Icelandair shares hit 7-year high

Updated revenue forecasts and higher profits for Iceland’s national airline pushed up the price of Icelandair Group shares today.

Shares in Icelandair rose 2.17% in the course of trading today, and trading revenue in the airline’s shares totalled ISK 295.3 million (approx. €2 million) when the markets closed at 4pm.

One share in Icelandair now costs ISK 25.85 (approx. €0.17), the highest price since February 2008.

A press release issued by Icelandair Group yesterday evening indicates that falling fuel prices, among other factors, have led to a 10%+ increase in second-quarter EBITBA (earnings before interest, taxes, depreciation, and amortisation), as compared to the same period last year.