Icelandair Group hf. - Company Announcement

Decision on Secondary Listing on Oslo Børs Postponed Until Further Notice

On 3 February 2012 Icelandair Group hf. announced its plans to explore the
possibility of a secondary listing of the Company's shares on Oslo Børs. The
Company for this purpose engaged SEB Enskilda and Íslandsbanki hf. as managers
to assist the Company in the listing process. The preparation process for the
listing has gone well. 

The Company is in the process of clarifying issues relating to the currency
controls in Iceland. As this process has not yet been concluded the Board of
Directors of Icelandair Group has decided to postpone the possible secondary
listing until further notice. 



For further information, please contact:

Björgólfur Jóhannsson President and CEO, Icelandair Group, tel. +354-896-1455
Bogi Nils Bogason, CFO, Icelandair Group, tel. +354-665-8801