Icelandair Q2 net profit rises 17%; downgrades outlook
Icelandair has reported a 2016 Q2 net income of US$26.2m, up 17% from a $22.4m profit in the year-ago period; however, the airline has downgraded its outlook because of market uncertainty triggered by Brexit and recent terrorist attacks. “The group’s operations over a challenging period were successful and we have never seen better Q2 results,” Icelandair president and CE Björgólfur Jóhannsson said, adding that this was partly because of the airline’s growth strategy. Q2 revenue rose 12.6% to $331.4m, while expenses increased 14.3% to $279m, producing an EBITDA operating profit of $52.4m, up 4.3% from a $50.3m operating profit in the prior-year quarter. International traffic rose 18% on a 7% increase in capacity to 3.7b ASKs, producing a load factor of 80.8%, down 1.5 points. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-07-29/unaligned/icelandair-q2-net-profit-rises-17-downgrades-outlook
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Icelandair Q2 net profit rises 17%; downgrades outlook
Icelandair has reported a 2016 Q2 net income of US$26.2m, up 17% from a $22.4m profit in the year-ago period; however, the airline has downgraded its outlook because of market uncertainty triggered by Brexit and recent terrorist attacks. “The group’s operations over a challenging period were successful and we have never seen better Q2 results,” Icelandair president and CE Björgólfur Jóhannsson said, adding that this was partly because of the airline’s growth strategy. Q2 revenue rose 12.6% to $331.4m, while expenses increased 14.3% to $279m, producing an EBITDA operating profit of $52.4m, up 4.3% from a $50.3m operating profit in the prior-year quarter. International traffic rose 18% on a 7% increase in capacity to 3.7b ASKs, producing a load factor of 80.8%, down 1.5 points. <br/>
