Icelandair reports $20m net profit for Q3 2021

Icelandair Group generated US$19.6 million in net profit in the third quarter (Q3) 2021 despite the Delta variant negatively impacting September load factor and unit revenues. Icelandair further strengthened its liquidity, which amounted to US$454.4 million at the end of the quarter. Net cash from operations was US$25.2 million compared to a loss of US$88.3 million in Q3 2020. Icelandair continued its network and operational ramp up during the quarter, serving 34 international destinations, 11 in North America and 23 in Europe. The total number of passengers was around 700,000 – which is almost fourfold compared to last year –