The Board of Directors of Icelandair Group has decided to make structural changes at the company. After the changes, the operations of Icelandair Group and Icelandair will be integrated under one CEO and the finance departments of the companies will be combined. The CEO of the company will be Björgólfur Jóhannsson and the CFO will be Bogi Nils Bogason. Following the changes, two subsidiaries of Icelandair Group, IGS and Icelandair Cargo will become part of Icelandair but both companies are now subsidiaries of Icelandair Group. Birkir Hólm Guðnason will leave the position of CEO, Icelandair.

The changes will lead to a clearer focus on the core business of the group and the integration will facilitate simpler and more efficient operations.

Úlfar Steindórsson, Chairman of the Board of Directors: „ The structural changes will strengthen the Company and sharpen the focus on core operations. The company's aviation operations play the largest role in the overall operations and financial results of the Group and it is important that the company's structure reflects that fact. The Company is in a strong position to handle rapid changes in the operational environment and take advantage of exciting opportunities in the market. This change strengthens the Company´s platform for growth and enables it to further meet the needs of its customers in an efficient way with a focus on great customer service.”

I would like to thank Birkir Hólm Gudnason for his good work for Icelandair. He has been instrumental in the Company´s growth and success in recent years.”