By David Kaminski-Morrow2021-04-29T20:12:00+01:00
Icelandair Group has highlighted cargo activity as a strong performance area in the first quarter, a period in which the company generated a net loss of just over $30 million.
Revenues for the first three months of the year reached $57.3 million, a decline of 73%, but the company points out that cargo revenues increased by 64%.
Freight volumes, it adds, exceeded those from prior to the pandemic.
But international route bookings for the second quarter are “still weak”, it says, although it remains confident that a “moderate” ramp-up will emerge over the period.
It expects further capacity increases from the third quarter. “Given the current booking status, the outlook for the [fourth] is good,” it adds.