Icelandair Group: Traffic Data November 2012

The Company carried 131 thousand passengers on international flights in
November. The number of passengers was up by 25% as compared to November last
year. The capacity increase compared to November 2011 was 31%. The passenger
load factor was 75.9% compared to 76.9% last year.

Passengers on regional and Greenland flights were a little less than 26
thousand in November, which was a 4% decrease from November last year. The
load factor was 72.4%, increasing by 5.6 percentage points compared to November
2011. Sold block hours in charter flights decreased by 12% in November. The
decrease is due to one less aircraft being deployed in charter cargo flights
than last year. Cargo transport increased by 6% as compared to November last
year. The number of available room nights was up by 24% from previous year. The
room utilization was 61.8%, 5.9 percentage points higher than in November 2011.