Icelandair Q2 net profit falls to US$11.3m
Icelandair Group recorded a net profit of US$11.3m in Q2 2017, less than half of the $26.2m in net income earned in the year-ago quarter. The group, which includes hotels and tourism services as well as the airline, achieved the result on revenue of $368.9m, up 11% on the 2016 June quarter figure of $331.4m. Figures were not broken out to show details for the airline alone. A major reason for the drop in profits was a significant rise in staff costs, with salaries and related expenses climbing 39% year-over-year to $125.8m. Airline capacity rose 11% and load factor was a record 83.6%, up from 81.1% a year earlier. Slightly over half (54%) of the airline’s passengers are on transit flights through Iceland on transatlantic routes. Just 34% of the airline’s passengers terminate their flights in Iceland. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-08-01/unaligned/icelandair-q2-net-profit-falls-to-us-11.3m
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Icelandair Q2 net profit falls to US$11.3m
Icelandair Group recorded a net profit of US$11.3m in Q2 2017, less than half of the $26.2m in net income earned in the year-ago quarter. The group, which includes hotels and tourism services as well as the airline, achieved the result on revenue of $368.9m, up 11% on the 2016 June quarter figure of $331.4m. Figures were not broken out to show details for the airline alone. A major reason for the drop in profits was a significant rise in staff costs, with salaries and related expenses climbing 39% year-over-year to $125.8m. Airline capacity rose 11% and load factor was a record 83.6%, up from 81.1% a year earlier. Slightly over half (54%) of the airline’s passengers are on transit flights through Iceland on transatlantic routes. Just 34% of the airline’s passengers terminate their flights in Iceland. <br/>
