Icelandair Group posted a net loss of $8.2 million for the fourth quarter, compared with net loss of $1.6 million in the same period of 2011.
The carrier reported total revenues of $189 million, up 26.1% year-over-year. Earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 7% to $5.9 million in the fourth quarter.
The number of passengers on international flights increased by 21%, with international load factors decreasing 1.2 percentage points to 76.7%.
On regional flights - comprising domestic routes and services to Greenland - passenger numbers declined 4% alongside a 6.4 percentage points growth in load factor to 72.1%.
On the cargo front, FTK freight traffic increased by 6% during the quarter.
For the 2012 full-year, Icelandair's net profit rose by 21.9% to $44.3 million compared with 2011.
The group's EBITDA increased 29.1% to $110 million for the 12 months to 31 December 2012.
Operating income for the year grew 13.7% to $899 million, while operating expenses amounted to $789 million, an increase of 11.8% year-on-year.
Passenger revenues grew by 20% year-on-year to $565 million, while aircraft fuel expenses grew by 22.5% to $220 million. Aircraft maintenance costs fell by 9.44% year-on year to $53 million.
Cash and cash equivalents at the end of the year amounted to $117 million.
For 2013, the company says it expects EBITDA to be in the range of $115-120 million.