The purpose of the Icelandair Group is to provide its shareholders with a good return on their investment. The Group achieves this by owning and operating profitable and dynamic service companies with strong growth potential in the airline, transportation and tourism industries. The strategy is to efficiently align the operations of the companies within the Group in order to maximise each company’s potential for outstanding performance and capability of growth, both organic and through mergers and acquisitions.
The operation of Icelandair Group is divided into 12 subsidiaries. Each business is managed to create value through strategic and business development decisions.
The largest subsidiary is the international airline Icelandair, which accounts for approximately 52% of the Group‘s turnover in 2006. Other companies are Icelandair Technical Services, Icelandair Ground Services, Lofteiğir-Icelandic, Icelandair Cargo, Bluebird Cargo, Air Iceland, Iceland Travel, Icelandair Hotels, Icelease, Icelandair Shared Services and Icecap. On 31 December 2006, the Company employed 2,747 people.
To enhance the Group’s performance further, it has been structured in three business platforms and one support area which consists of two companies that provide shared services for the Group. These support units are a financial services provider, Icelandair Shared services, and an internal insurance company, IceCap.