commercial Officer of WOW air in 2018 and Director of Rapid Digitization at Arion Bank between 2016 and 2018. Tómas was Chief Business Development Officer of WOW air in 2014. Prior to that he was Management Consultant at Bain & Company and served as Director of Revenue Management and Pricing at Icelandair for several years. Tómas holds an MBA degree and MSc. degree of Engineering in Logistics and Supply Chain Management from MIT Sloan School of Management in Boston, and a BSc. degree in Industrial Engineering from the University of Iceland.

Sylvía Kristín Ólafsdóttir appointed Chief Operating Officer

As Chief Operating Officer, Sylvia Kristín Ólafsdóttir manages a team overseeing the day-to-day operations on the ground and in the air. That includes Safety and Compliance, Flight and Cabin Operations, Airport Operations, Technical and Maintenance, as well as supporting teams, including Operational Performance and Excellence, and Network Control Center. Sylvia served as Chief Customer Officer at Icelandair since 2022. Prior to that she has served as Managing Director of Business Development and Marketing at Origo. Sylvía first joined Icelandair in 2018 and served as Director of Operations Support and later as Director of Network Planning & Scheduling. She worked at the energy company Landsvirkjun from 2015 as the Head of its Geothermal Department. Prior to that, Sylvía worked for Amazon in Europe for five years, first in operations and planning and then in the company’s Kindle department where she was in charge of business intelligence, marketing and product development. Sylvía holds an M.Sc. degree in operational research from the London School of Economics and a B.Sc. degree in industrial engineering from the University of Iceland. Sylvía is Chairman of the Board of IS Funds Ltd.

Icelandair releases traffic data for July 2023

Icelandair transported 567, 777 passengers in July 2023, a 7% increase compared to July last year. This is the highest number of passengers carried in one month since July 2019, when passengers were around 590 thousand.  

Passengers on international flights were 543 thousand, and thereof 48% were traveling to Iceland, 11% from Iceland, and 41% were via passengers. The load factor was 86.4% on 16% more capacity than in July last year. Demand continued to be particularly strong on North American routes. On-time performance on international flights was 73%, which is a significant improvement over last year but below the Company’s long-term goals. 

Passengers on domestic flights were 24 thousand. The load factor was nearly 70% and on-time performance was 86%, significantly improving from last year by 11 percentage points.  

Freight carried, measured in Freight Ton Kilometers (FTK), increased by 63% between years due to a larger flight schedule and longer flight distances. There was less increase in tons carried, or 17% year-on-year. Sold block hours in the leasing operation decreased by 2%. 

Route Network	Jul 23	Jul 22	CHG (%)	YTD 23	YTD 22	CHG (%)
Number of Passengers	566,777	529,189	7%	2,411,595	1,940,988	24%
Load Factor	86.4%	89.5%	-3.1 ppt	82.7%	78.5%	4.2 ppt
Available Seat KM (ASK´000,000)	2,008.7	1,731.6	16%	8,589.7	7,038.5	22%
Revenue Passenger KM (RPK´000,000)	1,736.2	1,550.6	12%	7,102.1	5,524.6	29%
INTERNATIONAL FLIGHTS	Jul 23	Jul 22	CHG (%)	YTD 23	YTD 22	CHG (%)
To market (passengers)	261,758	230,253	14%	1,005,655	819,141	23%
From market (passengers)	58,037	57,335	1%	367,616	304,582	21%
Via market (passengers)	223,030	216,737	3%	880,769	668,344	32%
Number of Passengers	542,825	504,326	8%	2,254,039	1,792,067	26%
Load Factor	86.5%	89.6%	-3.1 ppt	82.7%	78.5%	4.2 ppt
Available Seat KM (ASK´000,000)	1,998.5	1,721.9	16%	8,529.1	6,984.0	22%
Revenue Passenger KM (RPK´000,000)	1,729.1	1,543.4	12%	7,056.3	5,482.2	29%
Stage length (KM)	3,175	3,073	3%	3,097	3,069	1%
On-Time-Performance (Arrivals)	73.0%	63.5%	9.5 ppt	74.0%	71.7%	2.3 ppt
DOMESTIC FLIGHTS	Jul 23	Jul 22	CHG (%)	YTD 23	YTD 22	CHG (%)
Number of Passengers	23,952	24,863	-4%	157,555	148,921	6%
Load Factor	69.8%	74.5%	-4.7 ppt	75.6%	77.9%	-2.3 ppt
Available Seat KM (ASK´000,000)	10.2	9.7	6%	60.6	54.4	11%
On-Time-Performance (Arrivals)	86%	75%	11.0 ppt	85%	72%	13.0 ppt
Cargo & Leasing	Jul 23	Jul 22	CHG (%)	YTD 23	YTD 22	CHG (%)
Sold Block Hours - Leasing	1,325	1,348	-2%	8,855	8,280	7%
Freight Tonne KM (FTK´000)	15,068	9,249	63%	104,215	78,430	33%
CO2 EMISSIONS	Jul 23	Jul 22	CHG (%)	YTD 23	YTD 22	CHG (%)
Total CO2 emissions tonnes	136,173	122,209	11%	599,174	511,243	17%
CO2 emissions per OTK	0.72	0.72	0%	0.75	0.79	-5%

Contact information

518,527 people flew on Icelandair in June.

