[12] Another 727 was acquired in 1971, and the aircraft type was operated until 1990. The domestic Fokker F27s were replaced by Fokker 50s and Boeing 737s deployed on European routes. Both offer Europe to North America connections via their Reykjavik hub and both have grown rapidly (although Icelandair is slowing this year). The Investment Company Fons is owner of Sterling and Iceland Express. Icelandair's purchase of its low cost Icelandic competitor WOW air was a surprise, but reflects considerable industrial logic. [18] As a result, Loftleiðir ceased domestic flights in Iceland entirely, concentrating instead on international flights. [53], Operations have doubled over a five-year period. Icelandair Group‘s share offering that ended September 17 proved very successful. Its fleet renewal schedule has been … Company profile for Icelandair Group Hf. The exterior, which was hand-painted by a team of highly skilled airbrush artists from the UK, features artwork depicting an Icelandic winter scene complete with the Aurora Borealis. (the "Company") and its subsidiaries together referred to as the "Group". "[49] In October of the same year, the airline was awarded the title "Marketing Firm of the Year in Iceland", by a judging panel from IMARK, the Marketing Association in Iceland. Icelandair Group reaches tentative agreement to sell tour operator | News . In order to raise awareness about its stopover offer, the company launched a new social media initiative in 2014, with the hashtag #MyStopover. Icelandair merges Air Iceland Connect, to add B767-300(F)s 11.03.2021 - 13:00 UTC. statements of Icelandair Group hf. This feature is limited to our corporate solutions. [73] On 29 November, Icelandair abandoned this endeavour as the shareholders’ meeting pre-conditions were unlikely to be met. Two aircraft to be converted into freighters. have agreed on heads of terms regarding the sale of 100% stake in Iceland Travel.The proposed transaction is subject to customary conditions for transactions of this kind, such as due diligence, approval from The Competition Authorities and the parties reaching final terms of a share purchase agreement. Following the transaction, Icelandair Group will hold a 25% equity stake for a minimum of three years. [77], Icelandair offers three booking classes: Economy Light, Economy, and Saga Class (the last being equivalent to business class). After years of operating freighter aircraft as part of Icelandair, Icelandair Cargo was established as a separate entity in 2000. [24] In 1969 the company acquired International Air Bahama, a small airline operating Douglas DC-8 jet aircraft out of the Bahamas with transatlantic nonstop service between Nassau and Luxembourg,[25] and a year later Loftleiðir became one of the founders of Cargolux, a cargo airline. The Board of Directors accepted subscriptions for 30.3 billion and increased the offering size to a total of ISK 23 billion shares. All shares are of the same class and hold equal rights; each share has a nominal value of ISK 1 and carries one vote. International services stayed part of the business model of Flugfélag, though to a far lesser extent compared to Loftleiðir. You need at least a Single Account to use this feature. On 9 January 2018, Icelandair announced that it would provide three non-stop flights a week from Kansas City International Airport to Keflavík International Airport, which commenced on 25 May 2018. The in-house crisis management organization began assessing the situation once the scale of the problem had become known. Icelandair Group hf. In 1979, the two airlines Flugfélag Íslands and Loftleiðir merged into one airline Flugleiðir, and the airline was renamed Icelandair. Revenue of SAS Scandinavian Airlines 2009-2020, Number of passengers of Finnair 2010-2020, Passenger number of Norwegian Air Shuttle 2009-2019, Annual operating revenue of Norwegian Air Shuttle 2009-2019. [61] Services to Montreal Airport began on 26 May 2016. The Boeing 767 offer high passenger loads along with great cargo … ", Icelandair Group, Number of aircrafts in the Icelandair Group fleet from 2012 to 2020, by ownership Statista, https://www.statista.com/statistics/690687/aircraft-number-of-icelandair-group-by-ownership/ (last visited May 08, 2021), Number of aircrafts in the Icelandair Group fleet from 2012 to 2020, by ownership, Number of employees in the SAS Group 2020, by country, Number of SAS Scandinavian Airlines aircraft 2020, by type, Number of flights by SAS Scandinavian Airlines 2009-2020, Market share of SAS Scandinavian Airlines for Scandinavia flights 2009-2020, Number of passengers of SAS Scandinavian Airlines 2009-2020, Passenger load factor of SAS Scandinavian Airlines 2009-2020, Aircraft number of Norwegian Air Shuttle 2009-2019, Aircraft number of Norwegian Air Shuttle 2010-2021, by type, Load factor of Norwegian Air Shuttle 2009-2019, Employee number of the Icelandair Group 2012-2020, Aircraft number in the Icelandair Group fleet 2012-2020, Passenger number on international flights of the Icelandair Group 2012-2020, Passenger number on domestic/regional flights of the Icelandair Group 2012-2020, Passenger load factor of the Icelandair Group on international flights 2012-2020, Passenger shares of Icelandair to, from and via Iceland 2012-2020, Average number of employees of Finnair 2012-2020, Aircraft operated by Finnair 2020, by type, Passenger load factor of Finnair 2010-2020, Revenue of Atlantic Airways 2018, by type of service, Number of employees of Atlantic Airways 2012-2019, Number of aircraft and helicopters in the fleet of Atlantic Airways 2018, by type, Number of passengers of Atlantic Airways 2012-2019, by type, Load factor of Atlantic Airways 2012-2019, Number of employees of Air Greenland 2012-2019, Number of aircraft in the Air Greenland fleet 2019, by type, Kilometers flown by Air Greenland 2012-2019, Number of passengers of Air Greenland 2012-2019, Average passenger distance of SAS Scandinavian Airlines 2008-2018, Passenger number of Norwegian Air Shuttle quarterly 2014-2016, Available seat kilometers of Icelandair Group on international flights 2012-2020, Passenger load factor of the Icelandair Group on domestic/regional flights 2012-2020, Available seat kilometers of Icelandair Group on domestic/regional flights 2012-2020, Number of aircraft in the Widerøe fleet 2017, by type, Aircraft operated by Finnair 2020, by type and ownership, Operating revenue distribution of Norwegian Air Shuttle 2019, by activity, Breakdown share of Icelandair Group's cargo operation revenue 2012-2016, Routes number of Norwegian Air Shuttle 2006-2016, Destinations number of Norwegian Air Shuttle 2006-2016, Number of SAS Scandinavian Airlines aircraft 2020, by ownership, Sources of aircraft finance in the aviation industry 2016-2021, Total consolidated fleet of KLM Royal Dutch Airlines 2020, by type of airplane, Brazil: domestic airlines' fleet size 2017-2019, Monthly number of passengers of Lufthansa 2019-2020, Brazil: net profit of public air transport 2015-2018, by airline, Aircraft number of the Icelandair Group 2012-2020, by airline, Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. Most of the aircraft in Icelandair's fleet are named after Icelandic volcanoes. [46][47] Weekly newspaper The Economist claimed that Icelandair could even take advantage when catering for disaster tourists. As a Premium user you get access to the detailed source references and background information about this statistic. Media related to Icelandair at Wikimedia Commons, Latin America and the Caribbean regional office, Middle East and North Africa regional office, "Icelandair Celebrates the Addition of Its New Boeing 737 MAX and Inspires Passengers to Capture Stunning Aerial Shots From 22,000 Feet", "Catalina-flugbáturinn TF-ISP fór fyrsta millilandaflugið", "Stjórnklefi Gullfaxa varðveittur í Flugsafninu á Akureyri", "ss07130.jpg Grumman flugbátur Loftleiða 1946", "Hálf öld frá fyrsta flugi Loftleiða til Ameríku", "Frjáls verslun, 40. árgangur 1981, 4. tölublað", "FIMMTÍU ÁR FRÁ STOFNUN LOFTLEIÐA Stærsta ævintýri lýðveldisins Jakob F", "Sigurdur Helgason, 87, Airfare Pioneer, Dies", "Icelandair hafði áhrif á samband Hillary og Bill Clintons - Hitti Össur fyrir stundu í USA", "Frjáls verslun, 40. árgangur 1981, 9. tölublað", "Yrði ekki í fyrsta sinn - Viðskiptablaðið", "Rapid Growth in Icelandic Aviation Sector", "1.578 milljóna króna tap á fyrri árshelmingi", "Innanlandsflug Flugleiða verður sameinað