Key Developments: Icelandair Group hf. (ICEAIR.IC)

ICEAIR.IC on Iceland Stock Exchange

17.65ISK
16 Apr 2014
Price Change (% chg)

0.10 kr (+0.57%)
Prev Close
17.55 kr
Open
17.60 kr
Day's High
17.75 kr
Day's Low
17.60 kr
Volume
4,131,140
Avg. Vol
20,496,270
52-wk High
20.00 kr
52-wk Low
11.57 kr

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Latest Key Developments (Source: Significant Developments)

Icelandair Group issues FY 2014 EBITDA guidance and proposes dividend of ISK 0.43 to be paid in 2014
Friday, 7 Feb 2014 04:52am EST 

Icelandair Group hf:Forecasts EBITDA as percentage of total revenue to be 13.0-13.5 percent in FY 2014, compared to 14.0 percent in 2013.Says main reasons for lower EBITDA ratio are increased competition affecting yields, rising fuel prices, expected currency development and general cost increases.Proposes to pay 30 percent of comprehensive income as dividend in 2014.Says the dividend would be in total 2,150 million Icelandic crowns ($18.6 million), corresponding to 0.43 Icelandic crowns per share.  Full Article

Icelandair Group announces decision of the Director of Internal Revenue
Thursday, 19 Dec 2013 11:35am EST 

Icelandair Group hf:Says has received a decision of the Director of Internal Revenue.Says the decision decreases Icelandair Group’s expensed financial costs for the tax payment years of 2008-2012 with reference to a court verdict by the Supreme Court of Iceland in case no. 555/2012 from Feb. 28 (Toyota a Islandi ehf. v. Iceland).Says this will decrease Icelandair Group’s transferable losses by up to 6.4 billion Icelandic crowns.Says the company’s equity can decrease by up to 1.3 billion Icelandic crowns ($11.1 million) if the case will be lost before the Icelandic courts.Says the management of Icelandair disagrees with the decision and will refer it to the Internal Revenue Board.  Full Article

Icelandair Group hf Comments on FY 2013 EBITDA Guidance
Thursday, 31 Oct 2013 12:48pm EDT 

Icelandair Group hf announced that the Company expects to report EBITDA of between USD 140 million and USD 145 million for the fiscal year 2013.  Full Article

Icelandair Group hf Announces New Destinations in Canada
Tuesday, 3 Sep 2013 12:08pm EDT 

Icelandair Group hf. announced that the Company is implementing new air traffic agreement between Iceland and Canada. The three new destinations are Edmonton, Vancouver and Geneva. Flights to Edmonton, capital of Alberta, will start on March 26 and continue until January 2015, four times a week. The Company is aiming for a full year service to the city. The Vancouver twice weekly flights start on May 13 and continue until October 12. The Geneva service starts on May 24 and continues twice weekly until September 23.  Full Article

Icelandair Group hf's Icelandair Hotels Opens New Hotel in Downtown Reykjavik
Thursday, 1 Aug 2013 04:07am EDT 

Icelandair Group hf announced that the Icelandair Hotels, a subsidiary of the Company, is to open a new hotel in the center of Reykjavik in the summer of 2015. The name of the hotel will be Icelandair Hotel Reykjavik Cultura. The hotel will be located in the so called Hljomalind Spot and will contain 142 rooms along with facilities for both indoor and outdoor restaurants. The project will be implemented in cooperation between Icelandair Hotels and Thingvangur, which is the owner of the site and will be in charge of the constructions. Icelandair Hotels will lease the hotel facility for 25 years.  Full Article

Icelandair Group hf. Raises FY 2013 EBITDA Guidance
Wednesday, 31 Jul 2013 12:11pm EDT 

Icelandair Group hf. announced that due to successful operations during H1 2013, favorable external trends and lower than expected fuel prices, the Company has decided to adjust its fiscal year 2013 EBITDA guidance. The Company's fiscal year 2013 EBITDA is now projected to be in the range of USD 140-145 million. Previously, the Company estimated the result to be in the range of USD 122-127 million.  Full Article

Icelandair Group hf And Porter Airlines Sign Interline Agreement-DJ
Wednesday, 17 Jul 2013 07:31am EDT 

Dow Jones reported that Icelandair Group hf and Porter Airlines have signed an interline agreement that will benefit passengers connecting between North America and more than 20 Icelandair destinations throughout Europe. Effective immediately, passengers can book a single combined e-ticket for Porter Airlines and Icelandair flights, including the convenience of checking baggage through to the final destination. Connections from more than 10 Canadian gateways are now available between airlines in Halifax, Boston, Washington-Dulles and New York-Newark.  Full Article

Icelandair Group hf Raises FY 2013 EBITDA Guidance
Tuesday, 30 Apr 2013 02:18pm EDT 

Icelandair Group hf announced that it expects to report EBITDA of between USD 122 million and USD 127 million for the fiscal year 2013. Previously, the Company expected EBITDA of between USD 115 million and USD 120 million for the fiscal year 2013.  Full Article

Icelandair Group hf and Westjet Airlines Ltd Sign Cooperation Agreement-DJ
Wednesday, 17 Apr 2013 11:07am EDT 

Dow Jones reported that Icelandair Group hf and Westjet Airlines Ltd have launched a new interline agreement that allows to book a single combined e-ticket for WestJet and Icelandair flights which includes the conveniences of single check-in for all flights and baggage sent through to the final destination.  Full Article

Icelandair Group hf Purchases Two Boeing 757 200 Aircraft
Tuesday, 9 Apr 2013 02:49pm EDT 

Icelandair Group hf announced that it has purchased two Boeing 757 200 aircraft which the Group previously had on a long term lease. The purchase price is confidential. The two aircraft have been used in charter projects and they will continue to operate as such. Icelandair Group also sees opportunities to use the aircraft later in its international scheduled operations.  Full Article

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