Icelandair reports declines for Q1 2021

For the first quarter of 2021, Icelandair has reported a 73% drop in total revenue to US$57.3 million, on the back of a 92% decline in capacity. Icelandair’s net loss fell to $30.1 million. The airline has reported strong cargo revenues for the quarter – up by up by 64% – stating that freight volumes exceeded pre-COVID levels. Charter and leasing services through Loftleidir-Icelandic have also generated important revenue streams for the Group Icelandair has total liquidity of $281.9 million. The airline reports weak bookings for the second quarter, with restrictions still impacting many routes. It expects a moderate ramp-up