Icelandair posts improved operating results in Q4 2021

Icelandair’s net loss in the quarter was US$39.4 million and decreased by US$43.9 million compared to 2020. EBIT improved between years by US$24.6 million, which is the strongest EBIT result in the fourth quarter since 2016. The market price of fuel was on average 12% higher than in Q3 and 91% higher compared to Q4 last year. The company’s financial position was strong at year-end with total liquidity amounting to US$435.0 million and equity ratio at 19%. Icelandair fourth quarter capacity in the route network reached 65% of Q4 2019 levels compared to 50% in the third quarter. Unit revenues