Icelandair Annual and Sustainability Report 2023

With Iceland as our hub and home, the heart of our business model is the international route network and the unique location of Iceland which serves as a connecting hub between Europe and North America. We serve four markets – to, from, via and within Iceland – and also run both cargo and aircraft leasing services that complement and further strengthen our core network operations.

It was an important milestone to turn a profit after taxes in 2023, which was the first year of normal operations following many challenging years. With our proven business model, great product offering and focus on the customer, extensive commercial infrastructure, robust financial position and outstanding team, we have a strong foundation to build on for further development in the years to come.

Based on a clear strategy that is driven by our vision of bringing the spirit of Iceland to the world and our mission of providing smooth and enjoyable journeys to, from via and within Iceland, the key strengths that underpin how we create value are the following.