Passenger revenue of US$199 million in Q1 represented a 17% rise on last year: a record report for the airline.
President & CEO Bogi Nils Bogason said the Q1 results "were in line with our expectations," adding that performance in January was hampered by media coverage of the volcanic activity across Southwest Iceland.
"The year 2023 marked the final year of Icelandair’s post-Covid recovery and a return to profitability. Now, the focus is on actions that will improve operational efficiencies, reduce costs, and further strengthen revenue generation."
Greater focus on the most profitable markets for the airline saw its passenger network capacity grow by 21%, with around 757,000 travelling in Q1 (14% up on 2023).
