Atlantica - 01.09.2004, Side 9

Dear Passenger,
In July 2004 we at Icelandair celebrated a new record. We carried 185 thousand pas-
sengers, more than ever before in the history of the airline in a single month. This fig-
ure is particularly impressive when compared to the total population of Iceland, our
home market, which is 300 thousand.
In contrast to the international aviation industry, Icelandair has seen unprecedented
success in the last two years. We are offering lower average fares than before, even
though, like other airlines, we have been affected by higher fuel prices this year. We
have been able to control costs and increase the number of passengers by over 20%
compared to last year, and as a result our financial status is very sound and we look
forward to further growth by taking advantage of new opportunities.
Icelandair's international network utilizes Iceland as a hub between five US gateways
(Boston, New York, Minneapolis, Baltimore/Washington and Orlando) and 16
European destinations (Amsterdam, Barcelona, Berlin, Copenhagen, Frankfurt,
Glasgow, Hamburg, Helsinki, London, Madrid, Milan, Munich, Oslo, Paris, Stockholm
and Zurich). Icelandair is increasing capacity by 12% during 2004.
We will seek further opportunities in the international tourist market, which has gen-
erated more growth in travel services in Iceland than it has in the neighboring coun-
tries on both sides of the Atlantic, and our plan is to strengthen even further the oper-
ations of the subsidiaries involved in servicing international tourists.
In addition to the international passenger airline Icelandair, the Icelandair Group con-
sists of flight and travel service companies that form the foundation of the fast grow-
ing Icelandic tourist industry. The Group includes Icelandair, Icelandair Cargo,
Icelandair Hotels, Air Iceland, Iceland Travel, Reykjavik Excursions, Icelandair/Hertz,
Icelandair Ground Services, Icelandair Technical Services, Loftleidir-Icelandic and
Icelandair Shared Services.
A T L A N T I C A 7
Sigurdur Helgason, President and CEO, Icelandair
ICELANDAIR IN-FLIGHT MAGAZINE
Head Office, Advertising:
Heimur Ltd.
Borgartún 23
IS-105 Reykjavík
Iceland
Tel: (354) 512 7575
Fax: (354) 561 8646
Iceland@icenews.is
www.icelandreview.com
Overseas Advertising
Representatives:
DENMARK:
JB Media International
Kongevejen 84,
DK-2840 Holte
Denmark
Phone: (45) 33 85 30 00
Fax: (45) 33 24 28 23
SWEDEN:
SAS Media AB
SE-195 87 Stockholm
Sweden
Tel. (46) 8 797 03 00
Fax (46) 8 728 85 38
UK:
JB Nordic Media Ltd.
20-28 Dalling Road
Hammersmith
London W6 0JB
England
Tel. (44) 181 742 6644
Fax (44) 181 563 7026
BENELUX:
Media Partners
Stroombaan 4
NL-1181 VX Amstelveen
The Netherlands
Tel. (31) 20 547 3600
Fax (31) 20 647 5121
FRANCE:
Inflight Media Marketing (IMM)
80 Rue Montmartre
F-75002 Paris - France
Tel: (33) 1 40 13 00 30
Fax: (33) 1 40 13 00 33
GERMANY:
MP International Media Service GmbH
Buchardst. 17
D-20095 Hamburg
Germany
Tel. (49) 4 3252 6648
Fax (49) 4 3252 6640
USA:
Airgroup One
19 West 36th Street
Suite 7
New York, NY 10018
USA
Tel. (1) 212 244 5610
Fax (1) 212 244 5321
A Proud Record
Sigurdur Helgason, President and CEO, Icelandair
atlantica
007 ATL 504 Sig.Helga 24.8.2004 17:27 Page 9