Company Release Company Announcement 772113

2010-07-12 17:10:15

Icelandair Group hf. Company Announcement -Traffic Data June 2010 Attached is the Icelandair Group Traffic Data for June 2010. For further information contact: Bogi Nils Bogason, CFO Icelandair Group, tel: 354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=410340&messageId=494926 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=312819 Company Release Company Announcement 770871

2010-06-30 12:01:29

Icelandair Group hf. Company Announcement Icelandair adds 200 flights to winter schedule Icelandair's schedule this winter will increase in scope by 14% over last winter. Icelandair will fly to a total of 15 destinations east and west of the Atlantic. An average of 82 flights will depart from Iceland every week in the period from November through March, 10 more than last winter. Over the five-month period of November, December, January, February and March, the number of flights will be increased by a total of 200. The company will fly to 11 cities in Europe and four cities in North America. The principal change from last winter is that the number of flights to European cities, including Paris, Frankfurt, Amsterdam and Copenhagen, will be increased, as well as to Seattle, New York and Orlando in the United States. In addition, flights to Helsinki will be continued until after the turn of the year, two months longer than in recent years. Finally, there will be flights to Munich in Germany from the end of January until March, which is the first time that the company flies to Munich at this time of year. Also, the number of flights to various destinations will be increased both this autumn and next spring, i.e. in October and April/May, in an attempt to extend the tourist season. “In spite of the severe fluctuations in our operating environment the prospects appear quite promising, and we are increasing our capacity significantly between years,” says Icelandair CEO Birkir Hólm Gudnason. “When the economic collapse and the plunge of the króna in 2008 virtually ended Icelanders' overseas travels we immediately shifted our focus and managed to increase the proportion of foreign travellers in our aircraft to bridge the gap. However, the volcanic eruption caused a severe temporary dent in bookings. However the North Atlantic market remained strong. Now we are seeing increases from last winter in both Icelanders' bookings for travels abroad and bookings to Iceland this fall are picking up following the Inspired by Iceland campaign. This flexibility of Icelandair, and our ability to adapt quickly to fluctuations enables us to add to our capacity at this time,” says Gudnason. This winter Icelandair will fly to the capitals of the Scandinavian countries, Copenhagen, Oslo, Stockholm and Helsinki, to London, Manchester and Glasgow in the U.K., and to Amsterdam, Frankfurt, Paris and Munich in continental Europe. U.S. destinations are Boston, New York, Orlando and Seattle. This summer Icelandair will also fly to Stavanger, Bergen, Trondheim, Helsinki, Brussels, Berlin, Düsseldorf, Munich, Barcelona, Madrid, Milan, Halifax, Toronto and Minneapolis. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=409023&messageId=493191 Company Release Company Announcement 769375

2010-06-15 18:31:18

Icelandair Group hf. Company Announcement The Pension Fund of Commerce invests ISK 1 billion in Icelandair Group The Pension Fund of Commerce (PCF) today entered into a binding agreement with Icelandair Group hf. on investing ISK 1 billion in the Group in return for a 12% share in the Company. PCF will subscribe to new shares in the nominal amount of ISK 400 million at a price of 2.5, for a total of ISK 1 billion. The agreement follows in the wake of an agreement with FSI announced yesterday on the acquisition by FSI of ISK 3 billion in shares in Icelandair Group. Both transactions will take place at the same price. The agreement with PCF was concluded with the normal reservations regarding the results of due diligence. With the new agreement Icelandair has obtained a total of ISK 4 billion in cash through the sale of new shares in the space of two days. In addition, the Group's largest creditors have undertaken to convert debts in the amount of ISK 3.6 billion into shares based on a share price of ISK 5, which corresponds to a subscription to 720 million new shares. The financial restructuring of the Company will reduce its debt by over ISK 10 billion through the transfer and sale of certain assets which formerly formed a part of the company's core business, as announced in a notice to the Stock Exchange last 25 March. There are plans to invite investors and the public to inject new share capital into the Company in share offers to be held later this year. Björgólfur Jóhannsson, CEO of Icelandair Group “I am extremely pleased with PCF's investment in Icelandair Group. In two days we have managed to broaden the Company's investor base significantly, as the vast majority of Icelandic wage-earners have a stake in PFC and FSI through their pension savings. PCF's investment will increase the Company's strength still further and enhance its ability to boost still further the position of the Icelandic tourist industry, one of the country's most important economic sectors.“ For further information, please contact: Björgólfur Jóhannsson CEO, Icelandair Group, tel. +354-896-1455 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=407340&messageId=490893 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=310505 Company Release Company Announcement 769215

2010-06-14 17:47:57

Icelandair Group hf. Company Announcement - The Enterprise Investment Fund invests ISK 3 billion in Icelandair Group The Enterprise Investment Fund (Framtakssjodur Islands, FSI), an investment company owned by 16 Icelandic pension funds, today entered into a binding agreement with Icelandair Group hf. on an ISK 3 billion investment in the Group. The agreement was concluded with normal reservations regarding the results of due diligence, which the Fund will perform. FSI will subscribe to ISK 1.2 billion in new shares at the price of 2.5, for a total of ISK 3 billion. Under the agreement, Icelandair Group undertakes to increase the company's stock by ISK 1 billion in new shares, to be sold at the same price before 31 July of this year; on the whole, the plan is to sell shares for a total of ISK 5 billion. The agreement between the two parties assumes the conversion by Icelandair Group's largest creditors of debt in the amount of ISK 3.6 billion into shares based on a share price of 5 krónur per share, which corresponds to a subscription to 720 million new shares. The total increase in share capital will thus amount to ISK 8.6 billion based on the selling price. The financial restructuring of the company will reduce the company's debt by over ISK 10 billion through the transfer and sale of certain assets which formerly formed a part of the company's core business, as announced in a notice to the Stock Exchange last 25 March. None of the Company's debt will be written off. The day-to-day operation of the Company has been successful in recent months, but high financial expenses and large short-term debt have had a negative impact on the Company's position. Since late 2008, Icelandair Group has been working closely with Íslandsbanki and other creditors on financial restructuring, and this agreement represents an important step forward in the direction of securing the Company's financial position. Íslandsbanki's Corporate Finance served as an advisor in the sale. There are plans to invite investors and the public to inject new share capital into the Company in share offers to be held later this year. Björgólfur Jóhannsson, CEO of Icelandair Group “The financial restructuring of Icelandair Group is now in its final stages. Our agreement with FSI is an extremely important element, as the Fund will serve as a strong backer for the company in the future. We will be taking further steps to strengthen and broaden our investor base, and we are currently preparing an offer of shares to other professional investors and the general public later this year. The agreement with FSI will substantially strengthen our liquidity position, and our agreements with the Company's banks will reinforce our balance sheet still further. I am confident that our co-operation with FSI will strengthen Icelandair Group and create new opportunities for advances in the tourist sector.” For further information, please contact: Björgólfur Jóhannsson CEO, Icelandair Group, tel. +354-896-1455 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=407183&messageId=490689 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=310370 Company Release Company Announcement 768536

2010-06-08 18:49:15

Icelandair Group hf. Company Announcement - Traffic Data May 2010 Attached is the Icelandair Group Traffic Data for May 2010 For further information contact: Bogi Nils Bogason, CFO,Icelandair Group, tel: 354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=406572&messageId=489891 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=309913 Company Release Minutes of extraordinary general meeting 766678

2010-05-25 11:25:40

Icelandair Group hf. Decisions of extraordinary general meeting Annual General Meeting 2010 The following proposals were approved by the Icelandair Group Annual General Meeting 21 May 2010: a) Annual Accounts (Item 2) The Board of Directors proposes to the Annual General Meeting that the Annual Accounts of the company for 2009 will be approved. b) No dividends payments (Item 3) The Board of Directors proposes to the Annual General Meeting that no dividends will be paid in respect of profits for the year 2009. c) Purchase of treasury shares (Item 4) The Board of Directors proposes to the Annual General Meeting that the company will be authorized to purchase up to 10% treasury shares, with reference to Article 55 in Act No. 2/1995. The shares' purchase price may be up to 20% above the average sales price of shares on the Stock Exchange in the two weeks immediately preceding the purchase. d) Remuneration to Board Members (Item 5) The Board of Directors proposes to the Annual General Meeting that remuneration to Board Members will be as follows: Each Board Member will receive ISK 160,000 per month, the Chairman of the Board of Directors will receive ISK 320,000 per month and Alternate Board Members will receive ISK 80,000 for each meeting attended. e) KPMG to be auditors (Item 7) The Board of Directors proposes to the Annual General Meeting that KPMG hf. will be the company's auditors. f) Remuneration Policy (Item 8) The Board of Directors proposes to the Annual General Meeting that the attached Remuneration Policy will be approved. g) New Articles of Association (Item 9) The Board of Directors proposes to the Annual General Meeting that the attached Articles of Association will be approved. In an election to the Board of Directors of Icelandair Group the following were elected: Board members Finnur Reyr Stefánsson, id. 141069-3659 Jón Ármann Guðjónsson, id. 060468-3039 Katrín Olga Jóhannesdóttir, id. 010862-7369 Pétur J Eiríksson, id. 050550-7969 Sigurður Helgason, id. 010546-2069 Alternate board members Kristín Einarsdóttir, id. 110149-4179 Magnús Magnússon, id.160965-4799 Tómas Kristjánsson, id. 151165-3389 The Board of Directors has met and appointed Sigurdur Helgason Chairman of the Board and Finnur Reyr Stefánsson, Vice Chairman of the Board. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=403301&messageId=485871 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=308102 Company Release Notice to convene extr.general meeting 765650

2010-05-17 11:51:49

Icelandair Group hf. Notice to convene extr.general meeting -Candidates for the Board of Directors Following are the candidates for the Board of Directors of Icelandair Group at the shareholders meeting to be held on Friday 21 May at 4 pm at the Hilton Reykjavík Nordica. Board members Finnur Reyr Stefánsson, id. 141069-3659 Friðrik Á Brekkan, id. 210451-5959 Jón Ármann Guðjónsson, id. 060468-3039 Katrín Olga Jóhannesdóttir, id. 010862-7369 Pétur J Eiríksson, id. 050550-7969 Sigurður Helgason, id. 010546-2069 Alternate board members Kristín Einarsdóttir, id. 110149-4179 Magnús Magnússon, id.160965-4799 Tómas Kristjánsson, id. 151165-3389 The shareholders meeting shall elect 5 board members and 3 alternate members. Alternate board members of Icelandair Group have therfore been chosen without election. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=402392&messageId=484653 Company Release Notice to convene extr.general meeting 765498

2010-05-14 15:04:28

Icelandair Group hf. Notice to convene extr.general meeting - Annual General Meeting 21 May 2010 The Annual General Meeting of Icelandair Group hf. will be held Friday 21 May 2010 at 16:00 at the Hilton Reykjavik Nordica. Agenda 1. Report of the Board of Directors on the activities of the company in 2009 2. The Annual Accounts of the company for 2009, including Auditors Report, submitted for confirmation 3. Disposal of the profit of the Company during the fiscal year, incl. dividends 4. Authorization to company to purchase treasury shares 5. Remuneration of the Board of Directors 6. Election of Board of Directors 7. Election of auditing firm 8. Remuneration policy 9. New Articles of Association 10. Any other lawfully submitted business Proposals a) Annual Accounts (Item 2) The Board of Directors proposes to the Annual General Meeting that the Annual Accounts of the company for 2009 will be approved. b) No dividends payments (Item 3) The Board of Directors proposes to the Annual General Meeting that no dividends will be paid in respect of profits for the year 2009. c) Purchase of treasury shares (Item 4) The Board of Directors proposes to the Annual General Meeting that the company will be authorized to purchase up to 10% treasury shares, with reference to Article 55 in Act No. 2/1995. The shares' purchase price may be up to 20% above the average sales price of shares on the Stock Exchange in the two weeks immediately preceding the purchase. d) Remuneration to Board Members (Item 5) The Board of Directors proposes to the Annual General Meeting that remuneration to Board Members will be as follows: Each Board Member will receive ISK 160,000 per month, the Chairman of the Board of Directors will receive ISK 320,000 per month and Alternate Board Members will receive ISK 80,000 for each meeting attended. e) KPMG to be auditors (Item 7) The Board of Directors proposes to the Annual General Meeting that KPMG hf. will be the company's auditors. f) Remuneration Policy (Item 8) The Board of Directors proposes to the Annual General Meeting that the attached Remuneration Policy will be approved. g) New Articles of Association (Item 9) The Board of Directors proposes to the Annual General Meeting that the attached Articles of Association will be approved. Rules on Shareholders Participation and Voting Shareholders have the right to put items on the agenda, submit draft resolutions and ask questions, in writing or by electronic means, until the final agenda and proposals are issued on 14 May 2010. Each share in the Company carries one vote, excluding Treasury Shares that do not carry voting rights. Shareholders attending the Annual General Meeting in person will be registered at the entrance and will then receive their ballots and other relevant documents. Shareholders, who do not attend the Annual General Meeting in person, can either: a) vote on items on the agenda in writing or by electronic means, or b) grant a proxy. A shareholder's request to vote in writing or by electronic means must be received by the Company no later than 5 days prior to the Annual General Meeting. Votes must be received by the Company prior to the Annual General Meeting. Shareholders can also cast their votes at the Company's headquarters in person prior to the Annual General Meeting on weekdays during normal business hours. Shareholders can either grant written or electronic proxies, subject to certain formalities. Electronic proxies must be submitted through the Company's shareholder portal. Proxies must be received by the Company prior to the Annual General Meeting or at the entrance of the meeting. Further information is available at the Company's website: www.icelandairgroup.is. Other Information The Annual General Meeting will be conducted in Icelandic. The documents to be submitted to the Annual General Meeting, including the audited Consolidated Financial Statements for 2009 and the Annual Report for 2009, as well as draft resolutions and comments on each item on the agenda are available in English at the Company's website: www.icelandairgroup.is. The documents are also available to shareholders at the Company's headquarters at Reykjavik airport, Iceland, on weekdays during normal business hours. Shareholders are however advised that according to Article 63 a. of the Icelandic Companies Act No. 2/1995, written notices on candidature to the Board of Directors can be made until 5 days before the Annual General Meeting. Thus, information on all candidates to the Board of Directors will be made available to the shareholders no later than 2 days before the Annual General Meeting. Further information on the Annual General Meeting can be found on the Company's website: www.icelandairgroup.is The Board of Directors of Icelandair Group hf. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=402221&messageId=484440 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=307130 Company Release Company Announcement 765167

2010-05-11 21:49:30

Icelandair Group hf. Company Announcement CORRECTION: - Traffic Data April 2010 Attached is the Icelandair Group Traffic Data for April 2010. Corr: The passenger number change between years at Icelandair is -11% not -17% as reported in the previous announcement. For further information contact: Bogi Nils Bogason, CFO,Icelandair Group, tel: 354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=401867&messageId=483964 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=306876 Company Release Company Announcement 765144

2010-05-11 16:28:24

Icelandair Group hf. Company Announcement - Traffic Data April 2010 Attached is the Icelandair Group Traffic Data for April 2010. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=401835&messageId=483918 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=306840 Company Release Annual Financial Statement 764110

