Icelandair increased both revenue and profit in the second quarter, to levels that are the highest since 2016.
Sales rose 25.9 percent to $414.2 million (328.9).
EBITDA was $55.6 million (27.6), with an EBITDA margin of 13.4 percent (8.4).
Operating profit was $20.9 million (1.2), with an operating margin of 5.0 percent (0.4).
Profit after tax was $13.7 million (3.8). Earnings per share were $0.03 (0.02). Network capacity increased by 17 percent compared to the previous year and the number of passengers was up 19 percent to 1.2 million.
Demand was strong, especially on North American routes, where the load factor reached 86 percent, a record for this period.
Within freight, the situation was more challenging and Icelandair reported a loss for the area.
”"The outlook for the route network in 2023 is good, with strong bookings for the latter half of the year. Strong capacity increases in the market to and from Iceland and in the transatlantic market are expected to dampen revenue growth somewhat. Leasing is expected to deliver strong results in 2023, but cargo operations will remain challenging," the airline states.
Source: FinWire-DI.SE