In June 2023, the number of passengers travelling with the carrier was 518,527, a 20% increase since June last year. A total of 1.8 million passengers travelled with Icelandair for the first six months of the year, 31% more than at the same time last year.

Passengers on international flights were 493,228 in June, compared to 406,881 in June 2022, an increase of 21%. Thereof, 43% were travelling to Iceland, 13% from Iceland and 44% were via passengers. The load factor was 86% and improved by 2.7 percentage points compared to June last year on 22% more capacity.  Demand was particularly strong on North American routes with a load factor close to 90%, which is the highest it has ever been in the month of June. On-time performance on international flights was 67%, which is below the Company’s goals.  

Passengers on domestic flights were 25,299. The load factor on domestic flights was 78.8% and on-time performance was 91%, significantly improving year-on-year.

Freight, measured in Freight Ton Kilometers increased by 51%, driven by an increase in transit freight following the addition of two wide-body B767-300 freighter aircraft. Sold block hours in the leasing operation increased 5%.

Icelandair saw passenger numbers rise 20% in June.

In June 2023, the number of passengers travelling with the carrier was 518,527, a 20% increase since June last year. A total of 1.8 million passengers travelled with Icelandair for the first six months of the year, 31% more than at the same time last year.

Passengers on international flights were 493,228 in June, compared to 406,881 in June 2022, an increase of 21%. Thereof, 43% were travelling to Iceland, 13% from Iceland and 44% were via passengers. The load factor was 86% and improved by 2.7 percentage points compared to June last year on 22% more capacity.  Demand was particularly strong on North American routes with a load factor close to 90%, which is the highest it has ever been in the month of June. On-time performance on international flights was 67%, which is below the Company’s goals.  

Passengers on domestic flights were 25,299. The load factor on domestic flights was 78.8% and on-time performance was 91%, significantly improving year-on-year.

Freight, measured in Freight Ton Kilometers increased by 51%, driven by an increase in transit freight following the addition of two wide-body B767-300 freighter aircraft. Sold block hours in the leasing operation increased 5%.

Route Network	Jun 23	Jun 22	CHG (%)	YTD 23	YTD 22	CHG (%)
Number of Passengers	518,527	431,408	20%	1,844,818	1,411,799	31%
Load Factor	85.9%	83.2%	2.7 ppt	81.5%	74.9%	6.7 ppt
Available Seat KM (ASK´000,000)	1,866.7	1,524.2	22%	6,581.0	5,306.9	24%
Revenue Passenger KM (RPK´000,000)	1,604.4	1,268.2	27%	5,365.9	3,973.9	35%
INTERNATIONAL FLIGHTS	Jun 23	Jun 22	CHG (%)	YTD 23	YTD 22	CHG (%)
To market (passengers)	210,911	175,847	20%	743,897	588,887	26%
From market (passengers)	63,348	56,965	11%	309,579	247,247	25%
Via market (passengers)	218,969	174,069	26%	657,739	451,607	46%
Number of Passengers	493,228	406,881	21%	1,711,214	1,287,741	33%
Load Factor	86.0%	83.3%	2.7 ppt	81.6%	74.9%	6.7 ppt
Available Seat KM (ASK´000,000)	1,857.5	1,514.7	23%	6,530.6	5,262.1	24%
Revenue Passenger KM (RPK´000,000)	1,597.1	1,261.2	27%	5,327.2	3,938.7	35%
Stage length (KM)	3,195	3,111	3%	3,074	3,068	0%
On-Time-Performance (Arrivals)	67.0%	67.0%	0.0 ppt	75.0%	74.3%	0.7 ppt
DOMESTIC FLIGHTS	Jun 23	Jun 22	CHG (%)	YTD 23	YTD 22	CHG (%)
Number of Passengers	25,299	24,527	3%	133,603	124,058	8%
Load Factor	78.8%	74.3%	4.5 ppt	76.8%	78.6%	-1.8 ppt
Available Seat KM (ASK´000,000)	9.3	9.5	-2%	50.4	44.7	13%
On-Time-Performance (Arrivals)	91%	73%	18.0 ppt	85%	72%	13.0 ppt
Cargo & Leasing	Jun 23	Jun 22	CHG (%)	YTD 23	YTD 22	CHG (%)
Sold Block Hours - Leasing	1,256	1,199	5%	7,530	6,932	9%
Freight Tonne KM (FTK´000)	15,646	10,327	51%	89,147	69,181	29%
CO2 EMISSIONS	Jun 23	Jun 22	CHG (%)	YTD 23	YTD 22	CHG (%)
Total CO2 emissions tonnes	124,790	106,413	17%	463,001	389,034	19%
CO2 emissions per OTK	0.73	0.76	-4%	0.76	0.82	-7%

Cheap flights from London, Manchester, Glasgow & Dublin | Icelandair