2010-05-05 16:33:55

Icelandair Group hf. Financial Statement Release - First Quarter Results First quarter performance + The total turnover was ISK 16.3 billion, up by 16% from the corresponding quarter of the preceding year + EBITDA was ISK 178 million, as compared to ISK 58 million at the same time last year + EBIT was negative by ISK 1.2 billion, as compared to a negative result of ISK 1.1 billion at the same time last year. Depreciation was ISK 1.3 billion, as compared to ISK 1.1 billion in the corresponding period of last year + Financial expenses amounted to ISK 736 million, as compared to ISK 555 million at the same time last year + Losses after taxes came to ISK 1.9 billion, as compared to ISK 3.6 billion over the corresponding period of last year. Loss from continuing operations amounted ISK 1.5 billion over the period + Net cash at the end of the first quarter of 2010 was ISK 4.1 billion, as compared to ISK 1.9 billion in the preceding year + Total assets amounted to ISK 93.6 billion at the end of the first quarter of 2010,and the equity ratio was 14% For further information, please contact: Björgólfur Jóhannsson CEO, Icelandair Group, tel. +354-896-1455 Bogi Nils Bogason, CFO, Icelandair Group, tel. +354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=400686&messageId=482487 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=305943 Company Release Annual Financial Statement 763362

2010-04-30 19:45:17

Icelandair Group hf. Financial Statement Release - Presentation of Q4 and annual results 2009 Attached is the presentation of Q4 and annual results 2009. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=399884&messageId=481463 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=305272 Company Release Notice to convene extr.general meeting 763346

2010-04-30 17:28:32

Icelandair Group hf. Notice to convene extr.general meeting - Annual General Meeting 21 May 2010 The Annual General Meeting of Icelandair Group hf. will be held Friday 21 May 2010 at 16:00 at the Hilton Reykjavik Nordica. Agenda 1. Report of the Board of Directors on the activities of the company in 2009 2. The Annual Accounts of the company for 2009, including Auditors Report, submitted for confirmation 3. Disposal of the profit of the Company during the fiscal year, incl. dividends 4. Authorization to company to purchase treasury shares 5. Remuneration of the Board of Directors 6. Election of Board of Directors 7. Election of auditing firm 8. Remuneration policy 9. New Articles of Association 10. Any other lawfully submitted business Proposals a) Annual Accounts (Item 2) The Board of Directors proposes to the Annual General Meeting that the Annual Accounts of the company for 2009 will be approved. b) No dividends payments (Item 3) The Board of Directors proposes to the Annual General Meeting that no dividends will be paid in respect of profits for the year 2009. c) Purchase of treasury shares (Item 4) The Board of Directors proposes to the Annual General Meeting that the company will be authorized to purchase up to 10% treasury shares, with reference to Article 55 in Act No. 2/1995. The shares' purchase price may be up to 20% above the average sales price of shares on the Stock Exchange in the two weeks immediately preceding the purchase. d) Remuneration to Board Members (Item 5) The Board of Directors proposes to the Annual General Meeting that remuneration to Board Members will be as follows: Each Board Member will receive ISK 160,000 per month, the Chairman of the Board of Directors will receive ISK 320,000 per month and Alternate Board Members will receive ISK 80,000 for each meeting attended. e) KPMG to be auditors (Item 7) The Board of Directors proposes to the Annual General Meeting that KPMG hf. will be the company's auditors. f) Remuneration Policy (Item 8) The Board of Directors proposes to the Annual General Meeting that the attached Remuneration Policy will be approved. g) New Articles of Association (Item 9) The Board of Directors proposes to the Annual General Meeting that the attached Articles of Association will be approved. Rules on Shareholders Participation and Voting Shareholders have the right to put items on the agenda, submit draft resolutions and ask questions, in writing or by electronic means, until the final agenda and proposals are issued on 14 May 2010. Each share in the Company carries one vote, excluding Treasury Shares that do not carry voting rights. Shareholders attending the Annual General Meeting in person will be registered at the entrance and will then receive their ballots and other relevant documents. Shareholders, who do not attend the Annual General Meeting in person, can either: a) vote on items on the agenda in writing or by electronic means, or b) grant a proxy. A shareholder's request to vote in writing or by electronic means must be received by the Company no later than 5 days prior to the Annual General Meeting. Votes must be received by the Company prior to the Annual General Meeting. Shareholders can also cast their votes at the Company's headquarters in person prior to the Annual General Meeting on weekdays during normal business hours. Shareholders can either grant written or electronic proxies, subject to certain formalities. Electronic proxies must be submitted through the Company's shareholder portal. Proxies must be received by the Company prior to the Annual General Meeting or at the entrance of the meeting. Further information is available at the Company's website: www.icelandairgroup.is. Other Information The Annual General Meeting will be conducted in Icelandic. The documents to be submitted to the Annual General Meeting, including the audited Consolidated Financial Statements for 2009 and the Annual Report for 2009, as well as draft resolutions and comments on each item on the agenda are available in English at the Company's website: www.icelandairgroup.is. The documents are also available to shareholders at the Company's headquarters at Reykjavik airport, Iceland, on weekdays during normal business hours. Shareholders are however advised that according to Article 63 a. of the Icelandic Companies Act No. 2/1995, written notices on candidature to the Board of Directors can be made until 5 days before the Annual General Meeting. Thus, information on all candidates to the Board of Directors will be made available to the shareholders no later than 2 days before the Annual General Meeting. Further information on the Annual General Meeting can be found on the Company's website: www.icelandairgroup.is The Board of Directors of Icelandair Group hf. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=399854&messageId=481424 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=305255 Company Release Annual Financial Statement 763322

2010-04-30 16:48:48

Icelandair Group hf. Financial Statement Release - Interim financial report for the fourth quarter of 2009 and for 2009 Results in the fourth quarter of 2009 + Total turnover was ISK 18.2 billion, increasing by 4% in the corresponding period of last year. + EBITDA was negative by ISK 219 million, as compared to a negative result of ISK 894 million in the corresponding period of last year. + EBIT was negative by ISK 2.4 billion, as compared to a negative result of ISK 8.7 billion at the same time last year. Depreciation amounted to ISK 2.7 billion, down by ISK 5.1 billion from the preceding year. + Financial expenses amounted to ISK 2.9 billion, as compared to ISK 630 million in the preceding year. + Losses after taxes came to ISK 9.6 billion, as compared to ISK 10.6 billion over the corresponding period of last year. Results in 2009 + Total turnover was ISK 80.3 billion, increasing by 11% between years. + EBITDA was ISK 8.1 billion, as compared to ISK 3.1 billion in the previous year. + EBIT was negative by ISK 1.5 billion, as compared to a negative result of ISK 7.4 billion in the previous year. Depreciation amounted to ISK 6.7 billion, down by ISK 3.7 billion from the preceding year. + Financial costs amounted to ISK 6.0 billion, as compared to ISK 1.9 billion in the preceding year. + Losses after taxes came to ISK 10.7 billion, as compared to ISK 7.5 billion in the year before. + Cash at the end of the year amounted to ISK 1.9 billion, as compared to ISK 4.1 billion for the at the same time last year. + Total assets amounted to ISK 89.1 billion at year-end 2009 and the equity ratio was 16.4% at the end of 2009, as compared to 20.1% at the end of 2008. CEO Björgólfur Jóhannsson: “ It is evident that 2009 was a challenging year in international aviation. However, the operations of Icelandair and Air Iceland were profitable and both companies are reporting their best annual results in years. In addition, Lofleidir, Bluebird and Iceland Travel reported a net profit in 2009. I want to use this opportunity to thank our employees for their dedication and professionalism which is the driving force of these good results. The Group‘s loss of ISK 10.7 billion mainly stem from parent company guarantees for SmartLynx from 2007, losses from oil hedges of Travel Service and due to excessive leverage of the parent company dating back to 2006. Financial expenses in 2009 amounted to ISK 6 billion, increasing by over ISK 4 billion from 2008. The biggest contributing factor was an ISK 2 billion loss on forward contracts relating to currency hedging in 2009; conversely, 2008 returned an ISK 1.4 billion profit from forward contracts. Interest expenses increased by ISK 0.5 billion from 2008, amounting to a total of ISK 4.2 billion in 2009. Icelandair Group's foreign investments have caused great difficulties for the Group. In 2009, ISK 4.2 billion were expensed as a result of operating losses and written-off receivables and intangible assets of the Latvian airline SmartLynx. In addition, expensed items relating to the Czech airline Travel Service amounted to approximately ISK 1.9 billion. Of this figure, losses on fuel hedging amounted to ISK one billion, and ISK 900 million resulted from the sale of a share in the company under its book value. Neither company forms a part of Icelandair Group's core business, and the board of directors of the company has therefore resolved to sell both companies. The business model has been simplified in significant respects, and the company's focus will be on services to travellers and on the operation of an international air route network. The changes will strengthen the position of Icelandair Group as an operating company in international travel services. The board of directors of the company has resolved to discontinue the Company‘s definition of itself as an investment company, as evidenced by the board's decision to sell the Group's holdings in SmartLynx, Bluebird and Travel Service. The financial restructuring of the company is in its final stages. It has been clear for a long time that Icelandair Group is excessively leveraged and its interest burden is too heavy. It is important that the restructuring of the Company's balance sheet, which was in progress throughout 2009, should be brought to a conclusion so that the Company's operations can support the service and payment of its debts. It is my belief that following the restructuring, Icelandair Group will be in a good position to move forward with its operation of an international route network and universal services to travellers.” Presentation meeting on Friday 30 April 2010. An open presentation for stakeholders will be held on Friday, 30 April, at Icelandair Group's headquarters, 3d floor, by Hotel Loftleidir at Reykjavik Airport. Björgólfur Jóhannsson, Icelandair Group CEO, will present the Company's results and respond to questions, together with the senior management. The presentation will begin at 16:30. For further information, please contact: Björgólfur Jóhannsson CEO, Icelandair Group, tel. +354-896-1455 Bogi Nils Bogason, CFO, Icelandair Group, tel. +354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=399833&messageId=481389 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=305225 Company Release Financial Calendar 762680

2010-04-28 18:09:44

Icelandair Group hf. Financial Calendar - Publishing of fourth quarter and annual results 2009 Icelandair Group will publish its fourth quarter and annual results 2009, on Friday 30 April 2009. A presentation will be held at Icelandair Group headoffice, 3rd floor Hotel Loftleidir at Reykjavik Airport Friday 30 April at 16:30. Björgólfur Jóhannsson, CEO will present the results along with the Group management. Icelandair Group will publish its first quarter 2010 results in week 18. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=399220&messageId=480572 Company Release Company Announcement 760534

2010-04-19 11:56:33

Icelandair Group hf. Company Announcement Effects of Eruption and Volcanic Ash on Icelandair Group Over the course of the last days, the employees of Icelandair Group have worked diligently to minimize the effects of the volcanic eruption in Eyjafjallajokull on the Group‘s operations. The eruption and the volcanic ash have affected most companies within the Group, in particular the operations of Icelandair, Icelandair Cargo and Bluebird. In addition, some disruptions have been in the operations of Iceland Travel and Vita. Icelandair Group estimates that the Group‘s total daily loss amounts to ISK 100 million due to flight disruptions and other complications. Despite closures of European airspace Icelandair has added new flights to its schedule when possible. Over the weekend Icelandair flew to Norway and Scotland and scheduled flights from Iceland to Finland and Sweden commenced this morning. Furthermore, several cargo flights have been operated between Iceland and Europe since the eruption started. According to the latest weather information Keflavik airport will remain open throughout the week. No disruption has been in Icelandair‘s scheduled flights to the USA and Icelandair will continue to operate flights from Europe to the USA over the course of the week. Icelandair Group prides itself on offering best possible services to its customers. The company wants to extend its gratitude to its clients which have shown understanding of the inconvenience that this situation has caused. For further information, please contact: Björgólfur Jóhannsson, CEO, tel.+354- 896 -1455 Bogi Nils Bogason, CFO, tel.+354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=397020&messageId=477620 Company Release Financial Calendar 760369

2010-04-16 15:34:16

Icelandair Group hf. Financial Calendar Publishing of Q4 and Annual Results 2009 postponed Icelandair Group Q4 and annual results 2009 will be published in week 17 2010 instead of week 15 2010 as previously stated. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=396826&messageId=477364 Company Release Company Announcement 760056

2010-04-15 13:34:42

Icelandair Group hf. Company Announcement -Valuation of Icelandair Group hf. Post Restructuring In an announcement from Icelandair Group hf. dated 25 March 2010, it was stated that the Company and its largest lenders, Íslandsbanki and Glitnir Bank hf., had reached an agreement on the final arrangements of the financial restructuring of Icelandair Group. Among other things, the restructuring will call for the involvement of other lenders in addition to leasing companies owning aircraft used by Icelandair Group subsidiaries in their operations. Approval from a shareholders' meeting of the Group is required for certain aspects of the reorganisation, in addition to the final approval of lenders. In relation to a closed share offering, Icelandair Group retained DVB Bank to prepare a valuation of the Company. DVB Bank has been a consultant both to the Icelandic banks and Icelandair Group in the restructuring process and has been involved in the process since mid 2009. The valuation from DVB Bank is based on five year financial projections prepared by the management of Icelandair Group. Loftleidir was valued separately from other aspects of the business. Loftleidir was valued only on a DCF analysis basis, while other aspects of the business was valued based on a DCF and a peer analysis. This valuation does not and is not intended to represent the value of shares in the Company which is currently traded on the Icelandic Stock Exchange, and should not be relied upon by investors. The underlying assumptions for this valuation are based on the financials of the Company after financial restructuring, which significantly differs from the status of the Company which is currently being traded. The valuation range is based on the average of these valuation methods and values the equity of Icelandair Group hf. on the range from ISK 16.4 Bn to ISK 25.6 Bn A summary of the valuation is attached. For further information, please contact: Björgólfur Jóhannsson, CEO, tel.+354- 896-1455 Bogi Nils Bogason, CFO, tel.+354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=396520&messageId=476950 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=302148 Company Release Company Announcement 759316

2010-04-09 18:37:59

Icelandair Group hf. Company Announcement Traffic Data March Attached is the Icelandair Group traffic data for March 2010. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=395783&messageId=476001 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=301531 Company Release Financial Calendar 755636

2010-03-26 18:43:30

Icelandair Group hf. Financial Calendar Publishing of Q4 and Annual Results 2009 postponed As stated in an announcement from Icelandair Group, 25 March 2010 the publishing of Q4 and annual results 2009 has been postponed until week 15 2010 and the annual general meeting will be held in May 2010. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=393344&messageId=472898 Company Release Company Announcement 755419

