Icelandair Group hf. - Company Announcement

Icelandair adds two Boeing 757-200 aircraft to its fleet

Due to the expansion of Icelandair's route network the company will deploy 16
aircraft in its operations next summer, as compared to 14 aircraft in the
summer of 2011.  Contracts have been finalised for two Boeing 757-200 aircraft
that will join the Icelandair fleet in the coming months.  One of the aircraft
was purchased, while the other has been leased for a term of 20 months.  The
purchase price was paid for with Icelandair Group's own cash, and the purchase
price is confidential.  Both aircraft will undergo the usual modification
process by Icelandair to meet the company's standards prior to being taken into
use. They should be ready for use in Icelandair's route network next May. 



For further detailed information please contact:

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