In March 2022, the total number of Icelandair passengers on international and domestic flights was around 184,000, compared to 24,000 in March 2021 and 125,000 in February 2022. The total capacity in March was 64% of March 2019 capacity levels up from 58% in February.
The total number of passengers on international flights was around 161,000 compared to around 8,000 in March 2021. The number of passengers to Iceland was around 92,000 and from Iceland around 34,000. Via passengers were around 35,000. On-time performance was 75%. The load factor on international flights was 74% compared to 28% in March 2021.
The number of passengers on domestic flights was around 23,000, compared to 16,000 last year. The load factor on domestic flights was around 83% compared to 63% in March 2021. The domestic operation has recovered well and year to date, the number of domestic passengers has increased by 24% compared to 2021.
Sold block hours in charter flights increased by 5% compared to March 2021. Freight measured in Freight Ton Kilometers was similar to what it was in March 2021.
Icelandair suspended its oil hedging activities during the Covid-19 pandemic given the extreme uncertainty surrounding its flight schedule. The lifting of previously wide-reaching restrictions on travel and gatherings has increased visibility and the Company has thus recently begun taking careful steps in rebuilding a modest hedging position. Current hedge levels equal 25% of the estimated consumption in Q2 at an average price of USD 663 per metric ton and 18% of the estimated consumption in Q3 at an average price of USD 934 per metric ton.
In January, Icelandair introduced an ambitious summer schedule. In March, flights were re-introduced to Glasgow, Denver and London Gatwick. In April, flights have started to Helsinki and Brussels, with Billund, Bergen and Minneapolis starting later this month. Hamburg, Milan, Portland, Raleigh-Durham, Baltimore, Vancouver, Geneva and Madrid will be added in May, and Montreal, Nice and Rome in July. The summer schedule is currently at around 85% of the 2019 production.
| Route Network | Mar 22 | Mar 21 | CHG (%) | YTD 22 | YTD 21 | CHG (%) |
| Number of Passengers | 183,968 | 23,993 | 667% | 421,978 | 66,231 | 537% |
| Load Factor | 73.7% | 31.3% | 42.3 ppt | 67.2% | 34.7% | 32.5 ppt |
| Available Seat KM (ASK´000,000) | 683.7 | 71.5 | 856% | 1,703.6 | 195.4 | 772% |
| Revenue Passenger KM (RPK´000,000) | 503.7 | 22.4 | 2147% | 1,144.3 | 67.8 | 1588% |
| INTERNATIONAL FLIGHTS | Mar 22 | Mar 21 | CHG (%) | YTD 22 | YTD 21 | CHG (%) |
| To market (passengers) | 91,563 | 4,312 | 2023% | 198,103 | 12,923 | 1433% |
| From market (passengers) | 34,474 | 3,305 | 943% | 84,672 | 10,812 | 683% |
| Via market (passengers) | 34,944 | 200 | 17372% | 87,496 | 797 | 10878% |
| Number of Passengers | 160,981 | 7,817 | 1959% | 370,271 | 24,532 | 1409% |
| Load Factor | 73.6% | 27.7% | 45.9 ppt | 67.0% | 31.6% | 35.4 ppt |
| Available Seat KM (ASK´000,000) | 676.0 | 64.2 | 953% | 1,685.7 | 176.5 | 855% |
| Revenue Passenger KM (RPK´000,000) | 497.3 | 17.8 | 2696% | 1,130.0 | 55.8 | 1924% |
| Stage length (KM) | 3,065 | 2,310 | 33% | 3,047 | 2,374 | 28% |
| On-Time-Performance (Arrivals) | 75.0% | 85.0% | -10.8 ppt | 71.8% | 86.0% | -14.2 ppt |
| DOMESTIC FLIGHTS | Mar 22 | Mar 21 | CHG (%) | YTD 22 | YTD 21 | CHG (%) |
| Number of Passengers | 22,987 | 16,176 | 42% | 51,707 | 41,699 | 24% |
| Load Factor | 82.9% | 63.2% | 19.7 ppt | 79.4% | 63.0% | 16.4 ppt |
| Available Seat KM (ASK´000,000) | 7.7 | 7.3 | 5% | 18.0 | 19.0 | -5% |
| Cargo & Leasing | Mar 22 | Mar 21 | CHG (%) | YTD 22 | YTD 21 | CHG (%) |
| Sold Block Hours - Leasing | 1,162 | 1,104 | 5% | 3,433 | 3,224 | 6% |
| Freight Tonne KM (FTK´000) | 12,950 | 12,924 | 0% | 33,739 | 33,694 | 0% |
| CO2 EMISSIONS | Mar 22 | Mar 21 | CHG (%) | YTD 22 | YTD 21 | CHG (%) |
| Total CO2 emissions tonnes | 52,338 | 13,745 | 281% | 133,279 | 36,027 | 270% |
| CO2 emissions per OTK | 0.83 | 2.04 | -59% | 0.91 | 1.59 | -43% |
Contact information:
Investors: Iris Hulda Thorisdottir, Director Investor Relations. E-mail: iris@icelandair.is
Media: Asdis Petursdottir, Director Communications. E-mail: asdis@icelandair.is