2010-03-26 10:15:10

Icelandair Group hf. Company Announcement CORRECTION: Icelandair Group restructuring in final stages Correction: In the fourth line of the fifth paragraph 8.1 million was miswritten and has been changed to 8.1 billions, and in the attachment accordingly. Icelandair Group hf. and its largest lenders, Íslandsbanki and Glitnir Bank hf., have reached an agreement on how it is foreseen to finalize the financial restructuring of Icelandair Group. Among other things, the restructuring will call for the involvement of other creditors in addition to lessors of aircraft used by Icelandair Group subsidiaries in their operations. Approval from a shareholders' meeting of the Group will be needed for certain aspects of the restructuring, in addition to the final approval of creditors. None of the Group's debts will be written off. The day-to-day operation of the Group has been successful in recent months, but high financial expenses and large short-term debts have had a negative impact on the Group's position. Icelandair Group's management has been working closely with lenders in recent months on the financial restructuring of the Company with a view to strengthening its foundations. Icelandair Group has also been advised by a foreign bank having special expertise in the field of air carrier operations. If the restructuring goes through as planned, the understanding is that domestic creditors will convert loans in the amount of approximately ISK 4.8 billion into shares. In addition, debts in the amount of ISK 7.7 billion, together with assets in a corresponding amount, will be transferred to a separate holding company to be owned by Icelandic creditors. Remaining in Icelandair Group will be assets pertaining to what the board of directors has defined as core operations. These are Icelandair, Air Iceland, Iceland Travel (Vita), Icelandair Cargo, Icelandair Hotels, Icelandair Ground Services, Loftleidir-Icelandic and Fjárvakur, in addition to the Latvian air charter company SmartLynx, which is scheduled for divestment from the Group this year. Finally, there are plans to invite investors and the public to come with new share capital into the Company in share offerings to be held later this year, which will be launched in two stages. The first stage will take the form of a restricted tender procedure to a limited group of professional investors. This would be followed by a public offering to achieve the aim of Icelandair Group, Íslandsbanki and Glitnir of securing involvement in the Company by a broad group of investors, both professional and private. Icelandair Group has entrusted the supervision of both offers to Íslandsbanki's Corporate and Investment Banking. According to a preliminary income statement, the total turnover of the Company in 2009 amounted to ISK 80.3 billion from current operations. Of this figure, core operations accounted for ISK 75.2 billion. Earnings before financial items, taxes and depreciation (EBITDA) amounted to ISK 8.1, billion, of which core operations accounted for ISK 7.3 billion. With the impact of the financial restructuring of the Company, the projected turnover for 2010 will amount to ISK 78.2 billion from core operations and EBITDA is projected at ISK 7.6 billion. Enclosed as attachment is a draft of the Icelandair Group Balance Sheet as at 31 December 2009 (left column) with an illustration of the impact of the proposed financial restructuring on the Balance Sheet (right column), excluding the effects of the proposed share offerings. Björgólfur Jóhannsson, President and CEO: “The financial restructuring of Icelandair Group will strengthen the Company's liquidity and equity position significantly and leave the Group better placed to deal with seasonal fluctuations in its business operations and reinforce organic growth. By selling off the assets which do not pertain to core operations, the Company has simplified its business model, and the restructured Balance Sheet places the Company in a position to return favourable operating results and meet its obligations. Icelandair Group is in the process of withdrawing from its role as an investment company to become an operating company specialising in universal tourist and air travel services." Owing to the restructuring process, Icelandair has decided to postpone the publication of its annual financial report until Week 15, and the Company's Annual General Meeting has been scheduled for May. For further information, please contact: Björgólfur Jóhannsson,President and CEO, tel.+354- 896 -1455 Bogi Nils Bogason, CEO, tel.+354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=393142&messageId=472614 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=299125 Company Release Company Announcement 755262

2010-03-25 18:05:46

Icelandair Group hf. Company Announcement Icelandair Group restructuring in final stages Icelandair Group hf. and its largest lenders, Íslandsbanki and Glitnir Bank hf., have reached an agreement on how it is foreseen to finalize the financial restructuring of Icelandair Group. Among other things, the restructuring will call for the involvement of other creditors in addition to lessors of aircraft used by Icelandair Group subsidiaries in their operations. Approval from a shareholders' meeting of the Group will be needed for certain aspects of the restructuring, in addition to the final approval of creditors. None of the Group's debts will be written off. The day-to-day operation of the Group has been successful in recent months, but high financial expenses and large short-term debts have had a negative impact on the Group's position. Icelandair Group's management has been working closely with lenders in recent months on the financial restructuring of the Company with a view to strengthening its foundations. Icelandair Group has also been advised by a foreign bank having special expertise in the field of air carrier operations. If the restructuring goes through as planned, the understanding is that domestic creditors will convert loans in the amount of approximately ISK 4.8 billion into shares. In addition, debts in the amount of ISK 7.7 billion, together with assets in a corresponding amount, will be transferred to a separate holding company to be owned by Icelandic creditors. Remaining in Icelandair Group will be assets pertaining to what the board of directors has defined as core operations. These are Icelandair, Air Iceland, Iceland Travel (Vita), Icelandair Cargo, Icelandair Hotels, Icelandair Ground Services, Loftleidir-Icelandic and Fjárvakur, in addition to the Latvian air charter company SmartLynx, which is scheduled for divestment from the Group this year. Finally, there are plans to invite investors and the public to come with new share capital into the Company in share offerings to be held later this year, which will be launched in two stages. The first stage will take the form of a restricted tender procedure to a limited group of professional investors. This would be followed by a public offering to achieve the aim of Icelandair Group, Íslandsbanki and Glitnir of securing involvement in the Company by a broad group of investors, both professional and private. Icelandair Group has entrusted the supervision of both offers to Íslandsbanki's Corporate and Investment Banking. According to a preliminary income statement, the total turnover of the Company in 2009 amounted to ISK 80.3 billion from current operations. Of this figure, core operations accounted for ISK 75.2 billion. Earnings before financial items, taxes and depreciation (EBITDA) amounted to ISK 8.1, million, of which core operations accounted for ISK 7.3 billion. With the impact of the financial restructuring of the Company, the projected turnover for 2010 will amount to ISK 78.2 billion from core operations and EBITDA is projected at ISK 7.6 billion. Enclosed as attachment is a draft of the Icelandair Group Balance Sheet as at 31 December 2009 (left column) with an illustration of the impact of the proposed financial restructuring on the Balance Sheet (right column), excluding the effects of the proposed share offerings. Björgólfur Jóhannsson, President and CEO: “The financial restructuring of Icelandair Group will strengthen the Company's liquidity and equity position significantly and leave the Group better placed to deal with seasonal fluctuations in its business operations and reinforce organic growth. By selling off the assets which do not pertain to core operations, the Company has simplified its business model, and the restructured Balance Sheet places the Company in a position to return favourable operating results and meet its obligations. Icelandair Group is in the process of withdrawing from its role as an investment company to become an operating company specialising in universal tourist and air travel services." Owing to the restructuring process, Icelandair has decided to postpone the publication of its annual financial report until Week 15, and the Company's Annual General Meeting has been scheduled for May. For further information, please contact: Björgólfur Jóhannsson,President and CEO, tel.+354- 896 -1455 Bogi Nils Bogason, CEO, tel.+354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=392994&messageId=472421 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=298993 Company Release Financial Calendar 752526

2010-03-11 22:52:28

Icelandair Group hf. Financial Calendar Publishing of Q4 and Annual Results 2009 postponed Icelandair Group Q4 and annual results 2009 will be published in week 12 2010 instead of week 10 2010 as previously stated. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=389634&messageId=468023 Company Release Company Announcement 752224

2010-03-10 15:55:17

Icelandair Group hf. Company Announcement CORRECTION: Traffic Data February Corr: Attachment now in pdf Attached is the February Traffic Data for Icelandair Group. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=389293&messageId=467591 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=296179 Company Release Company Announcement 752215

2010-03-10 15:22:56

Icelandair Group hf. Company Announcement Traffic Data February Attached is the February Traffic Data for Icelandair Group. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=389283&messageId=467575 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=296170 Company Release Financial Calendar 748584

2010-02-16 11:47:33

Icelandair Group hf. Financial Calendar Publishing of Q4 and annual result 2009 postponed The publishing of the Q4 and annual result 2009 has been postponed until week 10 of 2010. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=385628&messageId=462629 Company Release Company Announcement 747660

2010-02-10 14:40:57

Icelandair Group hf. Company Announcement CORRECTION: Traffic Data - January On pg 2 the capacity increase year on year is 19% not 17% as previously stated. Attached is the January traffic data for Icelandair Group. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=384726&messageId=461428 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=291888 Company Release Company Announcement 747426

2010-02-09 21:12:57

Icelandair Group hf. Company Announcement Traffic Data - January Attached is the January traffic data for Icelandair Group. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=384506&messageId=461143 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=291707 Company Release Company Announcement 744001

2010-01-11 16:54:13

Icelandair Group hf. Company Announcement -Traffic Data December and the whole year 2009 Traffic Data December 2009 and the whole year 2009 Scheduled Flights Icelandair carried a total of 1.3 million passengers on scheduled routes last year, 9% fewer passengers than in 2008. The company reduced its capacity by 9% in 2009, thus the load factor on Icelandair flights was 75% in 2009, which is the same as the year before and similar to the previous four years. Icelandair divides its passengers into three markets, passengers travelling TO Iceland, passengers travelling FROM Iceland, and passengers travelling VIA Iceland on their way between Europe and North America, with a stopover in Keflavík. In 2009 there was a considerable change in this passenger mix. Passengers TO Iceland increased by 9%, from 40% to 49% of total passengers. The proportion of foreign passengers travelling with Icelandair has never been this high. Icelanders going abroad were 22% of total passengers for 2009. Passengers FROM Iceland where 31% in 2008, and were therefore reduced by a third between years. Passengers travelling VIA Iceland between the continents were 29% of total passengers, the same as in 2008. Air Iceland carried 375,000 passengers in 2009, compared to 416,000 in 2008. The load factor was 69% in 2009 compared to 67% in 2008. Capacity Solutions In capacity solutions and aircraft trading the year was marked by the tough market conditions in the international airline business. This was especially true with respect to SmartLynx in Latvia. Sold block hours increased by 2% between years but utilisation of aircraft went from 97% in 2008 to 94% in 2009 Cargo Capacity of the cargo companies Bluebird and Icelandair Cargo decreased by 28% between 2008 and 2009. Transported volume decreased by 37%. Tourism Hotel Room capacity with Icelandair Hotels was similar between years but room utilisation went from 66% in 2008 to 68% in 2009. Bookings During the first quarter of 2010 Icelandair increases its capacity by 20% from the same time last year. Bookings for the first quarter are looking good, and are 25% more than at the same time last year. Despite the fact that improvements are observable in the market, it is foreseen that quite some time will pass until demand and unit price in charter flights will recover Bogi Nils Bogason- CFO Icelandair Group Tel: 354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=380719&messageId=456252 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=288870 Company Release Company Announcement 740709

2009-12-09 23:26:03

Icelandair Group hf. Company Announcement - Traffic Data-November Attached is the Icelandair Group Traffic Data for November 2009. As of November 2009 Travel Service is no longer in majority ownership of Icelandair Group and therefore not included in the monthly traffic data. Comparable figures from 2008 have been adjusted accordingly Further information provided by: Bogi Nils Bogason, CFO of Icelandair Group, tel; 354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=377288&messageId=451567 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=286331 Company Release Annual Financial Statement 739468

2009-12-02 00:04:58

Icelandair Group hf. Financial Statement Release Presentation of Q3 and 9M 2009 results Attached is the presentation of Q3 and 9M 2009 results https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=376274&messageId=450235 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=285541 Company Release Annual Financial Statement 739247

2009-11-30 18:20:39

Icelandair Group hf. Financial Statement Release - Third Quarter and First nine months 2009 results Icelandair Group results in the third quarter of 2009 • Icelandair Group‘s total turnover was ISK 53.6 billion, increasing by 29% from the preceding year • EBITDA was ISK 8.4 billion, as compared to ISK 6.2 billion in the corresponding period of last year • EBIT was ISK 6.9 billion, as compared to ISK 5.1 billion at the same time last year. Depreciation amounted to ISK 1.6 billion, which represents an increase of ISK 0.5 billion from the preceding year • Net finance cost was ISK 2.1 billion, as compared to ISK 50 million in the preceding year • The Company's profit after taxes was ISK 4.0 billion, as compared to a profit of ISK 4.4 billion at the same time last year • The results of foreign subsidiaries before taxes fell ISK 1.3 billion short of the results for the same period of last year Icelandair Group results in the first nine months of 2009 • EBITDA was ISK 7.5 billion, as compared to ISK 7.2 billion in the corresponding period of last year • EBIT was ISK 3.3 billion, as compared to ISK 4.3 billion in the corresponding period of last year. Depreciation amounted to ISK 4.1 billion, which represents an increase of ISK 1.3 billion from the preceding year • Net finance cost was ISK 4.2 billion, as compared to ISK 0.8 billion in the preceding year • The Company's loss after taxes was ISK 1.1 billion, as compared to a profit of ISK 3.1 billion for the same time last year • Cash at the end of the period amounted to ISK 6.1 billion, as compared to ISK 7.4 billion for the corresponding period of last year • The equity ratio was 23.5 % at the end of September 2009, up from 20.3% at the end of 2008 • Assets were ISK 105.6 billion at the end of September 2009, as compared to ISK 98.8 billion at year-end 2008 Icelandair Group CEO Björgólfur Jóhannsson: “Icelandair Group's core business in the third quarter was successful, and improvements between years are evident in all the income statement ratios, with the exception of depreciation and financial items. We are pleased with the results of the quarter, and we are grateful to our staff for their excellent contribution under these trying circumstances. This year is probably the toughest our industry has experienced, and our foreign subsidiaries‘operations show that clearly, where we see less demand and lower prices having negative effect on the bottom line. Our main focus all this year has been the restructuring of the Group's balance sheet. It has been clear for a long time that leverage needs to be decreased, liquidity improved and the equity ratio strengthened. This process has taken more time than originally anticipated, but now the first steps have been taken in the restructuring. The decision has been made to simplify Icelandair Group's business model, emphasising the opportunities inherent in Icelandair's route network, tourism in Iceland and related operations, and our sights have been set on organic growth in these fields. This change is a consequence of changed financial markets, which have created the foundation for the business model we have been operating for quite some time. In time, and given the proper market conditions, we will sell again the strategic investments that the Company undertook in the years 2005-2007. The first step in that direction was taken last week, when we sold a 20% share in Travel Service and thereby ceased to be majority shareholders. Work on the restructuring will continue in the coming weeks. Assets that the Company intends to sell in the coming months will be re-assessed, and this could affect equity.“ Our target for the year as a whole, ISK 6.5 billion in EBITDA, remains unchanged. In our opinion, this would be a very acceptable operating result in light of the operating environment. However, the Company's financial costs are far to high, and great efforts are being focused on reducing them." https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=375657&messageId=449482 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=284539 Company Release Financial Calendar 738815

2009-11-27 13:05:10

Icelandair Group hf. Financial Calendar -Publishing of results for Q3 and first 9 months 2009 Icelandair Group will publish its results for the third quarter and first 9 months of 2009 on Monday 30 November. An open presentation will be held Tuesday 1 December at the Hilton Reykjavik Nordica. The presentation will start at 16:30. The senior management of Icelandair Group, will present the Company's results and answer questions. The presentation materials will be available after the meeting on the Icelandair Group Website: www.icelandairgroup.is https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=375423&messageId=449163 Company Release Company Announcement 738565

2009-11-26 11:11:06

Icelandair Group hf. Company Announcement - Icelandair Group sells 20% of its share in the Czech airline Travel Service. Yesterday Icelandair Group signed an agreement regarding the sale of 20% of its share in the Czech airline, Travel Service. After the transaction Icelandair Group holds a 30% share in Travel Service. The acquirer is Canaria Travel, which is under the same ownership as Icelandair Group's co-owners in Travel Service. After the sale Travel Service becomes an affiliated company instead of being a subsidiary. The effects of the sale on the income statement are negative by ISK 0.9 billion and equity decreases by ISK 1.5 billion. The Group‘s total assets decrease by ISK 12 billion. With this sale Icelandair Group will not participate in the financing of Travel Service's expansion. Björgólfur Jóhannsson, CEO of Icelandair Group: “As an Icelandic company with balance sheet that is being restructured, it is difficult to support the financing of our foreign subsidiaries. Effectively, our majority holding has affected the company‘s bank relations in the Czech Republic. Travel Service is a solid company and has returned good operating results, however it is foreseen that it‘s operating environment in the near future will be challenging. It is considered beneficial for both companies to sell our co-owners in the Czech Republic 20% of the shares, thus they become a majority shareholder in Travel Service”. For further information contact: Björgólfur Jóhansson, CEO of Icelandair Group Tel: 354-896-1455 Bogi Nils Bogason, CFO of Icelandair Group Tel: 354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=375177&messageId=448824 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=283920 Company Release Company Announcement 736457