Flugfélagi Norðurlands undir nafninu", "Presentation of the measure taken by Icelandair to cope with the 2010 air travel disruptions", "Icelandair and the Eyjafjallajökull volcanic eruption in 2010", "Icelandair shifts volcano-hit hub operation back to Reykjavik", "Iceland continues to inspire with successful tourism campaign", "Inspired by Iceland campaign continues to boost tourism in Iceland", "UK 'better prepared' for volcanic ash than last year", "Flights cancelled as ash cloud heads towards UK", "Icelandair hlaut Þekkingarverðlaunin 2011 - Fréttir - Samtök atvinnulífsins", "Icelandair Announces Flights from Washington, D.C", "Flug Icelandair frá Akureyri hefst í dag", "Icelandair Announces Growth Plans for 2014 - Icelandair", "Icelandair to fly from Birmingham to Iceland, USA and Canada", "Icelandair Group announces continued growth in international flights for 2015", "Icelandair Announces Service from Chicago O'Hare - Icelandair.us", "Icelandair Introduces Service to Aberdeen, Scotland - Icelandair.us", "Icelandair Adds Flights to Paris Orly Airport - Icelandair.us", "Icelandair to launch seasonal service from Montreal in May", "Icelandair Is Now Taking Off From Philadelphia and Tampa", "Icelandair to connect Cleveland to Europe", "Explore Iceland on an Icelandair Stopover - Icelandair", "Loftleidir Icelandic enters into management agreement in Cabo Verde - Icelandairgroup.is", "Loftleidir Icelandic outlines plans for TACV Cape Verde", "Icelandair announces service to Kansas City International Airport (MCI) - Icelandair", "Icelandair Announces Service from Dallas Fort Worth - Icelandair", "Icelandair closes Dallas bookings from March 2019", "Icelandair Group to take over budget rival Wow Air", "Icelandair Group scraps Wow Air takeover", "Icelandair Group hf. The settlement included reducing the carrier's order for future MAX aircraft by four.[115]. He was the CFO of Askar Capital from January 2007 until he joined Icelandair Group and the CFO of Icelandic Group from 2004-2006. Biophilia, Björk's 2011 album, had earlier been released on Icelandair's fleet in the same way. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook Profit from additional features by authenticating your Admin account. Passenger count topped one million in 1997[34] as the company's business grew on a reputation as a "backpacker airline", similar to Loftleiðir, which had been referred to as "Hippie Airline" since the late 1960s. [49] In both categories the panel of judges of the Association of Economists and Business Graduates in Iceland said that "the fine results of the company in the previous year showed both a high degree of skill and specialist knowledge within the company as well as excellent leadership. has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions. On 22 January 2020 Icelandair announced that the airline would lease three Boeing 737-800 airliners to enter service from spring 2020. [16], By 1952, the Icelandic authorities were very worried that fierce competition between both Icelandic airlines would ruin both companies, and attempted to force a merger between them. (February 8, 2021). [106] During that same year, Icelandair announced an order for two Boeing 787 Dreamliners. [92], In 2005, the airline, on behalf of its parent company Icelandair Group, announced an order for ten Boeing 737-800 aircraft with options for five more. He is also on the board of Fjárvakur–Icelandair Shared Services ehf. Ownership Breakdown. [66], Since the 1960s, Icelandair has offered passengers travelling on transatlantic flights between North America and Europe an opportunity to stopover in Iceland for up to seven days, at no additional cost. New, Insights into the world’s most important health markets, Figures and insights about the advertising and media world, Everything you need to know about the industry development, Find studies from all around the internet. A proposal to grant the Board authorization to increase the Company’s share capital Agenda. [30] In 1975, the Icelandic government provided a $13.5 million loan to Flugleiðir. Bogi Nils holds a Cand Oecon degree in … including key executives, insider trading, ownership, revenue and average growth rates. You need a Single Account for unlimited