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