2009-11-09 21:45:16

Icelandair Group hf. Company Announcement - Traffic Data-October 2009 Attached is the Icelandair Group Traffic Data for October 2009. Further information provided by: Bogi Nils Bogason, CFO of Icelandair Group, tel; 354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=372762&messageId=445596 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=281927 Company Release Annual Financial Statement 735767

2009-11-04 11:23:25

Icelandair Group hf. Financial Statement Release -Publishing of interim report postponed. According to the preliminary interim report EBITDA was ISK 8.4 billion in Q3, compared to ISK 6.2 billion in 2008. Publishing of interim report postponed. According to the preliminary interim report EBITDA was ISK 8.4 billion in Q3, compared to ISK 6.2 billion in Q3 2008. The publishing of the interim report 30.09.09, reviewed by the Company‘s auditors, has been postponed until week 49. The Company is engaged in financial restructuring, as has previously been reported. This work is well underway, but has not been finalized, therefore the preparation of the Group‘s interim report has been delayed. It is expected that important steps in the restructuring process will be finalized in November According to the preliminary interim report, the total turnover of Icelandair Group in the third quarter was ISK 53.7 billion, an increase of 29% from the same period of last year. EBITDA was ISK 8.4 billion, as compared to ISK 6.2 billion in the corresponding period of last year. Depreciation and financial cost increase considerably from the same period last year. In the period January - September 2009 the total turnover of Icelandair Group was ISK 108.1 billion, an increase by 28% from the corresponding period of last year. EBITDA was ISK 7.5 billion but was ISK 7.2 billion in the same period of 2008. Depreciation and financial cost rose considerably between years. Cash at September 30 2009 was ISK 6.1 billion but was ISK 7.4 billion at the same time last year. Björgólfur Jóhannsson CEO of Icelandair Group: “EBITDA for the third quarter considerably exceeds the budget for the year and the EBITDA shows significant operational improvement from the previous year, however depreciation and financial cost has increased substantially. In general, the subsidiaries of the Group are returning good results in the third quarter. Combination of dynamic marketing efforts and cost cutting measures have allowed the Group‘s employees to return impressive operational results under tough circumstances. Positive development of external factors, such as the Euro-Dollar exchange rate and jet fuel prices also contribute to the improved results. The primary key figures, such as cash and equity ratios, have improved considerably from the interim report as of June 30 2009. The restructuring of the Group‘s Capital Structure has been in progress in cooperation with its bank for quite some time. It is expected that important steps in the restructuring process will be finalized in November. Due to this the preparation of the interim report has been delayed and its publishing postponed until week 49”. For further information contact: Björgólfur Jóhannsson, CEO of Icelandair Group tel: 354-896-1455 Bogi Nils Bogason, CFO of Icelandair Group tel: 354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=371970&messageId=444554 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=281272 Company Release Company Announcement 732339

2009-10-09 17:51:01

Icelandair Group hf. Company Announcement Operationally, Icelandair Group had a successful August - traffic Operationally, Icelandair Group had a successful August. According to unaudited financial accounts EBITDA was ISK 3.1 billion, which is an improvement of ISK 0.5 billion over August 2008. Icelandair Group‘s EBITDA forecast for 2009 remains ISK 6.5 billion. Considering present presumptions the operations of the Group look good for the remainder of the year, and current EBITDA forecast is higher than projected in the Group‘s inital budget for the year. Attached is Icelandair Group Traffic Data for September 2009. Further information provided by: Bogi Nils Bogason, CFO of Icelandair Group, tel; 354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=368418&messageId=439908 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=278270 Company Release Company Announcement 728925

2009-09-28 12:13:16

Icelandair Group hf. Company Announcement - Icelandair expands schedule and plans tourism increase next year -Increases capacity up to 10% between years -Increases the number of foreign tourists about 20-25 thousand -Creates over 400 jobs in aviation and tourism throughout the country Icelandair has decided to increase its flights next year by up to 10% and make a special effort in bringing tourists to the country. Icelandair flies to Iceland from 26 cities in Europe and North America and will expand next summer from 140 weekly trips to a total of 155 flights per week, or 23 flights daily in the high season. Icelandair adds one Boeing 757 passenger jet to its scheduled fleet and will have 12 aircraft in operation next summer. The company will increase the schedule to a number of destinations and two new destinations, Brussels, Belgium and Trondheim in Norway, will be added to the network. "We are utilising the opportunity that we see now to increase the sale of trips to Iceland with profitability. We believe that the attention Iceland has gained internationally recently and the low exchange rate of the ISK creates opportunities in several markets. Now it's known among the trade and the general public that consumer service in Iceland is still excellent despite the economic recession and Iceland is an equally interesting place as it has been - even more interesting. We use the flexibility inherent in the company to strengthen our marketing efforts internationally", says Birkir Hólm Gudnason, CEO of Icelandair. Icelandair estimates that the added capacity will increase the number of tourist visiting Iceland of about 20-25 thousand and they will bring into the country about six billion ISK in foreign currency to purchase goods and services. The increase will create about 100 additional direct jobs in aviation and flight services and in addition it can be assumed that over three hundred new jobs will be created in the Icelandic tourism industry to service the number of tourists. "In making this decision we, of course, are looking primarily to the profitability of Icelandair, but it is certainly a welcomed addition that increased sales abroad, are a major boost for the travel industry in this country. This is a very job demanding industry and important for the government and indeed all the public to support it, "said Birkir Hólm. The network is the key The Icelandair route network is based on the country's geographical location between Northern Europe and North America. With the hub and spoke system Icelandair is able to serve three markets; the home market in Iceland, the Icelandic tourist market and the international market on the route between Europe and North America through Keflavik Airport. "The flight frequency that Icelandair ensures - i.e. about 150 flights a week to and from many major cities in Europe and North America is the basis for the travel industry in Iceland and the importance of maintaining good communications between Iceland and other countries will never be overestimated, "says Birkir Hólm. For further information, please contact Guðjón Arngrímsson, Icelandair VP Corporate Communications, +354 864 5849 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=364931&messageId=435867 Company Release Company Announcement 726899

2009-09-09 16:35:44

Icelandair Group hf. Company Announcement - Traffic data for August and July results Operationally, Icelandair Group had a successful July. According to unaudited financial accounts EBITDA was ISK 3.0 billion, which is an improvement of ISK 0.3 billion over July 2008. EBITDA for the Icelandic subsidiaries was ISK 1.1 billion, an improvement of 57% compared to July 2008, which is mostly due to strong improvement of Icelandair. The operations of Travel Service in the Czech Republic were good, but negative oil hedges resulted in a reduction of profit compared to the same period of last year. The restructuring of SmartLynx is still underway and it‘s results were lower than in July of last year. Icelandair Group‘s EBITDA forecast for 2009 remains ISK 6.5 billion. Considering present presumptions the operations of the Group look good for the remainder of the year, and thus EBITDA will be higher than projected in the Group‘s inital budget for the year. Attached is Icelandair Group Traffic Data. In the future this information will be published every month. Further information provided by: Bogi Nils Bogason, CFO of Icelandair Group, tel; 354-665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=362986&messageId=433178 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=275579 Company Release Annual Financial Statement 723496

2009-08-17 12:01:54

Icelandair Group hf. Financial Statement Release -Presentation of Q2 and 1H 2009 Results Attached is the presentation of Icelandair Group Q2 and 1H results. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=358784&messageId=427717 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=270625 Company Release Annual Financial Statement 723376

2009-08-14 17:05:23

Icelandair Group hf. Financial Statement Release Second Quarter and First half Results Results of Icelandair Group in the second quarter of 2009 • Improved performance for Icelandair ehf. compared to the corresponding period of last year • Icelandair Group‘s total turnover was ISK 33.7 billion, increasing by 17% from the preceding year • EBITDA was ISK 1.3 billion, as compared to ISK 1.9 billion in the corresponding period of last year • EBIT was negative by ISK 36 million, as compared to a positive figure of ISK 0.9 billion for the same period last year • Net financial costs amounted to ISK 1.5 billion, as compared to ISK 0.4 billion in the preceding year • The Company's loss after taxes was ISK 1.3 billion, as compared to a profit of ISK 0.4 billion at the same time last year Icelandair Group results in the first six months of 2009 • Results better than anticipated in spite of the challenging operating environment • The Company‘s total turnover was ISK 54.5 billion, up by 27% from the preceding year • EBITDA was negative by ISK 1.0 billion, as compared to a positive result of ISK 1.0 billion in the corresponding period of last year • EBIT was negative by ISK 3.5 billion, as compared to a negative result of ISK 0.8 billion for the same period of last year • The results of foreign subsidiaries before taxes fell ISK 3.8 billion short of the results for the same period of last year • Net financial cost amounted to ISK 2.1 million, as compared to ISK 0.7 billion in the corresponding period of last year • Losses after taxes came to ISK 5.0 billion, as compared to ISK 1.3 billion over the corresponding period of last year • Cash at the end of the period amounted to ISK 6.2 billion, as compared to ISK 6.3 billion at the same time last year • The equity ratio was 17.8 % at the end of June 2009, down from 20.3% at the end of 2008 • Assets amounted to ISK 105.9 billion at the end of June 2009, as compared to ISK 98.8 billion at year-end 2008 CEO's, Björgólfur Jóhannsson comment along with the pressrelease is attached https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=336874&messageId=405744 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=232679 Company Release Financial Calendar 722837

2009-08-11 13:51:26

Icelandair Group hf. Financial Calendar Publishing of second quarter and first half 2009 results. Icelandair Group will publish its second quarter and first half results for 2009 on Friday 14 August. An open presentation will be held Monday 17 August at the Hilton Reykjavik Nordica. The presentation will start at 8:30. The senior management of Icelandair Group, will present the Company's results and answer questions. The presentation materials will be available after the meeting on the Icelandair Group Website: www.icelandairgroup.is https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=336367&messageId=405055 Company Release Changes board/management/auditors 722656

2009-08-10 11:20:58

Icelandair Group hf. Changes board/management/auditors Chairman and Vice Chairman of the Board of Directors. The Board of Directors of Icelandair Group has elected chairman and vice-chairman of the Board. Chairman: Sigurður Helgason Vice-Chairman: Finnur Reyr Stefánsson https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=336209&messageId=404837 Company Release Minutes of extraordinary general meeting 722434

2009-08-06 19:13:26

Icelandair Group hf. Decisions of extraordinary general meeting - Decisions of shareholdersmeeting Following are the decisions of the shareholdersmeeting of Icelandair Group, 6 August 2009: 1) Proposal relating to amendment to the Articles of Association of the company. The following Article will be added to the Articles of Association as Article 5. a.: The Board of Directors of the company is authorized to increase the share capital in the following manner: (i) The share capital of the company may be increased by up to ISK 4.000.000.000 - four billion Icelandic Kronas nominal value- by means of subscription to new shares. (ii) This authorization is valid until July 1st 2010. (iii) The nominal value of shares that the shareholders can subscribe to is one ISK. The subscription rate can be decided by means of invitation to tender for new shares. (iv) The priority rights of sharholders to subscribe to new shares shall be limited to the proportion of their ownership in the company. (v) Shareholders may pay, partially or in full, for the shares that they subscribe to, by means of set-off of indebtedness, as may be further decided by the Board of Directors. A specialized report due to payment by means of set-off of indebtedness shall not be prepared. Instead the Board of Directors shall prepare a statement regarding the value of the payment, in accordance with Article 6 c of Act no. 2/1995 respecting Public Limited Companies. (vi) The new shares shall grant rights within the Company as of the date of registration of the increase of share capital. The Board of Directors shall lay down further rules relating to respite for subscription and payments for shares. A decision of the Board of Directors to increase the share capital shall be approved by an increased majority of the board - four out of five members. 2) Elections to the Board of Directors. Board members: Finnur Reyr Stefánsson, id. 141069-3659 Jón Ármann Guðjónsson, id. 060468-3039 Katrín Olga Jóhannesdóttir, id. 010862-7369 Pétur J Eiríksson, id. 050550-7969 Sigurður Helgason, id. 010546-2069 Alternate board members: Kristín Einarsdóttir, id. 110149-4179 Magnús Magnússon, id.160965-4799 Tómas Kristjánsson, id. 151165-3389 The board has not yet met to elect Chairman of the Board and Vice-Chairman. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=335969&messageId=404502 Company Release Notice to convene extr.general meeting 722072

2009-08-04 11:54:39

Icelandair Group hf. Notice to convene extr.general meeting Candidates for the Board of Directors Following are the candidates for the Board of Directors of Icelandair Group at the shareholders meeting to be held on Thursday 6 August at 16:00 at the Hilton Reykjavík Nordica: Board members. Finnur Reyr Stefánsson, id. 141069-3659 Friðrik Á Brekkan, id. 210451-5959 Geirþrúður Alfreðsdóttir, id. 181159-5459 Hlíf Sturludóttir, id. 200868-4479 Jón Ármann Guðjónsson, id. 060468-3039 Jónas Gauti Friðþjófsson, id. 170766-5719 Katrín Olga Jóhannesdóttir, id. 010862-7369 Pétur J Eiríksson, id. 050550-7969 Sigurður Helgason, id. 010546-2069 Alternate board members Kristín Einarsdóttir, id. 110149-4179 Magnús Magnússon, id.160965-4799 Tómas Kristjánsson, id. 151165-3389 The shareholders meeting shall elect 5 board members and 3 alternate members. Alternate board members of Icelandair Group have therfore been chosen without election. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=335369&messageId=403685 Company Release Financial Calendar 721850

2009-07-31 20:14:58

Icelandair Group hf. Financial Calendar Publishing of Q2 and first half results Icelandair Group will publish its second quarter and first half 2009 results on 14 August 2009. This is a change from the previously announced publishing in week 32 2009. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=335403&messageId=403731 Company Release Notice to convene extr.general meeting 720284

2009-07-15 19:00:27

Icelandair Group hf. Notice to convene extr.general meeting Shareholder meeting on 6 August 2009 A Shareholdermeeting in Icelandair Group will be held on Thursday 6 August 2009 at the Hilton Reykajvík Nordica. Agenda: 1. Proposal relating to amendment to the Articles of Association of the company. The following Article would be added to the Articles of Association as Article 5. a.: The Board of Directors of the company is authorized to increase the share capital in the following manner: (i) The share capital of the company may be increased by up to ISK 15.000.000.000 - fifteen billion Icelandic Kronas - by means of subscription to new shares. (ii) This authorization is valid until July 1st 2010. (iii) The nominal value of shares that the shareholders can subscribe to is one ISK. The subscription rate can be decided by means of invitation to tender for new shares. (iv) Shareholders shall not have priority rights to subscribe to new shares. (v) Shareholders may pay, partially or in full, for the shares that they subscribe to, by means of set-off of indebtedness, as may be further decided by the Board of Directors. A specialized report due to payment by means of set-off of indebtedness shall not be prepared. Instead the Board of Directors shall prepare a statement regarding the value of the payment, in accordance with Article 6 c of Act no. 2/1995 respecting Public Limited Companies. (vi) The new shares shall grant rights within the Company as of the date of registration of the increase of share capital. The Board of Directors shall lay down further rules relating to respite for subscription and payments for shares. 2. Election of Board of Directors 3. Any other lawfully submitted business All announcements of candidacy for the Board of Directors or the reserve board shall be delivered in writing to the Company's head quarters at Reykjavíkurflugvöllur five days before the meeting. The announcement shall indicate, as well as the name of the candidate, the candidates' social security number and address, information on main occupation, other board participation, education, experience and share ownership in the Company. The announcement shall also contain information on connections of interest with the Companys' main business associates and the Companys' competitors, as well as information on connections to other shareholders in the company which hold a share of 10% or more. If a shareholder wishes to have matters submitted to the meetings agenda, he must send a written request to the company‘s main office seven days before the meeting. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=333874&messageId=401688 Company Release Company Announcement 718021