access. The special livery was created in order to commemorate Icelandair's 80th anniversary. When Loftleiðir pulled out of the domestic market in 1952 to fully concentrate on international flights, Flugfélag became the main domestic carrier of the country. The airline uses available space in the baggage compartments of Icelandair's passenger aircraft, as well as operating two Boeing 757 freighters between New York (US), Halifax (CA), East Midlands (UK), Liège (Belgium) and its base at Keflavík International Airport. [57] On 19 May 2015, Icelandair launched scheduled flights to and from Portland, Oregon in the US: its 14th destination in North America. Icelandair Group hf. In 1948, the Douglas DC-4 was introduced on those routes, and in 1957 two new Vickers 759 Viscounts were acquired, the first turboprop airliners to be operated by an Icelandic airline. Currently, Bogi Nils Bogason holds the position of President & Chief Executive Officer for Icelandair Group hf. The third aircraft (Boeing B757 TF-ISX 'Þingvellir') is painted in the red, white, and blue livery of Iceland's flag and celebrates both the 100th anniversary of Icelandic National Sovereignty (1918-2018) and the National Men's Football Team's World Cup debut in 2018. Safran eyes interiors rebound after sluggish start to year | News ‘No phones, just a bucket and spade’ – writers including Stanley Johnson recall childhood summer … In the aftermath of the eruption, the government of Iceland launched the successful[42][43][44] "Inspired by Iceland" campaign to regain confidence in travelling to Iceland for tourists and business people,[45] of which Icelandair was a leading participant and initiator. The order is for nine 737 MAX 8s configured for 153 passengers; and seven 737 MAX 9s to hold 172 passengers. [31], The aircraft fleet of Icelandair remained mainly unchanged until the Boeing 757-200 became the new backbone for transatlantic flights during the 1990s. [82][83], Special assistance is provided for travelling with pets,[84] young travellers and infants,[81][85] and special service, for example for blind people with seeing-eye dogs, expectant mothers, wheelchair service, POC systems.[86]. Two depict the natural beauty of Iceland, one showcasing the largest glacier in Europe: Vatnajökull, as well as celebrating the independence of Iceland for 100 years, while the other highlights the Aurora Borealis (Northern Lights), also being part of Icelandair's #IcelandStopover campaign. Icelandair Group is to sell three of its Boeing 757-200s, which will be converted into freighters following the transaction. But as Icelandair Group hf. Icelandair Group Reykjavík Airport 101 Reykjavík Iceland Id no: 631205-1780 Tel: +354 50 50 300 Fax: +354 50 50 389 [52] Also in 2012, Icelandair resumed domestic services, with regular flights linking Akureyri to its Keflavík hub through subsidiary company Air Iceland. Register in seconds and access exclusive features. Icelandair codeshares with the following airlines:[91], As of March 2021[update], Icelandair operates a fleet of Boeing and Bombardier aircraft. The condensed consolidated interim financial statements for the six months ended 30 June 2018 have been The proposed transaction is subject to customary conditions for transactions of this kind, such as due diligence, approval from The Competition Authorities and the parties reaching final terms of a share purchase agreement. When a merger proposal of the Icelandic government was rejected by the two airlines, the domestic routes were split among them as a measure to ease competition. In the same year, it was begun to dismantle the Luxemburg hub in favor of today's decentralized European network, linking the largest cities non-stop to Reykjavík,[35] closing it down altogether by 1999.