• Icelandair Group's profits for the first 9 months of 2006 were 3.939 billion ISK
• EBITDA was 5,7 billion ISK for the first 9 months of 2006
• EBIT was 3,8 billion ISK, an improvement of 1 billion ISK from last year
• Total turnover in the first 9 months was 43,5 billion, a 23% increase from 2005
  

Icelandair Group was a part of the FL Group in the first 9 months of the year, but an initial public offering and preparation for the registration on the Icelandic Stock Exchange on December 6 is now in progress. Twelve companies form the Icelandair Group. They are Icelandair, Icelandair Cargo, Icelandair Ground Services, Icelandair Technical Services, Loftleidir Icelandic, Bluebird Cargo, Icelease, Air Iceland, Icelandair Hotels, Iceland Tours and Fjarvakur Financial Services.

Jón Karl Ólafsson, Icelandair Group CEO, says: "This performance is one of the best in the history of the company, we have gone through some major changes in the structure of the Group in recent months and years and comparisons with past performances are based on adding together the companies that now form the present Icelandair Group. This comparison shows healthy growth and good profits in most companies within the Group and the performance is in line with our targets. I am particularly pleased with the turnaround and good results of Icelandair Hotels and Iceland Tours, two tourism companies that have been reorganized in 2005 and 2006. The 9 month result of Icelandair, the largest company in the Group, is good despite a 2 billion ISK higher fuel bill than last year. Icelandair's market position is strong and booking outlook is good. We expect to reach our targets for 2006."