2009-06-24 16:57:06

Icelandair Group hf. Company Announcement -Share Increase In Travel Service Today, an agreement was executed regarding an increase in the share capital of Travel Service, an Icelandair Group subsidiary in the Czech Republic. Icelandair Group co-owners, Unimex Group and Roman Vik will register for the new shares in the company, increasing their share holding from 34% to 49.9%. Following the share capital increase the shareholding of Icelandair Group in Travel Service will be 50.1% instead of 66% before. This increase will not affect the profit and loss statement of Icelandair Group but equity will decrease by ISK 300 million. “Travel Service is being strengthened with this increase in share capital. The company‘s operations have been good this year and better than anticipated. Many growth opportunities arise in the current situation in the international airline business which the company is evaluating. With the share capital increase the company is better equipped to strengthen its position in the near future. “says Björgólfur Jóhannsson, CEO of Icelandair Group. For further informmation contact Björgólfur Jóhannsson, CEO Icelandair Group Tel: 354-896-1455 Bogi Nils Bogason, CFO Icelandair Group Tel: 354-665-8001 Sigþór Einarsson, Deputy CEO Icelandair Group Tel: 354-897-8363 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=331717&messageId=398783 Company Release Major shareholder announcements 714223

2009-05-25 16:17:11

Icelandair Group hf. Major shareholder announcements CORRECTION: - Date of transaction May 22 2009 Correction- an English translation of the press release from Landsbanki has been added. Attached is a major shareholder announcement from Landsbanki Íslands hf. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=328341&messageId=393911 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=226399 Company Release Major shareholder announcements 714134

2009-05-25 12:31:29

Icelandair Group hf. Major shareholder announcements - Date of Transaction 22 May 2009 Attached is a major shareholders announcement from Langflug ehf. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=328228&messageId=393734 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=226259 Company Release Major shareholder announcements 714129

2009-05-25 12:23:24

Icelandair Group hf. Major shareholder announcements - Date of transaction May 22 2009 Attached is a major shareholder announcement from Landsbanki Íslands hf. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=328224&messageId=393726 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=226253 Company Release Major shareholder announcements 713426

2009-05-18 15:18:59

Icelandair Group hf. Major shareholder announcements CORRECTION: Date of transaction 18 May 2009 Publicerad: 2009-05-18 11:32:02 CEST Corr.- Published on correct form Attached is a major shareholders annoncement from Naust ehf. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=327536&messageId=392734 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=225818 Company Release Major shareholder announcements 713425

2009-05-18 15:18:09

Icelandair Group hf. Major shareholder announcements CORRECTION: Date of transaction 18 May 2009 Publicerad: 2009-05-18 11:35:41 CEST Correction- Published on correct form Attached is a major shareholders announcment from Fjárfestingarfélagið Máttur. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=327535&messageId=392731 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=225809 Company Release Major shareholder announcements 713373

2009-05-18 12:17:28

Icelandair Group hf. Major shareholder announcements 15 Largest shareholders in Icelandair Group Attached is a list of the major shareholders of Icelandair Group as of 18 May https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=327504&messageId=392687 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=225791 Company Release Major shareholder announcements 713357

2009-05-18 11:35:41

Icelandair Group hf. Major shareholder announcements CORRECTION: Date of transaction 18 May 2009 Corr. change of message category Attached is a major shareholders announcment from Fjárfestingarfélagið Máttur. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=327501&messageId=392682 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=225776 Company Release Major shareholder announcements 713355

2009-05-18 11:32:02

Icelandair Group hf. Major shareholder announcements CORRECTION: Date of transaction 18 May 2009 Corr. change of message catgory Attached is a major shareholders annoncement from Naust ehf. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=327500&messageId=392680 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=225774 Company Release Major shareholder announcements 713353

2009-05-18 11:27:13

Icelandair Group hf. Major shareholder announcements CORRECTION: Date of Transaction 18 May 2009 Change of message category. Attached is a a major shareholder announcement from Íslandsbanki hf. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=327494&messageId=392669 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=225772 Company Release Insiders' dealing 713351

2009-05-18 11:16:19

Icelandair Group hf. Insiders' dealing - Date of Transaction Auðkenni útgefanda/Trade ticker: ICEAIR Nafn útgefanda/Issuer: Icelandair Group Dagsetning tilkynningar/Date of announcement 18.maí 2009 /18 May 2009 Nafn fjárhagslega tengds aðila sem á viðskipti/Name of related party trading the shares: Fjárfestingarfélagið Tannanes ehf Nafn fruminnherja/Name primary insider: Sigþór Einarsson Tengsl fruminnherja við útgefanda/Insider's relation with the issuer: Sigþór Einarsson er aðstoðarforstjóri félagsins/is the Deputy CEO of the company Dagsetning viðskipta/Date of transaction: 18.05.09 Tímasetning viðskipta/Time of transaction: 0 Tegund fjármálagernings/Type of financial instrument: Hlutabréf/shares Kaup eða sala/Buy or Sell: Sala/sell Fjöldi hluta/Number of shares: 3.703.704 Verð pr. Hlut/Price per share: 4,5 Fjöldi hluta í eigu fruminnherja eftir viðskipti/Primary insider's holdings after the transaction: Fjöldi hluta sem fruminnherji á kauprétt að/Primary insider's option holdings after the transaction: 0 Fjöldi hluta fjárhagslega tengdra aðila eftir viðskipti/Related parties' holdings after the transaction: 0 Dagsetning lokauppgjörs*/Date of settlement*: 0 Athugasemdir*/Comments*: Íslandsbanki hefur leyst til sín hlutabréf Fjárfestingafélagsins Tannaness ehf í Icelandair Group sbr. tilkynningu frá Íslandsbanka þann 18.5.2009. The transaction is due to Islandsbanki obtaining the shares of Fjárfestingarfélagið Tannanes ehf in Icelandair Group - Reference is made to an announcement from Íslandsbanki dated 18 May 2009 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=327400&messageId=392538 Company Release Insiders' dealing 713349

2009-05-18 11:15:52

Icelandair Group hf. Insiders' dealing - Date of transaction May 18 2009 Auðkenni útgefanda/Trade ticker: ICEAIR Nafn útgefanda/Issuer: Icelandair Group Dagsetning tilkynningar/Date of announcement 18.maí 2009 /18 May 2009 Nafn fjárhagslega tengds aðila sem á viðskipti/Name of related party trading the shares: Fjárfestingarfélagið Máttur Nafn fruminnherja/Name primary insider: Jón Benediktsson Tengsl fruminnherja við útgefanda/Insider's relation with the issuer: Jón Benediktsson er vara stjórnarmaður félaginu/Jón Benediktsson is an alternate board member of the company Dagsetning viðskipta/Date of transaction: 18.05.09 Tímasetning viðskipta/Time of transaction: 0 Tegund fjármálagernings/Type of financial instrument: Hlutabréf/shares Kaup eða sala/Buy or Sell: Sala/sell Fjöldi hluta/Number of shares: 231.101.393 Verð pr. Hlut/Price per share: 4,5 Fjöldi hluta í eigu fruminnherja eftir viðskipti/Primary insider's holdings after the transaction: 370.370 Fjöldi hluta sem fruminnherji á kauprétt að/Primary insider's option holdings after the transaction: 0 Fjöldi hluta fjárhagslega tengdra aðila eftir viðskipti/Related parties' holdings after the transaction: 0 Dagsetning lokauppgjörs*/Date of settlement*: 0 Athugasemdir*/Comments*: Íslandsbanki hefur leyst til sín hlutabréf Fjárfestingafélagsins Máttar ehf í Icelandair Group sbr. tilkynningu frá Íslandsbanka þann 18.5.2009. The transaction is due to Islandsbanki obtaining the shares of Fjárfestingarfélagið Máttur ehf in Icelandair Group - Reference is made to an announcement from Íslandsbanki dated 18 May 2009 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=327398&messageId=392534 Company Release Insiders' dealing 713347

2009-05-18 11:14:59

Icelandair Group hf. Insiders' dealing - Date of transaction May 18 2009 Auðkenni útgefanda/Trade ticker: ICEAIR Nafn útgefanda/Issuer: Icelandair Group Dagsetning tilkynningar/Date of announcement 18.maí 2009 /18 May 2009 Nafn fjárhagslega tengds aðila sem á viðskipti/Name of related party trading the shares: Fjárfestingarfélagið Máttur Nafn fruminnherja/Name primary insider: Einar Sveinsson Tengsl fruminnherja við útgefanda/Insider's relation with the issuer: Einar Sveinsson er varaformaður stjórnar/Einar Sveinsson is the vice-chairman of the board of directors Dagsetning viðskipta/Date of transaction: 18.05.09 Tímasetning viðskipta/Time of transaction: 0 Tegund fjármálagernings/Type of financial instrument: Hlutabréf/shares Kaup eða sala/Buy or Sell: Sala/sell Fjöldi hluta/Number of shares: 231.101.393 Verð pr. Hlut/Price per share: 4,5 Fjöldi hluta í eigu fruminnherja eftir viðskipti/Primary insider's holdings after the transaction: 0 Fjöldi hluta sem fruminnherji á kauprétt að/Primary insider's option holdings after the transaction: 0 Fjöldi hluta fjárhagslega tengdra aðila eftir viðskipti/Related parties' holdings after the transaction: 0 Dagsetning lokauppgjörs*/Date of settlement*: 0 Athugasemdir*/Comments*: Íslandsbanki hefur leyst til sín hlutabréf Fjárfestingafélagsins Máttar ehf í Icelandair Group sbr. tilkynningu frá Íslandsbanka þann 18.5.2009. The transaction is due to Islandsbanki obtaining the shares of Fjárfestingarfélagið Máttur ehf in Icelandair Group - Reference is made to an announcement from Íslandsbanki dated 18 May 2009 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=327397&messageId=392533 Company Release Changes in share capital and votes 713345

2009-05-18 11:13:28

Icelandair Group hf. Changes in share capital and votes Date of Transaction 18 May 2009 Attached is a a major shareholder announcement from Íslandsbanki hf. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=327480&messageId=392646 Company Release Changes in share capital and votes 713342

2009-05-18 11:12:20

Icelandair Group hf. Changes in share capital and votes Date of transaction 18 May 2009 Attached is a major shareholders annoncement from Naust ehf. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=327485&messageId=392655 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=225767 Company Release Changes in share capital and votes 713340

2009-05-18 11:09:24

Icelandair Group hf. Changes in share capital and votes Date of transaction 18 May 2009 Attached is a major shareholders announcment from Fjárfestingarfélagið Máttur. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=327482&messageId=392650 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=225764 Company Release Changes in share capital and votes 713336

2009-05-18 10:56:44

Icelandair Group hf. Changes in share capital and votes - Íslandsbanki obtains 42% of the shares in Icelandair Group Íslandsbanki hf. obtains 42% of shares in Icelandair Group hf. Íslandsbanki today announced that it has obtained 42% of shares in Icelandair Group. In its press release the Bank says that this will not affect the daily operations of the company, that the company will continue to be listed on OMX Nasdaq and that the Banks's stake will be sold in an open and transparent sales process as soon as possible. Íslandsbanki also says in the press release that Icelandair Group's operations in the first quarter 2009 exceeded management expectations. For further information please contact Björgólfur Jóhannsson, Icelandair Group CEO tel: +3548961455 Bogi Nils Bogason Icelandair Group CFO tel: +3546658801 Following is the press release of Íslandsbanki hf: Press Release: “Íslandsbanki hf. obtains 42% of shares in Icelandair Group hf. - Will not affect the daily operations of Icelandair Group hf. - The company will continue to be listed on OMX Nasdaq - The FSA in Iceland has granted Íslandsbanki an exemption from a mandatory bid - The Bank's stake will be sold in an open and transparent sales process Reykjavík 18 May 2009 Íslandsbanki hf. has, as of today, obtained 42% of shares in Icelandair Group hf. The shares were acquired at the price of ISK 4.5 per share which is the last trading price of the company's shares. Total shares owned by the Bank after the acquisition is 47%. This change in ownership will not affect the daily operations of Icelandair Group hf. The shares which Íslandsbanki hf. has taken possession and title of today were pledged as security for loans to finance shareholders investment in Icelandair Group. Financial restructuring continues Operations of Icelandair Group hf. in the first quarter 2009 exceeded management's expectations. Íslandsbanki hf. has worked closely with Icelandair Group hf. on the financial restructuring of the company. This work is in progress and the Bank intends to continue to work with the company's management team. The company will continue to be listed Icelandair Group hf. is listed on Nasdaq OMX Stock Exchange and its current number of shareholders is 850. The group consists of 12 subsidiaries working in the airline and travel service industry with a total of 4000 employees. It is the intention of Íslandsbanki hf. that Icelandair Group hf. will continue to be a listed company at Nasdaq OMX. The Bank intends to sell its stake in an open and transparent sales process at earliest possible time. The Financial Supervisory Authority in Iceland has granted Íslandsbanki hf. an exemption from a mandatory bid, but has limited the Bank's voting rights to 30% of the common stock. A shareholder meeting is expected to be held in the near future. For further information please contact: Már Másson, Head of Corporate Communications, mobile +354 844 4990, e-mail: mar.masson@islandsbanki.is . Vala Pálsdóttir, Corporate Communication, mobile, +354 844 4989, e-mail: vala.palsdottir@islandsbanki.is .“ https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=327401&messageId=392541 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=225746 Company Release Annual Financial Statement 712281

2009-05-11 13:44:44

Icelandair Group hf. Financial Statement Release Presentation of Q1 2009 Results Attached is the presentation of Q1 2009 Results. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=326423&messageId=391215 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=224947 Company Release Annual Financial Statement 712137

2009-05-08 19:56:39

Icelandair Group hf. Financial Statement Release First Quarter 2009 Results Icelandair Group results for the first quarter of 2009 * Results better than anticipated in spite of extremely challenging operating environment * Best performance of the Icelandic airline, Icelandair in the first quarter since the company was organised in its present form * Travel Service was not a part of Icelandair Group in the first quarter of 2008 * The company‘s total turnover was ISK 20.7 billion, increasing by 48% from the preceding year * EBITDA was negative by ISK 2.3 billion, as compared to a negative result of ISK 0.9 billion in the corresponding period of last year. Q1 plans expected á negative EBITDA amounting to ISK 4,1 billion * EBIT was negative by ISK 3.5 billion, as compared to a negative result of ISK 1.7 billion for the corresponding period of last year * Loss after taxes came to ISK 3.6 billion, as compared to ISK 1.7 billion for the corresponding period of last year * Cash at the end of the period amounted to ISK 2.8 billion, as compared to ISK 3.3 billion at the end of the corresponding period of last year * Assets amounted to ISK 98.1 billion at the end of March 2009, as compared to ISK 98.9 billion at year-end 2008 * The equity ratio was 17.2% at the end of March 2009, down from 20.3% at the end of 2008 * EBITDA for the whole year 2009 estimated to be approximately ISK 6 billion https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=326302&messageId=391057 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=224826 Company Release Financial Calendar 711332

2009-05-05 13:51:15

Icelandair Group hf. Financial Calendar Publishing of Q1 2009 Results. Icelandair Group will publish its first quarter results for 2009 on Friday 8 May. An open presentation will be held Monday 11 May at the Hilton Reykjavik Nordica. The presentation will start at 8:30. The senior management of Icelandair Group, will present the Company's results and answer questions. The presentation materials will be available after the meeting on the Icelandair Group Website: www.icelandairgroup.is https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=325344&messageId=389740 Company Release Company Announcement 709293

