Traffic Data May 2011

Icelandair carried over half a million passengers in the first five months of
the year

Icelandair carried 136 thousand passengers in May, an increase of 22% since
last year. The load factor was 77.2%. The total number of passengers carried
by Icelandair in the first five months of 2011 was over half a million, an
increase by almost one hundred thousand passengers compared to the same period
2010. Air Iceland carried 28% more passenger in May 2011 than in May 2010,
which corresponds to the capacity increase since last year. Load factor was
63.6%.

Sold block hours increased by 32% in May, due to more projects at Loftleidir.
Freight increased by 3% in May compared to last year, the main reason being
increased imports to Iceland.

Please note that comparison between years is to some extent distorted, due to
the volcanic eruption in Eyjafjallajökull last year and in Grimsvotn this year.