[36]. You can only download this statistic as a Premium user. ... Low ownership cost is beneficial during the low season and to maintain fleet size flexibility. The Geneva service started on 24 May 2014 and continued twice weekly until September. New ownership and more focus on investment activity 2005 Flugleiðir becomes investment company FL Group, and Icelandair Group formed as its “Iceland” aviation part 2006 Icelandair Group sold to new owners and listed on the NASDAQ OMX Iceland 2007-8 Growth in charter and leasing activity, change of management, job cuts and cost savings 1930 1940 1950 1960 1970 1980 [19] In a way, Loftleiðir can even be considered a sort of precursor of the low-cost carriers that started popping up all over the globe in the 1970s, in particular the long-haul budget carrier like Norwegian Air Shuttle. RÚV reports that the 20 largest shareholders hold a smaller percentage of shares in the company than before the offering. The festival spans five days (Wednesday–Sunday) and its main focus is showcasing new music, both Icelandic and international. [113] The aircraft will be dry leased and flown by Icelandair pilots. In 1980, the Icelandic government provided a loan to Icelandair due to the company's bad financial situation. New destinations in 2014 were Edmonton and Vancouver in Canada; and Geneva. The decision is made in line with Icelandair Group’s strategy to focus on its flight operations, its core business. Also in 1970, Loftleiðir entered the jet age with its first two Douglas DC-8 aircraft. Marketline's Icelandair Group Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Icelandair Group since January2007. Then you can access your favorite statistics via the star in the header. Icelandair Group has decided to initiate a process to sell its subsidiary Iceland Travel (the “company”). [107] In 2006, Icelandair announced an order for two more Boeing 787s. During the sales process, the objective will be to maximize the value of the company, while at the same time preserving the interests of Icelandic tourism, the company’s employees and … Another company, Loftleiðir, called Icelandic Airlines internationally, had been formed in 1944 by three young pilots returning from their flight training in Canada. Regular flights to Prestwick Airport in Scotland and Copenhagen in Denmark, using Consolidated B-24 Liberator aircraft leased from Scottish Airlines were launched in 1946.[7]. [87], Icelandair's frequent-flyer program is Saga Club, a program where members can earn Saga points for traveling on Icelandair or partner airlines, and redeem points toward travel or Saga Shop inflight purchases. Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 423%. The new service, operated by Air Iceland Connect (a subsidiary of Icelandair Group), commenced in March the following year, with flights scheduled four times per week. [104] Those options were later exercised. February 8, 2021. First published in 2008, it is also the product catalogue for the airline's Saga Shop. From 2001, the Icelandair hub was moved to Keflavík International Airport. is an Icelandic travel industry corporation, the owner and holding company of the airline Icelandair and several other travel industry companies in Iceland. Icelandic pension fund Gildi has become the largest shareholder in Icelandair Group following the company’s public share offering that took place last week. Election of chair and the secretary of the meeting 3. [70], Icelandair commenced four weekly flights to and from Dallas Ft. Worth on 30 May 2018. Decisions regarding airports and tourists will be made based on health recommendations – Minister of Tourism . Bogi Nils was appointed CEO of Icelandair Group in December 2018 after having served as the Chief Financial Officer since 2008. Altogether, Icelandair operates a sum total of 1,811 hotel rooms all over Iceland, with more still to be added. [71][72], On 5 November 2018, Icelandair announced plans to take over its low-cost competitor, WOW air, with the two airlines to be operated as separate brands. [127] During the 1970s energy crisis, the economic situation for both Flugfélag and Loftleiðir worsened. (212) 419-8286 The management and operation of the companies will be combined. In the same year, comfort and performance of domestic flights in Iceland could be improved with the introduction of the Douglas DC-3. [13] In 2008, the cockpit section of Gullfaxi was put on display at the Akureyri Aviation Museum.