2009-04-24 19:31:57

Icelandair Group hf. Company Announcement CORRECTION: - Operation and financing of Icelandair Group Correction: Headline was missing from previous announcement Icelandair Group will publish its interim financial statements for the first quarter of 2009 on 8 May. The operational result of Icelandair Group was better in the first quarter of 2009 than the Company‘s plans had anticipated. The biggest contributors to this outcome are the results of the largest companies in the Group, Icelandair and Travel Service, which were substantially better than expected. Icelandair itself returned the best EBITDA for the first quarter since the establishment of the company in its present form in 2001. Furthermore, cash flow from the Groups operations has been stronger than expected, and the company did not require additional funding from its commercial bank, as had been expected. Ever since Icelandair Group was listed on the Icelandic Stock Exchange at the end of 2006, the short term debt on the balance sheet has been too high and the key ratios of the balance sheet have not changed substantially from year end 2006. As previously stated in an announcement from the company on 26 January 2009, notes amounting to ISK 2.5 billion were refinanced short term, i.e. for three months. From that time the Company has worked closely with its commercial bank with the aim to restructure the capital profile of the Company. This work has progressed quite well. The objective is to adapt the repayment schedule of the company's debts into line with its long-term payment capacity. This work is scheduled to be completed in the next few weeks and the notes, amounting to ISK 2.5 billion have been extended in accordance with the work schedule. For further information: Björgólfur Jóhannsson, CEO Icelandair Group tel: +354 896-1455 Bogi Nils Bogason, CFO Icelandair Group tel: +354 665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=323610&messageId=387382 Company Release Company Announcement 709283

2009-04-24 17:58:00

Icelandair Group hf. Company Announcement - Icelandair Group will publish its interim financial statements for the first quarter of 2009 on 8 May. The operational result of Icelandair Group was better in the first quarter of 2009 than the Company‘s plans had anticipated. The biggest contributors to this outcome are the results of the largest companies in the Group, Icelandair and Travel Service, which were substantially better than expected. Icelandair itself returned the best EBITDA for the first quarter since the establishment of the company in its present form in 2001. Furthermore, cash flow from the Groups operations has been stronger than expected, and the company did not require additional funding from its commercial bank, as had been expected. Ever since Icelandair Group was listed on the Icelandic Stock Exchange at the end of 2006, the short term debt on the balance sheet has been too high and the key ratios of the balance sheet have not changed substantially from year end 2006. As previously stated in an announcement from the company on 26 January 2009, notes amounting to ISK 2.5 billion were refinanced short term, i.e. for three months. From that time the Company has worked closely with its commercial bank with the aim to restructure the capital profile of the Company. This work has progressed quite well. The objective is to adapt the repayment schedule of the company's debts into line with its long-term payment capacity. This work is scheduled to be completed in the next few weeks and the notes, amounting to ISK 2.5 billion have been extended in accordance with the work schedule. For further information: Björgólfur Jóhannsson, CEO Icelandair Group tel: +354 896-1455 Bogi Nils Bogason, CFO Icelandair Group tel: +354 665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=323596&messageId=387364 Company Release Company Announcement 703336

2009-03-25 13:00:00

Icelandair Group hf. Company Announcement Icelandair announces direct service to Seattle Icelandair, a subsidiary of Icelandair Group, introduces four direct scheduled flights a week to Seattle, starting next 22 July. • A business opportunity resulting from changes in global markets • Fits in with Icelandair's route network based on Iceland's geographic location on the direct route between North America and Northern Europe. • Icelandair's efficient Boeing 757 jets are perfectly suited for the flights • The flight will generate income in foreign currency, create up to a hundred jobs and strengthen the tourist industry Icelandair CEO Birkir Hólm Gudnason: “Icelandair operates a strong route network, and the company's success is based on constant alertness, development and cost savings. The departure of SAS from the market between Scandinavia and Seattle this summer will create an opportunity for Icelandair; owing to Iceland's geographic location, we can utilise our Boeing 757's for the flights, which are much smaller and more efficient than the wide-bodies currently flying between Seattle and Europe. With the stopover in Iceland, passengers choose a number of European cities, as in the case of Icelandair's other flight connections in Iceland. This puts Icelandair in a favourable competitive position on the route between Seattle and Europe, and we can offer 3-4 hours shorter flying times than others from the Scandinavian capitals and other locations. Also, in cooperation with Alaska Airlines, the largest airline in Seattle, we can offer same-day flight connections to cities such as Las Vegas, Los Angeles, San Francisco and other major airports. This new route illustrates Icelandair's strength and flexibility. With its operations in numerous markets in Europe and North America, Icelandair is maintaining strong transport connections between Iceland and the rest of the world, even in the face of a temporary downturn in travel from Iceland. We are in fact operating in three different markets: the domestic market in Iceland, the tourist market to Iceland and the international market between Europe and North America. In the current economic climate, our focus is on bringing tourists to Iceland and participating in the international market. Passengers on the Seattle flights will mostly be from the international market. We anticipate that only about 7% of our passengers will be Icelanders; over 93% will be non-Icelandic, partly tourists destined for Iceland and partly passengers en route between the two continents. Times are currently difficult in the international air transport sector, but Icelandair has gone against the current before. Following the terrorist attacks on 1 September 2001, demand for air travel plunged, but Icelandair seized the opportunities that came up, and in 2002 the company returned its best ever operating results while other airlines struggled. Early last year, Icelandair made extensive changes in its operations in light of the deteriorating economic climate, and on the collapse of the Icelandic banks the company changed its points of focus in its sales activities. Improved cost structure creates opportunities and the operational results for the first few months of the year are better than anticipated and Icelandair's position is now sound. It is a matter of special satisfaction that this decision will call for an increase in the number of job opportunities relating to the flights, and we are assuming that up to a hundred new jobs will be created in addition to the important jobs created throughout the country as a result of the increased number of tourists. Also, Seattle is an extremely attractive city and a sister city of Reykjavik.” There will be four flights a week from Iceland, on Mondays, Wednesdays, Fridays and Saturdays, departing from Iceland at 17:00 and arriving in Seattle at 16:45. Flights from Seattle will be on Tuesdays, Thursdays, Saturdays and Sundays, departing at 15:30 and arriving in Iceland at 06:45. Icelandair has a history of 72 years, and few international airlines have a comparable tradition of flight services between Europe and North America. At this point in its history, Icelandair is offering its customers outstanding services in three flight classes, Saga Class, Economy Comfort and Economy, with all its aircraft featuring new seats and personal entertainment systems for all passengers. Icelandair has been a participant in IATA since 1950, in AEA since 1957, and the Flight Safety Foundation since 1966. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=318218&messageId=380123 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=218022 Company Release Company Announcement 702564

2009-03-20 16:53:37

Icelandair Group hf. Company Announcement - CEO stock options cancelled The Board of Directors of Icelandair Group hf. agreed on a meeting today, March 20th 2009, a proposal made by the CEO and the Chairman of the Board of Directors to cancel all stock options that the CEO has in the company. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=317563&messageId=379222 Company Release Company Announcement 700052

2009-03-06 17:19:56

Icelandair Group hf. Company Announcement - Termination of Market Making Agreement with Saga Capital. Icelandair Group and Saga Capital have as of today terminated their market making agreement concerning shares in Icelandair Group. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=315299&messageId=376115 Company Release Minutes of extraordinary general meeting 699343

2009-03-03 16:43:31

Icelandair Group hf. Decisions of extraordinary general meeting Board of Directors of Icelandair Group elected at AGM 2 March 2009 Following is the Board of Directors of Icelandair Group elected at the Annual General Meeting 2 March 2009: Board Members: Ásgeir Baldurs, kt.171172-5439, Lómasölum 13, Kópavogi Einar Sveinsson, kt. 030448-2789, Bakkaflöt 10, Garðabæ Finnur Reyr Stefánsson, kt: 141069-3659, Brekkuási 11, Garðabæ Gunnlaugur M. Sigmundsson, kt. 300648-3719, Þverárseli 20, Reykjavík Martha Eiríksdóttir, kt. 251257-5159, Vesturbrún 33, Reykjavík Alternate Board Members: Jón Benediktsson, kt. 161064-3359, Hæðarbyggð 23, Garðabæ Ómar Benediktsson, kt. 221059-4689, Ægisíðu 58, Reykjavík Sigurður Atli Jónsson, kt.040268-5299, Ystaseli 19, Reykjavík At a meeting of the Board of Directors following the AGM Gunnlaugur M. Sigmundsson was elected Chairman of the Board and Einar Sveinsson Vice Chairman. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=314675&messageId=375250 Company Release Annual Financial Statement 699296

2009-03-03 15:01:41

Icelandair Group hf. Financial Statement Release CORRECTION: Annual Report 2008 -Published 2009-03-02 18:32:21 CET Correction: Change of category Attached is the Icelandair Group Annual Report 2008 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=314661&messageId=375231 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=215110 Company Release Company Announcement 699096

2009-03-02 18:32:21

Icelandair Group hf. Company Announcement Annual Report 2008 Attached is the Icelandair Group Annual Report 2008 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=314403&messageId=374886 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=214929 Company Release Minutes of extraordinary general meeting 699094

2009-03-02 18:26:37

Icelandair Group hf. Decisions of extraordinary general meeting Minutes from the AGM 2 March 2009 The following proposals have been approved by the Icelandair Group Annual General Meeting 2 March 2009. Proposals a) No dividends payments The Board of Directors proposes to the Annual General Meeting that no dividends will be paid in respect of profits for the year 2008. b) The Board of Directors proposes to the Annual General Meeting that the company will be authorized to purchase up to 10% treasury shares, with reference to Article 55 in Act No. 2/1995. The shares' purchase price may be up to 20% above the average sales price of shares on the Stock Exchange in the two weeks immediately preceding the purchasec) Decrease of remuneration to Board Members by 20% The Board of Directors proposes to the Annual General Meeting that remuneration to Board Members will be decreased by 20% so that each Board Member will receive ISK 160,000 per month, the Chairman of the Board of Directors will receive ISK 320,000 per month and Alternate Board Members will receive ISK 80,000 for each meeting attended. d) KPMG to be auditors The Board of Directors proposes to the Annual General Meeting that KPMG hf. should be the company's auditors. e) Remuneration Policy The Board of Directors proposes to the Annual General Meeting that the Remuneration Policy below shall be approved. Icelandair Group hf. Remuneration Policy Article 1 - Objective The objective of this Remuneration Policy is to make employment at Icelandair Group hf. an attractive option for first-class employees and thereby to secure for the Company a position in the front ranks. For this to be possible the Board of Directors of the Company must be able to offer competitive salaries and other payments, such as bonuses and options. Article 2 - Remuneration Committee The Remuneration Committee shall be composed of three members elected by the Board of Directors of the Company from their own number. The Committee will operate pursuant to specific terms of reference. The role of the Remuneration Committee is to provide guidance to the Board of Directors of the Company and executive management concerning the employment terms of the Company's key management staff and to provide advice on the Remuneration Policy. The Committee will also monitor that the remuneration of key management staff is within the framework of the Remuneration Policy and report to the Board of Directors annually on this subject in connection with the Company's Annual General Meeting. The rules of procedure of the Board shall provide further for the work of the Committee. Article 3 - Remuneration of Board members Members of the Board of Directors shall be paid a monthly remuneration in accordance with the decision of the Annual General Meeting each year, as provided in Article 79 of the Companies Act. The Board of Directors will submit a motion concerning the remuneration for the ensuing year of operation, taking account of the time spent by members on the work, the responsibility attached and the results of the Company. The remuneration of the Chairman of the Board shall be double the remuneration of other members of the Board. Alternate members shall receive a fixed remuneration for each meeting that they attend, with the remuneration decided at the Company's Annual General Meeting. The Company shall ensure that Board Members are not liable for claims that may be filed against them in terms of their work for the Company. No severance agreements are permitted with members of the Board. Article 4 - Remuneration of Chief Executive Officer A written employment contract shall be concluded with the Chief Executive Officer. The employment contract with the CEO may be renewed while it is still in effect. The amount of the basic salary and other payments to the CEO shall take account of the CEO's education, experience and former employment and shall always be competitive in the market that the Company acts in. Other terms of employment shall be as customary at comparable companies, e.g. as regards contributions to a pension fund, vacation, use of vehicle and notice period. The determination of the notice period in the employment contract may include special provisions concerning length of the notice period, taking into account the employment term of the CEO, up to a maximum of 24 months. Furthermore, the employment contract shall provide for the conditions for termination of the CEO's employment. The basic salary of the CEO shall be reviewed annually, taking into account the assessment by the Remuneration Committee of the CEO's performance, general remuneration terms in comparable companies and the Company's results. In the conclusion of an employment contract with the CEO it should be taken into account that there will be no payments at the end of employment other than those provided for in the employment contract. However, it is permitted under special conditions, at the discretion of the Remuneration Committee, to conclude a separate severance agreement at the end of the CEO's employment. Article 5 - Remuneration of vice-presidents The CEO will appoint vice-presidents within the Group in consultation with the Board Directors of the Company. The determination of the remuneration of the vice-presidents shall be subject to the same guidelines as those outlined in Article 4. Article 6 - Bonuses Key management staff of the Company may be paid bonuses in the form of cash or shares in the Company on the basis of plans decided by the Board of Directors of the Company. Bonuses shall be based on the performance of the employee in question, the results of the Company, important milestones in the Company's operation and business activities, including the attainment of established objectives. Bonuses may only be paid to persons who are actually working for the Company at the time of payment of the bonus. Article 7 - Options The Remuneration Committee may submit a proposal to the Board of Directors of the Company concerning stock options for key management staff in excess of options negotiated in the respective managers' employment contracts. In deciding whether to grant stock options to key managers account shall be taken of the position, responsibility, performance and future prospects of the manager in question within the Company. Furthermore, account shall be taken of similar agreements granted to the manager in question, whether or not the options have been exercised. A stock option is exercisable only when the party that has entered into such an agreement is working for the Company at the time that the stock option becomes effective. If the Board of Directors decides to grant stock options to company managers a plan for such stock options shall be submitted to the Annual General Meeting of the Company for approval or rejection. The Board of Directors shall provide at the meeting an account of the cost that may accrue to the Company from the stock option plan, if approved. Furthermore, the Company shall be permitted, directly or indirectly, to grant loans or provide guarantees in connection with the purchase by key managers of the Company or related companies of shares in the Company, whether such acquisitions are connected with the above stock option plans or other acquisitions by key managers of shares in the Company. Article 8 - Other employees In the determination of the wage terms of other employees, the vice-presidents of individual divisions shall take account of the above rules, as applicable. Article 9 - Disclosure requirements At Annual General Meetings the Board of Directors shall provide an account of the employment terms of the CEO, vice-presidents and members of the Board of Directors. Information shall be provided on the total amount of paid remuneration over the year, payments from other companies within the same Group, the amount of bonuses and stock options, other payments connected with shares in the Company, severance payments, if any, and the total amount of other payments. This Remuneration Policy shall be published on the Company's website. Article 10 - Approval of Remuneration Policy etc. The Company's Remuneration Policy shall be submitted for deliberation at the Annual General Meeting and submitted to review each year and placed before the Annual General Meeting for approval or rejection. The Remuneration Policy is binding for the Board of Directors of the Company as regards its provisions on stock option contracts and any contracts or payments that follow the trends of the price of stocks in the Company, as provided in Article 79 (a) of the Companies Act No. 2/1995. In other respects, the Remuneration Policy serves as a guideline for the Company and its Board of Directors. The Board of Directors shall enter into their records any significant deviations from the Remuneration Policy and the deviations shall be supported by clear reasoning. An account must be given of such deviations at the following Annual General Meeting of the Company. Explanatory notes with the Icelandair Group hf. Remuneration Policy Act No. 89/2006 amended the Companies Act with the addition of Article 79(a). The Article imposes the obligation on the Board of Directors of Icelandair Group to submit the Company's Remuneration Policy to the Annual General Meeting of the Company for approval or rejection. The Remuneration Policy must provide for the salaries and other payments to the Chief Executive Officer and other key managers of the Company, as well as its directors. The Act stipulates that the Remuneration Policy should disclose all principal aspects relating to managers and directors, as well as the policy of the Company with regard to contracts with managers and directors. Furthermore, the policy must reveal whether, and under what circumstances and within what framework, it is permitted to pay or remunerate managers and board members in addition to their basic salaries, e.g. in the form of transfers of shares, performance-linked payments, share certificates, call and put options, pre-emptive rights and other types of payments which are linked to shares in the Company, movements in the price of shares, loan agreements, pension agreements and severance agreements. The amendment was made in line with Commission Recommendation No 2004/913/EC of 14 December 2004 fostering an appropriate regime for the remuneration of directors of listed companies. The Board of Directors of Icelandair Group hf has the objective, in submitting this Remuneration Policy now before the Annual General Meeting of the Company, of establishing for the Company a reasonable Remuneration Policy that will make it possible for the Company to attract directors of the highest quality and thereby secure the Company's international competitive position. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=314346&messageId=374806 Company Release Notice to convene extr.general meeting 698223

