Icelandair Group hf. - Company Announcement

- Profit warning - EBITDA forecast raised to ISK 11.5 billion

Operations of Icelandair Group in the fourth quarter have been successful so
far, and booking status for the last few weeks of the year is promising.
Therefore the Board of Directors of the Group decided at a meeting today to
raise the EBITDA forecast for 2010 from ISK 10.5 billion to ISK 11.5 billion. 

For further  information, please contact:
Björgólfur Jóhannsson, President and CEO of Icelandair Group Tel.:+354-896-1455 
Bogi Nils Bogason, CFO of Icelandair Group		      Tel.:+354-665-8801