Icelandair Group results for the first quarter of 2009
* Results better than anticipated in spite of extremely challenging
operating environment
* Best performance of the Icelandic airline, Icelandair in the first
quarter since the company was organised in its present form
* Travel Service was not a part of Icelandair Group in the first quarter
of 2008
* The company‘s total turnover was ISK 20.7 billion, increasing by 48% from
the preceding year
* EBITDA was negative by ISK 2.3 billion, as compared to a negative result
of ISK 0.9 billion in the corresponding period of last year. Q1 plans
expected á negative EBITDA amounting to ISK 4,1 billion
* EBIT was negative by ISK 3.5 billion, as compared to a negative result of
ISK 1.7 billion for the corresponding period of last year
* Loss after taxes came to ISK 3.6 billion, as compared to ISK 1.7 billion
for the corresponding period of last year
* Cash at the end of the period amounted to ISK 2.8 billion, as compared to
ISK 3.3 billion at the end of the corresponding period of last year
* Assets amounted to ISK 98.1 billion at the end of March 2009, as compared
to ISK 98.9 billion at year-end 2008
* The equity ratio was 17.2% at the end of March 2009, down from 20.3% at
the end of 2008
* EBITDA for the whole year 2009 estimated to be approximately ISK 6 billion