2009-02-26 15:20:17

Icelandair Group hf. Notice to convene extr.general meeting - Annual General Meeting of Icelandair Group will be held 2 March 2009 The Annual General Meeting of Icelandair Group hf. will be held on Monday 2 March 2009 at the Hilton Reykjavik Nordica Hotel at 16:00. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=313692&messageId=373811 Company Release Notice to convene extr.general meeting 698147

2009-02-26 12:22:18

Icelandair Group hf. Notice to convene extr.general meeting - Annual general meeting - Agenda and proposals - AGM 2 March 2009 Agenda 1. Report of the Board of Directors on the activities of the company in 2008 2. The Annual Accounts of the company for 2008, including Auditors Report, submitted for confirmation 3. Disposal of the profit of the Company during the fiscal year, incl. dividends 4. Authorization to company to purchase treasury shares 5. Remuneration of the Board of Directors 6. Election of Board of Directors 7. Election of auditing firm 8. Remuneration policy 9. Any other lawfully submitted business Proposals a) No dividends payments (Item 3) The Board of Directors proposes to the Annual General Meeting that no dividends will be paid in respect of profits for the year 2008. b) Purchase of treasury shares (Item 4) The Board of Directors proposes to the Annual General Meeting that the company will be authorized to purchase up to 10% treasury shares, with reference to Article 55 in Act No. 2/1995. c) Decrease of remuneration to Board Members by 20% (Item 5) The Board of Directors proposes to the Annual General Meeting that remuneration to Board Members will be decreased by 20% so that each Board Member will receive ISK 160,000 per month, the Chairman of the Board of Directors will receive ISK 320,000 per month and Alternate Board Members will receive ISK 80,000 for each meeting attended. d) KPMG to be auditors (Item 7) The Board of Directors proposes to the Annual General Meeting that KPMG hf. should be the company's auditors. e) Remuneration Policy (Item 8) The Board of Directors proposes to the Annual General Meeting that the Remuneration Policy below shall be approved. Icelandair Group hf. Remuneration Policy Article 1 - Objective The objective of this Remuneration Policy is to make employment at Icelandair Group hf. an attractive option for first-class employees and thereby to secure for the Company a position in the front ranks. For this to be possible the Board of Directors of the Company must be able to offer competitive salaries and other payments, such as bonuses and options. Article 2 - Remuneration Committee The Remuneration Committee shall be composed of three members elected by the Board of Directors of the Company from their own number. The Committee will operate pursuant to specific terms of reference. The role of the Remuneration Committee is to provide guidance to the Board of Directors of the Company and executive management concerning the employment terms of the Company's key management staff and to provide advice on the Remuneration Policy. The Committee will also monitor that the remuneration of key management staff is within the framework of the Remuneration Policy and report to the Board of Directors annually on this subject in connection with the Company's Annual General Meeting. The rules of procedure of the Board shall provide further for the work of the Committee. Article 3 - Remuneration of Board members Members of the Board of Directors shall be paid a monthly remuneration in accordance with the decision of the Annual General Meeting each year, as provided in Article 79 of the Companies Act. The Board of Directors will submit a motion concerning the remuneration for the ensuing year of operation, taking account of the time spent by members on the work, the responsibility attached and the results of the Company. The remuneration of the Chairman of the Board shall be double the remuneration of other members of the Board. Alternate members shall receive a fixed remuneration for each meeting that they attend, with the remuneration decided at the Company's Annual General Meeting. The Company shall ensure that Board Members are not liable for claims that may be filed against them in terms of their work for the Company. No severance agreements are permitted with members of the Board. Article 4 - Remuneration of Chief Executive Officer A written employment contract shall be concluded with the Chief Executive Officer. The employment contract with the CEO may be renewed while it is still in effect. The amount of the basic salary and other payments to the CEO shall take account of the CEO's education, experience and former employment and shall always be competitive in the market that the Company acts in. Other terms of employment shall be as customary at comparable companies, e.g. as regards contributions to a pension fund, vacation, use of vehicle and notice period. The determination of the notice period in the employment contract may include special provisions concerning length of the notice period, taking into account the employment term of the CEO, up to a maximum of 24 months. Furthermore, the employment contract shall provide for the conditions for termination of the CEO's employment. The basic salary of the CEO shall be reviewed annually, taking into account the assessment by the Remuneration Committee of the CEO's performance, general remuneration terms in comparable companies and the Company's results. In the conclusion of an employment contract with the CEO it should be taken into account that there will be no payments at the end of employment other than those provided for in the employment contract. However, it is permitted under special conditions, at the discretion of the Remuneration Committee, to conclude a separate severance agreement at the end of the CEO's employment. Article 5 - Remuneration of vice-presidents The CEO will appoint vice-presidents within the Group in consultation with the Board Directors of the Company. The determination of the remuneration of the vice-presidents shall be subject to the same guidelines as those outlined in Article 4. Article 6 - Bonuses Key management staff of the Company may be paid bonuses in the form of cash or shares in the Company on the basis of plans decided by the Board of Directors of the Company. Bonuses shall be based on the performance of the employee in question, the results of the Company, important milestones in the Company's operation and business activities, including the attainment of established objectives. Bonuses may only be paid to persons who are actually working for the Company at the time of payment of the bonus. Article 7 - Options The Remuneration Committee may submit a proposal to the Board of Directors of the Company concerning stock options for key management staff in excess of options negotiated in the respective managers' employment contracts. In deciding whether to grant stock options to key managers account shall be taken of the position, responsibility, performance and future prospects of the manager in question within the Company. Furthermore, account shall be taken of similar agreements granted to the manager in question, whether or not the options have been exercised. A stock option is exercisable only when the party that has entered into such an agreement is working for the Company at the time that the stock option becomes effective. If the Board of Directors decides to grant stock options to company managers a plan for such stock options shall be submitted to the Annual General Meeting of the Company for approval or rejection. The Board of Directors shall provide at the meeting an account of the cost that may accrue to the Company from the stock option plan, if approved. Furthermore, the Company shall be permitted, directly or indirectly, to grant loans or provide guarantees in connection with the purchase by key managers of the Company or related companies of shares in the Company, whether such acquisitions are connected with the above stock option plans or other acquisitions by key managers of shares in the Company. Article 8 - Other employees In the determination of the wage terms of other employees, the vice-presidents of individual divisions shall take account of the above rules, as applicable. Article 9 - Disclosure requirements At Annual General Meetings the Board of Directors shall provide an account of the employment terms of the CEO, vice-presidents and members of the Board of Directors. Information shall be provided on the total amount of paid remuneration over the year, payments from other companies within the same Group, the amount of bonuses and stock options, other payments connected with shares in the Company, severance payments, if any, and the total amount of other payments. This Remuneration Policy shall be published on the Company's website. Article 10 - Approval of Remuneration Policy etc. The Company's Remuneration Policy shall be submitted for deliberation at the Annual General Meeting and submitted to review each year and placed before the Annual General Meeting for approval or rejection. The Remuneration Policy is binding for the Board of Directors of the Company as regards its provisions on stock option contracts and any contracts or payments that follow the trends of the price of stocks in the Company, as provided in Article 79 (a) of the Companies Act No. 2/1995. In other respects, the Remuneration Policy serves as a guideline for the Company and its Board of Directors. The Board of Directors shall enter into their records any significant deviations from the Remuneration Policy and the deviations shall be supported by clear reasoning. An account must be given of such deviations at the following Annual General Meeting of the Company. Explanatory notes with the Icelandair Group hf. Remuneration Policy Act No. 89/2006 amended the Companies Act with the addition of Article 79(a). The Article imposes the obligation on the Board of Directors of Icelandair Group to submit the Company's Remuneration Policy to the Annual General Meeting of the Company for approval or rejection. The Remuneration Policy must provide for the salaries and other payments to the Chief Executive Officer and other key managers of the Company, as well as its directors. The Act stipulates that the Remuneration Policy should disclose all principal aspects relating to managers and directors, as well as the policy of the Company with regard to contracts with managers and directors. Furthermore, the policy must reveal whether, and under what circumstances and within what framework, it is permitted to pay or remunerate managers and board members in addition to their basic salaries, e.g. in the form of transfers of shares, performance-linked payments, share certificates, call and put options, pre-emptive rights and other types of payments which are linked to shares in the Company, movements in the price of shares, loan agreements, pension agreements and severance agreements. The amendment was made in line with Commission Recommendation No 2004/913/EC of 14 December 2004 fostering an appropriate regime for the remuneration of directors of listed companies. The Board of Directors of Icelandair Group hf has the objective, in submitting this Remuneration Policy now before the Annual General Meeting of the Company, of establishing for the Company a reasonable Remuneration Policy that will make it possible for the Company to attract directors of the highest quality and thereby secure the Company's international competitive position. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=313626&messageId=373710 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=214122 Company Release Notice to convene extr.general meeting 698003

2009-02-25 18:07:09

Icelandair Group hf. Notice to convene extr.general meeting - Nominations to the Board of Directors The following individuals are the candidates for the Board of Directors of Icelandair Group hf. in the elections taking place in the Company's Annual General Meeting on March 2 2009. Board Members: Ásgeir Baldurs, kt.171172-5439, Lómasölum 13, Kópavogi Einar Sveinsson, kt. 030448-2789, Bakkaflöt 10, Garðabæ Finnur Reyr Stefánsson, kt: 141069-3659, Brekkuási 11, Garðabæ Friðrik Ásmundsson Brekkan, kt: 210451-5959, Hringbraut 75, Hafnarfirði Gunnlaugur M. Sigmundsson, kt. 300648-3719, Þverárseli 20, Reykjavík Martha Eiríksdóttir, kt. 251257-5159, Vesturbrún 33, Reykjavík Alternate Board Members: Jón Benediktsson, kt. 161064-3359, Hæðarbyggð 23, Garðabæ Ómar Benediktsson, kt. 221059-4689, Ægisíðu 58, Reykjavík Sigurður Atli Jónsson, kt.040268-5299, Ystaseli 19, Reykjavík Further information on the candidates for the Board of Directors will be available at Icelandair Group's headquarters at Reykjavik Airport. According to the Articles of Association of the Company, five Board Members shall be elected and three Alternate Board Members. Accordingly it is evident that it will be necessary to elect between the aforementioned candidates to the Board, but the Alternate Members will be chosen to the Board. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=313485&messageId=373528 Company Release Financial Calendar 697918

2009-02-25 14:14:03

Icelandair Group hf. Financial Calendar Financial Calendar 2009 Q1 Results- Week 19 2009 Q2 and H1 Results Week 32 2009 Q3 and 9M Results Week 45 2009 Annual Results 2009 Week 7 2010 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=313421&messageId=373435 Company Release Annual Financial Statement 697394

2009-02-23 11:07:48

Icelandair Group hf. Financial Statement Release Presentation Annual and Q4 results 2008 Attached is the presentation of the Icelandair Group Annual and Q4 results. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=312945&messageId=372811 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=213620 Company Release Annual Financial Statement 697275

2009-02-20 18:02:03

Icelandair Group hf. Financial Statement Release - Annual and fourth quarter 2008 Results Icelandair Group Annual Results 2008 -The total turnover was ISK 112.7 billion as compared to ISK 63.5 billion , increasing by 77% from the corresponding quarter of last year - EBITDAR was ISK 17.2 billion, as compared to ISK 11.1 billion in the corresponding period last year -EBITDA was ISK 4.8 billion, as compared to ISK 5.5 billion in the corresponding period of last year -Impairment of intangible assets was ISK 6.4 billion -EBIT was negative by ISK 5.7 billion, as compared to ISK 2.3 billion in the corresponding period of last year -Net loss after taxes was ISK 7.5 billion, as compared to a net profit of ISK 0.3 billion in 2007 -Total assets amounted to ISK 98.8 billion at year-end 2008, as compared to ISK 66.8 billion at year-end 2007 -The equity ratio was 20.3% at year-end 2008, as compared to 37.5% at the end of 2007 -Net cash from operations was ISK 2.9 billion at during 2008, as compared to ISK 3.9 in 2007 -Profits from the sales of aircraft amounted to ISK 0.2 billion, as compared to ISK 1.8 billion in 2007 Icelandair Group results for the fourth quarter of 2008 -Total turnover was ISK 28.3 billion, as compared to ISK 15.3 billion in the corresponding quarter last year, increasing by 85% from last year -EBITDAR was ISK 2.4 billion, as compared to ISK 2.1 billion in the corresponding quarter last year -EBITDA was negative by ISK 2.3 billion, as compared to ISK 0.5 billion in the corresponding quarter last year -Impairment of intangible assets was ISK 6.4 billion -EBIT was negative by ISK 10.0 billion, as compared to a negative EBIT of ISK 0.3 billion in the corresponding quarter of 2007 -Net loss after taxes 2008 was ISK 10.6 billion, as compared to a net loss of ISK 0.8 billion in the corresponding quarter of 2007 For further information, please contact: Björgólfur Jóhannsson CEO of Icelandair Group Tel.:+354-896-1455 Bogi Nils Bogason, Chief Financial Officer, Icelandair Group Tel.:+354-665-8802 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=312814&messageId=372638 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=213514 Company Release Financial Calendar 697156

2009-02-20 11:53:23

Icelandair Group hf. Financial Calendar Presentation of annual and fourth quarter results Icelandair Group will publish its fourth quarter and annual results for 2008 today Friday 20 February 2008. A presention of the results will be held on Monday 23 February 2009 at the Hilton Reykajvík Nordica at 8:30 but not today as previously announced https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=312725&messageId=372505 Company Release Financial Calendar 696273

2009-02-16 11:49:51

Icelandair Group hf. Financial Calendar Presentation of Icelandair Group fourth quarter and annual results 2008. Icelandair Group will publish its fourth quarter and annual results for 2008 on Friday 20 February. An open presentation will be held Friday 20 February at the Hilton Reykjavik Nordica (room-H). The presentation will start at 16:30. Icelandair Group Management will present the Company's results and answer questions. The presentation materials will be available after the meeting on the Icelandair Group Website: www.icelandairgroup.is https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=311699&messageId=371127 Company Release Company Announcement 692887

