Icelandair Group hf. - Company Announcement

Traffic Data May 2011

Icelandair carried over half a million passengers in the first five months of
the year 

Icelandair carried 136 thousand passengers in May, an increase of 22% since
last year. The load factor was 77.2%.  The total number of passengers carried
by Icelandair in the first five months of 2011 was over half a million, an
increase by almost one hundred thousand passengers compared to the same period
2010. Air Iceland carried 28% more passenger in May 2011 than in May 2010,
which corresponds to the capacity increase since last year. Load factor was
63.6%. 

Sold block hours increased by 32% in May, due to more projects at Loftleidir.
Freight increased by 3% in May compared to last year, the main reason being
increased imports to Iceland. 

Please note that comparison between years is to some extent distorted, due to
the volcanic eruption in Eyjafjallajökull last year and in Grimsvotn this year. 



ICELANDAIR            MAY 11   MAY 10   CHG (%)   YTD 11     YTD 10     CHG (%) 
Number of Passengers  136,221  111,355       22%    509,023    416,780       22%
 (PAX)                                                                          
Load Factor (%)         77.2%    75.1%   2.1 ppt      74.5%      70.0%   4.5 ppt
Available Seat KM     493,443  397,146       24%  1,881,394  1,582,908       19%
 (ASK´000)                                                                      
AIR ICELAND           MAY 11   MAY 10   CHG (%)   YTD 11     YTD 10     CHG (%) 
Number of Passengers   26,716   20,837       28%    132,765    123,440        8%
 (PAX)                                                                          
Load Factor (%)         63.6%    63.7%  -0.1 ppt      67.4%      67.3%   0.1 ppt
Available Seat KM      13,765   10,789       28%     63,619     54,231       17%
 (ASK´000)                                                                      
CAPACITY              MAY 11   MAY 10   CHG (%)   YTD 11     YTD 10     CHG (%) 
Fleet Utilization      100.0%    98.3%   1.7 ppt      96.0%      91.2%   4.8 ppt
 (%)                                                                            
Sold Block Hours        3,237    2,458     31.7%     14,771     13,067     13.0%
ICELANDAIR CARGO      MAY 11   MAY 10   CHG (%)   YTD 11     YTD 10     CHG (%) 
Available Tonne KM     13,698   12,541        9%     58,793     55,333        6%
 (ATK´000)                                                                      
Freight Tonne KM        6,592    6,381        3%     30,728     30,506        1%
 (FTK´000)                                                                      
ICELANDAIR HOTELS     MAY 11   MAY 10   CHG (%)   YTD 11     YTD 10     CHG (%) 
Available Hotel Room   16,492   16,492        0%     80,332     80,092        0%
 Nights                                                                         
Sold Hotel Room        11,763   10,888        8%     47,069     47,016        0%
 Nights                                                                         
Utilization of Hotel    71.3%    66.0%   5.3 ppt      58.6%      58.7%  -0.1 ppt
 Rooms                                                                          



For further detailed information please contact:

Bogi Nils Bogason, CFO Icelandair Group tel: + 354 665-8801

Iris Hulda Thorisdottir, Director Investor Relations Icelandair Group tel: +
354 840-7010

Attachments:

Traffic Data May2011.pdf