The Icelandair Group has reported a net loss of $14.55 million for the quarter ended March 31, narrowing a $26.72 million loss recorded in the year-ago period. Total group revenue fell 3% to $186.1 million, but transport revenue increased 6% to $128.34 million. Transport accounted for 69% of total revenue, up 5.4%. Total group expenses for the quarter fell 8% to $188.3 million. Icelandair has stated that the improved financial performance is due to an increase in passenger numbers, a record first-quarter passenger load factor and lower fuel prices. President and CEO Björgólfur Jóhannsson said: “Our performance in the first

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