Icelandair has officially announced its performance results for the year of 2018, demonstrating that the Group has come out of a difficult and challenging year.
According to Bogi Nils Bogason, the increased competition from rivals, low fares and the common issue with rising fuel prices were all factors influencing the drop in profitability during the year.
In 2018, the carrier reported a total of $1,511 million in income or 7% more in comparison to 2017. The EBITA for Icelandair Group was $76.5 million, in contrast to $37.5 million recorded during the previous year.
The main mission for 2019 will be for the company to stabilize its financial performance and improve operations. Icelandair Group recently announced a complete shift of focus in 2019 and a number of internal changes related to the organizational structure of the business.