Business Highlights 2006

• Net profits before taxes (EBT) ISK 3,060 billion in 2006
• EBITDA ISK 6,058 billion in 2006
• Operating profit (EBIT) ISK 3,326 billion, up 28%
• Net earnings ISK 2,615 billion 
• Total revenue ISK 56,1 billion a 23% increase from 2005
• 4Q loss of ISK 555 million
• Icelandair Group listed on ICEX on 14 December
• Icelandair the largest subsidiary with 52% of Icelandair Group’s revenue.
• Equity ratio 34%
• Net operating cash 6,4 milljarðar króna
• Total Assets ISK 76, 6 billion at year end 2006

Jón Karl Ólafsson, CEO of Icelandair Group said: "The results of the Group are very good and exceed expectations considerably.  It is positive, now that the company is listed on the Iceland Stock Exchange and is publicly traded, to be able to present to new shareholders a good profit, in fact the best in the company’s history.  The good results can be attributed to our exceptional employees and the vast knowledge and experience, which we are able to utilize for our benefit.  We expect continuous growth for the Company in the near future. General economic prospects are favorable and growth is expected in the industry.  The outlook is good and we intend to even better in 2007."

2006 Q4 Consolidated Financial Statements for the period from 1 October to 31 December 2006 in a PDF