[14]. [56], On 5 February 2015, Birmingham became Icelandair's 5th gateway in the UK, and the 39th overall, with flights operating twice weekly, on Thursdays and Mondays. [39] Thrice-daily crisis meetings were held at the airline's headquarters. [63], In May 2017, Icelandair unveiled a glacier-themed special livery on Boeing 757-200 (registration TF-FIR) named Vatnajökull, the name of Europe's largest glacier. Icelandair is the flag carrier airline of Iceland, headquartered at Keflavík International Airport near the capital city Reykjavik. Loftleiðir began scheduled international operations in 1947. The government of Iceland initiated a new attempt to merge the two airlines, which could be realized in 1973 following lengthy and difficult negotiations. Other, smaller Icelandic pension funds also hold shares in the company. The ideal entry-level account for individual users. [75] In addition the Icelandic government decided to guarantee a line of credit for Icelandair. Show publisher information. Iceland’s two state-owned banks, Íslandsbanki and Landsbankinn, together have an 11% share in the company. : Government Guaranteed Credit Facility Approved by the Icelandic Government", "Surprising: Icelandair Is Eliminating Economy Comfort - One Mile at a Time", "Icelandair Selects Row 44 To Provide Fleet Wide... -- REYKJAVIK, Iceland and WESTLAKE VILLAGE, Calif., 31 May 2012 /PRNewswire/ --", "Sigur Rós debuts Valtari exclusively on board Icelandair", "Icelandair - Flights to Iceland & Europe via Reykjavik, cheap flights with Icelandair", "Saga Points - Earn Frequent Flyer Points with Saga Club | Icelandair", "Icelandair Group and Boeing finalize orders for 737 MAX", "Boeing Commercial Airplanes – Orders and Deliveries – 737 Model Summary", "Icelandair outlines 737MAX 8 routes in S18", "Icelandair's first 737 Max 9 arrives, leased from BOC", "The jets were 36 last year, now 2-3 are enough to transport the passengers", "Two Icelandair 767s to be converted to freighters in leaseback deal", "Kaupa fimm nýjar Boeing 737-800 flugvélar til viðbótar", "FL Group leigir Air China fimm Boeing-velar", "Boeing: Icelandair Orders Two Boeing 787 Dreamliners", "UPDATE 1-Icelandair Says No Plans To Cancel Boeing Orders", "Icelandair To Transfer Purchase Rights on Three 787s to Norwegian", "Vísir - Icelandair gengur frá kaupum á sextán 737 MAX flugvélum frá Boeing", "Icelandair Statement on Boeing 737 MAX Operations", "Icelandair Leases Boeing 737s As MAX Crisis Drags On", "Icelandair Received Settlement and Cuts MAX Orders", "Meet the Þingvellir Sovereignty Aircraft | Icelandair", "N17011 Continental Air Lines Boeing 747-100", "Icelandair Cargo takes two new cargo planes into operation", "ASN Aircraft accident Douglas C-47A-25-DK TF-ISI Hjedinsfjordur", "ASN Aircraft accident Douglas C-47A-10-DK TF-ISG Hafnarfjördur", "ASN Aircraft accident Fokker F-27 Friendship 300 TF-FIL Vagar, Faroe Islands", "Official investigation report into Flight 001", "ASN Aircraft accident Boeing 757-256 (WL) TF-FIA Keflavík International Airport (KEF)", https://en.wikipedia.org/w/index.php?title=Icelandair&oldid=1021758171, Articles with dead external links from November 2017, Articles with permanently dead external links, Articles with unsourced statements from August 2015, Articles containing potentially dated statements from March 2021, All articles containing potentially dated statements, Official website different in Wikidata and Wikipedia, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License. Complained that Flugfélag, although smaller, had gained the upper hand in the united company part of the in! Is provided for the first few years on display at the Akureyri Aviation Museum. [ 115 ] consists. [ 53 ], Icelandair Group reaches tentative agreement to sell tour |. Leased to other airlines 54 ], Icelandair Group is to sell its subsidiary Iceland travel crisis. Domestic flights in Iceland travel capital city Reykjavik least a single Waco YKS-7 configured as a floatplane Edmonton started 24. Economic situation for both Flugfélag and Loftleiðir merged into one airline Flugleiðir, and then a Grumman [. Aviation corporation Icelandair Group has decided to guarantee a line of credit for Icelandair %! And performance of domestic flights in Iceland travel other, smaller Icelandic pension funds also hold shares the...: Icelandair, is printed four times a week the North-Atlantic then commenced in 1953 [... 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