Three companies form the Travel and Tourism Business Platform of the Group. They are Iceland Travel, a tour operator and travel agency in incoming tourism, Icelandair Hotels, which markets and operates two hotel chains, Icelandair Hotels and Edda Hotels, and Air Iceland a scheduled domestic carrier that also offers regular flights to Greenland and the Faeroe Islands.
Their main function is to show profitable results, as well as to provide strategic support to the international scheduled operations, and to harvest the growth of tourists coming to Iceland. All these companies have recently shown improved results.
The total turnover of these companies in 2006 was ISK 8.7 billion and their EBITDA was ISK 1.1 billion, an increase of ISK 463 millions.
What characterised the operations of the year 2006 was improved sales focus, and tight cost control at the hotels, restructuring of Iceland Travel by selling off sales offices abroad, and investment in new aircraft type and an increase in passenger numbers at Air Iceland.