Icelandair Group hf. - Changes in company's own shares

Transactions in relation to share repurchase program - week 9 2017

In Week 9 2017, Icelandair Group hf. (The “Company”) purchased 16,335,878 of
its own shares. The total purchase price is ISK 246,387,551, as detailed below: 



                  Own shares at the beginning of period               36,000,000
                  Purchased at nominal value in week 9                16,335,878
                  Total turnover in week 9                           246,387,551
                                                                                
                                                                                
Date       Time        No. of shares  Shareprice    Turnover   No. of own shares
                              bought                                   after the
                                                                     transaction
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27/2/2017  09:49           1,000,000       15.50  15,500,000          37,000,000
27/2/2017  10:14           1,000,000       15.25  15,250,000          38,000,000
27/2/2017  10:20           1,000,000       15.10  15,100,000          39,000,000
27/2/2017  10:42           1,000,000       15.00  15,000,000          40,000,000
27/2/2017  14:50             670,000       15.10  10,117,000          40,670,000
28/2/2017  14:33           1,000,000       15.15  15,150,000          41,670,000
28/2/2017  15:18             145,000       14.91   2,161,950          41,815,000
1/3/2017   09:39             995,500       14.90  14,832,950          42,810,500
1/3/2017   11:36           1,000,000       14.85  14,850,000          43,810,500
1/3/2017   14:38           1,004,500       14.81  14,876,645          44,815,000
2/3/2017   10:17           1,000,000       15.00  15,000,000          45,815,000
2/3/2017   13:12              83,352       14.86   1,238,611          45,898,352
2/3/2017   14:56             500,000       15.00   7,500,000          46,398,352
2/3/2017   15:13           2,000,000       14.98  29,960,000          48,398,352
3/3/2017   11:26             437,526       15.20   6,650,395          48,835,878
3/3/2017   11:26             500,000       15.20   7,600,000          49,335,878
3/3/2017   11:26           1,000,000       15.20  15,200,000          50,335,878
3/3/2017   12:07           1,000,000       15.20  15,200,000          51,335,878
3/3/2017   12:14           1,000,000       15.20  15,200,000          52,335,878
--------------------------------------------------------------------------------



Prior to the aforementioned share repurchase, the Company owned 36,000,000 of
its own shares but now owns 52,335,878 of its own shares, corresponding to
1.05% of the Company‘s total share capital. 

The trade is in accordance with a share repurchase program authorized by the
Annual General Meeting on the 10th of March 2016 and has been put in motion
according to an announcement published in NASDAQ Iceland on the 20th of
February 2017. 

Icelandair Group hf. has acquired 27,335,878 of its own shares under the
program which corresponds to 0.55% of the total share capital and the total
value of repurchased shares amounts to ISK 423,041,952. According to the
program, The Company may not purchase more than 114,000,000 of its own shares,
corresponding to 2.28% of the total share capital. The total consideration for
shares under the program shall not exceed ISK 1,700 million. The share
repurchase program is valid until September 8th 2017 or until the total allowed
amount of shares are purchased by the Company, whichever happens first. 

The share repurchase program is executed in accordance with Chapter VIII. of
Act No. 2/1995 on Public Limited Companies and Chapter II of the Annex to
Regulation No. 630/2005 on Inside Information and Market Abuse, with later
amendments. 



For further information, please contact:

Bogi Nils Bogason, CFO
bogi@icelandairgroup.is
Tel: +354 665 8801