Icelandair reports a difficult operating year

Icelandair has reported a loss after tax of US$76.5 million for 2018 compared to a profit of $37.5 million in 2017. Total income rose by 7% to $1,511 million. 2018 EBITDA was $76.5 million, compared to $170.1 million in 2017. EBITDA in the fourth quarter of 2018 was negative by $35.0 million. The airline has specifically called out low average air fares, increased oil prices and carbon emission allowances and poor results of the domestic operation for its dismal Q4 results. “2018 was a difficult business year,” said Bogi Nils Bogason, President & CEO. “Results fell short of our projections