Icelandair turns in strong full-year performance

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Icelandair Group has turned in pre-tax earnings of $57 million for the full year 2012, double the previous level.

The company says its operational performance last year was the best in its history. It says it is "good shape" for continued profitable growth and is estimating EBITDA for 2013 in the region of $115-120 million.

It turned around its fourth-quarter figures in 2012, generating earnings of $5.9 million - an increase of $7 million. During the quarter it raised capacity on international flights by 26%, and carried 21% more passengers, compared with the previous equivalent period.

Icelandair Group says: "It is apparent that the company's clear strategy, with focus on the core business, and the dedication of our staff are the key to these excellent results."