2009-01-26 15:21:34

Icelandair Group hf. Company Announcement Refinancing Agreement with New Glitnir As revealed in notices from Icelandair Group in connection with the publication of its interim financial statements in 2008, the Group had notes amounting to ISK 2.5 billion with payment due last 23 January. In co-operation with its partner bank, New Glitnir, Icelandair Group has completed its refinancing of the notes for the short term, i.e. for three months. Work has been in progress in recent weeks on restructuring the company's finances, with this work scheduled for completion within the next three months. The purpose of the restructuring is to bring the repayment schedule of the company's debts into line with its long-term payment capacity. For further information, please contact: Björgólfur Jóhannsson, CEO of Icelandair Group, tel.: 896-1455 Bogi Nils Bogason, Chief Financial Officer, Icelandair Group, tel.: 665-8801 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=308698&messageId=367064 Company Release Changes board/management/auditors 692177

2009-01-21 10:28:49

Icelandair Group hf. Changes board/management/auditors Omar Benediktsson new Managing Director of SmartLynx Omar Benediktsson has been appointed Managing Director of the charter airline SmartLynx in Latvia. He succeeds Mr.Eugene O'Reilly, who has served as Managing Director of SmartLynx on a temporary basis, and will now as planned return to his post as Assistant Managing Director of Icelease. Mr.O'Reilly has also been appointed to the Supervisory Board of SmartLynx. SmartLynx is an international charter airline, based in Riga, Latvia. Benediktsson brings with him valuable experience in the field of aviation. He has among other things served as CEO of Íslandsflug and Air Atlanta, and was among the key investors in these companies. He has been Vice Chariman of the Board of Directors of Icelandair Group for the past two years, but will leave the board at the next Annual General Meeting in March. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=308106&messageId=366233 Company Release Changes board/management/auditors 688386

2008-12-19 17:40:47

Icelandair Group hf. Changes board/management/auditors Managing Director of SmarLynx Eugene O' Reilly has been appointed managing director of SmartLynx, an Icelandair Group subsidiary in Latvia. He replaces Garðar Forberg, who has requested a leave of absence for personal reasons, following which he will return to duty within the Group. SmartLynx is an international charter and ACMI airline with headquarters in Riga, Latvia. Eugene has been working within Icelandair Group for the past two years as assistant Managing Director of Icelease, the aircraft trading branch of the Group. In 2001 Mr. O' Reilly joined Sojitz Aircraft Corporation, a Japanese aircraft lessor, as Senior Manager Marketing & Finance. In 1992 he joined Pegasus Airlines in Turkey as Assistant General Manager. Mr. O' Reilly obtained a BComm (Hons) degree in 1986. He then joined PriceWaterhouse and qualified as a Chartered Accountant in 1989. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=305001&messageId=361894 Company Release Insiders' dealing 688378

2008-12-19 17:37:23

Icelandair Group hf. Insiders' dealing Date of Transaction November 26 2008 Auðkenni útgefanda/Trade ticker: ICEAIR Nafn útgefanda/Issuer: Icelandair Group hf Dagsetning tilkynningar/Date of announcement 19. desember 2008 Nafn fjárhagslega tengds aðila sem á viðskipti/Name of related party trading the shares: Urður ehf. Nafn fruminnherja/Name primary insider: Ómar Benediktsson Tengsl fruminnherja við útgefanda/Insider's relation with the issuer: Varaformaður stjórnar Dagsetning viðskipta/Date of transaction: 26. nóvember 2008 Tímasetning viðskipta/Time of transaction: 16.20 Tegund fjármálagernings/Type of financial instrument: Hlutabréf Kaup eða sala/Buy or Sell: Sala ( veðkall ) Fjöldi hluta/Number of shares: 55.555.556 Verð pr. Hlut/Price per share: 13.1 Fjöldi hluta í eigu fruminnherja eftir viðskipti/Primary insider's holdings after the transaction: 0 Fjöldi hluta sem fruminnherji á kauprétt að/Primary insider's option holdings after the transaction: 0 Fjöldi hluta fjárhagslega tengdra aðila eftir viðskipti/Related parties' holdings after the transaction: 0 Dagsetning lokauppgjörs*/Date of settlement*: 0 Athugasemdir*/Comments*: Hlutirnir voru leystir til Sparisjóðabanka Íslands í kjölfar veðkalls á hendur fyrrverandi eiganda bréfanna/ The shares were acquired following a margin call on the former ownres. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=304970&messageId=361844 Company Release Major shareholder announcements 688375

2008-12-19 17:35:28

Icelandair Group hf. Major shareholder announcements Flagging Today, December 19th 2008, Icebank hf. has announced that the bank has 93.572.562 shares in Icelandair Group hf. which totals 9,36% of totalequity of Icelandair Group hf. Before the transaction the bank had 38.017.006 shares in Icelandair Group. Due to a margin call the bank acquired the shares from the former owners. Attached is the flagging form. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=304960&messageId=361830 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=208319 Company Release Company Announcement 685719

2008-12-05 10:52:56

Icelandair Group hf. Company Announcement Share Purchase Agreement Regarding Travel Service Icelandair Group has signed a share purchase agreement with its co-owners of the Czech airline, Travel Service a.s. , in which shareholding of Icelandair Group in Travel Service is reduced from 80% to 66% of total shares. Unimex Group and Roman Vik/GTO who before the agreement owned 20% of the shares of Travel Service will purchase an additional 14% and now hold 34% of the total shares. "With this agreement Icelandair Group is on one hand guaranteeing the financing of Travel Service and on the other hand solidifying the partnership with our co-owners, Unimex Group and Roman Vik, CEO of the company. Icelandair purchased 80% of Travel Service shares from them last year and the company became part of Icelandair Group in the second quarter of this year. It has grown rapidly, it's results have been very strong and its worth in our books has grown from the time of purchase. That, in addition to currency effects, will lead to a sale loss for Icelandair Group of approximately ISK 450 Million due to the agreement", says Björgólfur Jóhannsson, CEO of Icelandair Group. For further information, please contact: Björgólfur Jóhannsson CEO of Icelandair Group Tel.: 896-1455 Bogi Nils Bogason, Chief Financial Officer, Icelandair Group Tel.: 665-8802 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=302259&messageId=358164 Company Release Annual Financial Statement 681831

2008-11-12 12:28:24

Icelandair Group hf. Financial Statement Release -Presentation Q3 and 9M 2008 Attached is the prensentation of Icelandair Group Financial Results https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=298666&messageId=353221 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=204011 Company Release Annual Financial Statement 681730

2008-11-11 19:07:56

Icelandair Group hf. Financial Statement Release - Financial Results for third quarter and first 9 months 2008 Icelandair Group results for the third quarter of 2008 The total turnover of the Company was ISK 41.5 billion, increasing by 107% from the corresponding quarter of last year EBITDA was ISK 6.2 billion, as compared to ISK 3.7 billion in the corresponding period of last year EBIT was ISK 5.1 billion, as compared to ISK 2.8 billion in the corresponding period of last year Profit after taxes was ISK 4.4 billion, as compared to ISK 2.1 billion for the corresponding period of last year Net cash at the end of the quarter was ISK 7.4 billion, as compared to ISK 3.8 billion for the corresponding period of last year. Icelandair Group results for the first nine months of 2008 The total turnover of the Company was ISK 84.4 billion, increasing by 75% from the corresponding quarter of last year EBITDA was ISK 7.2 billion in 2008, as compared to ISK 5.0 billion in the corresponding period of last year EBIT was ISK 4.3 billion, as compared to ISK 2.6 billion in the corresponding period of last year Profit after taxes was ISK 3.1 billion, as compared to ISK 1.0 billion for the corresponding period of last year Total assets amounted to ISK 101.5 billion at the end of September 2008, as compared to ISK 66.8 billion at year-end 2007 The equity ratio was 33.1% at the end of the third quarter of 2008, as compared to 37.5% at the end of 2007 Net cash was ISK 9.3 billion, as compared to ISK 3.9 billion at the corresponding time last year. For further information, please contact: Björgólfur Jóhannsson CEO of Icelandair Group Tel.: 896-1455 Bogi Nils Bogason, Chief Financial Officer, Icelandair Group Tel.: 665-8802 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=298437&messageId=352912 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=203924 Company Release Company Announcement 680958

2008-11-06 16:07:56

Icelandair Group hf. Company Announcement Loftleidir Icelandic, a subsidiary of Icelandair Group, signs contracts worth 125 million USD Attached is the press release from Icelandair Group regarding the contracts. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=297813&messageId=352075 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=203498 Company Release Financial Calendar 680925

2008-11-06 14:46:54

Icelandair Group hf. Financial Calendar Presentation of Icelandair Group third quarter 2008 results Icelandair Group will publish its third quarter 2008 results on Tuesday 11 November 2008 after the closing of markets. An open presentation will be held Wednesday 12 November at the Hilton Reykjavik Nordica. The presentation will start at 8:30. Björgólfur Jóhannsson the CEO of Icelandair Group, will present the Company's results and answer questions. The presentation materials will be available after the meeting on the Icelandair Group Website: www.icelandairgroup.is https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=297785&messageId=352036 Company Release Company Announcement 680666

2008-11-05 17:37:05

Icelandair Group hf. Company Announcement Icelandair Group- a statement regarding the effect of the changes in the financial markets in Iceland. Upon request from the Icelandic Financial Supervisory Authority to all issuers of securites on the Iceland stock exchange regarding the publishing of a statement about the situation the companies due to the unusual circumstances Icelandair Group wants to state the following: Icelandair Group published on October 12th 2008 the following statement about the company‘s results, operations and future outlook. Attached is the press release from October 12th Further information: Björgólfur Jóhannsson, CEO of Icelandair Group tel: 354-896-1455 Bogi Nils Bogason CFO of Icelandair Group tel: 354-665-8001 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=297560&messageId=351723 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=203310 Company Release Financial Calendar 677431

2008-10-21 17:05:56

Icelandair Group hf. Financial Calendar Changes in publishing of Q3 results Icelandair Group will publish its financial statements for Q3 on Tuesday 11 November instead of Tuesday 18 November as previously announced. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=294544&messageId=347653 Company Release Annual Financial Statement 675914

2008-10-12 21:02:25

Icelandair Group hf. Financial Statement Release Financial Results First 8 months 2008 Due to extraordinary circumstances in the financial market in Iceland, the board of directors of Icelandair Group has approved to publish the following press release regarding an unaudited financial report and overview of the Group‘s operations for the first 8 months of the year 2008. Icelandair Group financial results for the first 8 months of 2008. • The total turnover of the Group is ISK 72 billion, an increase of 68% from the same time last year • EBITDA is ISK 6,3 billion, an increase of 43% from the same time last year • EBIT is ISK 3.9 billion, an increase of 58% from the same time last year • EBT is ISK 2,6 billion, an increase of 169% from the same time last year • Cash position at the end of August is ISK 6,7 billion Further information can be found in the attached press release. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=293104&messageId=345737 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=200346 Company Release Changes board/management/auditors 672635

2008-09-22 18:00:00

Icelandair Group hf. Changes board/management/auditors Bogi Nils Bogason Joins Icelandair Group as CFO Bogi Nils Bogason has been appointed Chief Financial Officer of Icelandair Group, starting October 10, 2008 Bogi Nils Bogason served as an auditor and partner at KPMG in Iceland during 1993-2004. He was CFO at Icelandic Group from 2004-2006 and CFO at Askar Capital from January 2007. Bogi Nils was born in 1969 and a holds a Cand Oecon degree in Business from the University of Iceland and became licensed as a chartered accountant in 1998. He is married to Björk Unnarsdóttur, nurse, and they have three children. Hlynur Elísson, who has been Icelandair Group's CFO, will take up another position within Icelandair Group. https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=290026&messageId=341604 Company Release Annual Financial Statement 667584

2008-08-19 20:10:06

Icelandair Group hf. Financial Statement Release CORRECTION: Icelandair Group second quarter and first half 2008 results Published: 2008-08-18 17:55:30 -- Changes is translation: "in irons" is taken out in the last sentence in the 3rd paragraph of the CEO's comment and replaced with "around breakeven" Icelandair Group results for the second quarter of 2008 •Better results than last year •Operations adapted to difficult external conditions •The total turnover of the Company in the second quarter of 2008 was ISK 29 billion, increasing by 79% from the corresponding quarter of last year •EBITDA was ISK 1.9 billion, as compared to ISK 1.3 billion in the corresponding period of last year •EBIT was ISK 901 million, as compared to ISK 636 in the corresponding period of last year •Profit after taxes amounted to ISK 395 million, as compared to ISK 205 million in the corresponding period of the preceding year •Assets amounted to ISK 89.8 billion in June 2008, as compared to ISK 66.8 billion at year-end 2007 •The Group equity ratio stood at 30% at the end of June 2008, as compared to 37% at the beginning of the year •EBITDAR for the second quarter of 2008 amounted to ISK 5.3 billion, as compared to ISK 2.6 billion in the second quarter of 2007. •The substantial increase in turnover is largely a result of the inclusion of Travel Service in the Group and the weakness of the Icelandic króna in relation to other currencies •The Group's responses to the difficult external operating climate have returned results, and work is continuing based on an action plan designed to adapt the Group's operations to difficult economic conditions and high fuel prices First half of the year 2008 •The total turnover of the Company was ISK 43 billion, increasing by 53% from the corresponding period of last year •Profit from sales of assets over the period was ISK 97 million, as compared to a ISK 1.3 billion profit from sales of assets over the corresponding period of last year •Net cash provided by operating activities amounted to ISK 7.6 billion in the first half of 2008, as compared to ISK 3.6 billion in the corresponding period of the preceding year •EBITDA was ISK 998 million, as compared to ISK 1.2 billion in the corresponding period of last year •EBIT was negative by ISK 762 million, as compared to a negative result of ISK 197 million in the corresponding period of last year •The net loss in the first half of 2008 amounted to ISK 1.3 billion, as compared to a loss of ISK 1 billion in the corresponding period of last year. •EBITDAR for the first half of 2008 amounted to ISK 6 billion, as compared to ISK 3.7 billion in the second quarter of 2007. Björgólfur Jóhannsson, CEO of Icelandair Group: “Icelandair Group's second-quarter results show an improvement compared to the same time last year, which is better than might have been anticipated in the difficult operating environment of the international aviation industry. Icelandair Group now operates on all continents with 75% of its operating revenues deriving from outside Iceland and only 25% from Iceland. The period was characterised by extensive growth, largely as a result of the addition of the Czech airline Travel Service to the Group. This is now the second largest subsidiary of Icelandair Group and showed good second-quarter results. Companies within the Group have responded to high fuel prices and dwindling demand through cost containment and income management. The operation of Icelandair, the Group's largest company, is around breakeven, but the company has launched efficiency measures which look promising. On the whole, we are witnessing positive results from the diversification of Icelandair Group and the improving cash position. Work is in progress pursuant to action plans in all companies and we have a solid team of dedicated employees who possess the skills to steer the company through the economic turbulence.” For further information, please contact: Björgólfur Jóhannsson CEO of Icelandair Group Tel.: 896-1455 Guðjón Arngrimsson, VP Corporate Communications Tel.: 864-5849 https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=285397&messageId=335181 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=194839 Company Release Annual Financial Statement 667481

2008-08-19 12:47:11

Icelandair Group hf. Financial Statement Release Presentation Q2 and First half 2008 Results Presentation Q2 and First half 2008 Results https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=285313&messageId=335061 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=194763