Press Release | Monthly Traffic Performance Data | February 2010

Icelandair Group Traffic DataBased on figures for the month of February 2010

Icelandair Feb 10 Feb 09 CHG (%) Jan-Feb 10 Jan-Feb 09 CHG (%)

Number of Passangers (PAX) - in thousand....................... 68.190 57.598 18% 139.403 118.007 18%

Load Factor (%)......................................................................... 66,5% 68,1% -1,6 ppt 64,6% 64,4% 0,2 ppt

Available Seat Kilometers (ASK) - in thousand................... 267.558 210.725 27% 569.009 463.438 23%

Revenue Passanger Kilometers (RPK) - in thousand...... 177.972 143.575 24% 367.437 298.487 23%

Air Iceland Feb 10 Feb 09 CHG (%) Jan-Feb 10 Jan-Feb 09 CHG (%)

Number of Passangers (PAX) - in thousand....................... 26.310 26.447 -1% 50.581 50.511 0%

Load Factor (%)......................................................................... 70,4% 71,6% -1,1 ppt 66,3% 68,9% -2,6 ppt

Available Seat Kilometers (ASK) - in thousand................... 10.559 10.375 2% 21.475 20.594 4%

Revenue Passanger Kilometers (RPK) - in thousand...... 7.438 7.424 0% 14.239 14.182 0%

Capacity Feb 10 Feb 09 CHG (%) Jan-Feb 10 Jan-Feb 09 CHG (%)

Fleet Utilization (%)................................................................... 86,1% 77,8% 8,3 ppt 90,2% 82,8% 7,4 ppt

Sold Block Hours...................................................................... 3.849 3.078 25% 8.082 6.897 17%

Cargo Business Feb 10 Feb 09 CHG (%) Jan-Feb 10 Jan-Feb 09 CHG (%)

Available Tonne Kilometers (ATK) - in thousand................ 12.357 10.651 16% 24.646 23.553 5%

Freight Tonne Kilometers (FTK) - in thousand.................... 7.106 6.759 5% 13.695 14.494 -6%

Tourism Feb 10 Feb 09 CHG (%) Jan-Feb 10 Jan-Feb 09 CHG (%)

Available Hotel Room Nights.................................................. 14.896 14.896 0% 31.148 31.268 0%

Sold Hotel Room Nights.......................................................... 9.557 7.880 21% 17.192 15.154 13%

Utilization of Hotel Rooms....................................................... 64,2% 52,9% 11,3 ppt 55,2% 48,5% 6,7 ppt

For further information please contact Bogi Nils Bogason – CFO of Icelandair Group

Reykjavík Airport | 101 Reykjavík Iceland | Tel: +354 50 50 300 | Fax: +354 50 50 389

Key Markets Status:

Number of passengers in February increased

by 18%. RPK increased by 24%.

All markets: To Iceland, From Iceland and VIA

Iceland grew. Sales especially good on the TO

market from US and UK. All VIA markets with

major growth.

Feb2010

Icelandair Group – focus on Icelandair

Operations in February:

Total capacity increase year-on-year was 27%. US capacity increased by 44% and has not been as high since 2006. Meanwhile capacity by other European airlines on the N-Atlantic in February is down by 2% total.

Load factor was 66,5%, 1,6% lower than in February 2009

Next traffic data for Icelandair Group will be released on April 9th 2010

Feb2009

To Iceland48%

From Iceland28%

Via Iceland24%

To Iceland53%

From Iceland30%

Via Iceland17%