Icelandair achieves record load factor in November

Icelandair's passenger numbers rise 6.4% year-on-year

In November 2024, Icelandair carried over 300,000 passengers, marking a 6.4% increase compared to November 2023. Of these, 34% were traveling to Iceland, 19% from Iceland, 41% transited through Iceland, and 6% traveled domestically. Year-to-date, the airline has transported 4.3 million passengers, reflecting an 8% rise compared to the previous year.

Record-high load factor and on-time performance

Icelandair achieved a record load factor of 82.4% in November, a 7-percentage-point increase from the previous year. This growth is attributed to strong demand across all markets, rebounding from the impact of volcanic activity in Iceland in 2023. The airline also recorded an impressive 84.7% on-time performance rate during the month.

Challenges in domestic operations

While domestic demand remained steady, adverse weather conditions led to around 15% of capacity being canceled, which reduced passenger numbers on national routes.

By increasing the use of Boeing 737 MAX aircraft and maintaining a high load factor, Icelandair reduced its CO₂ emissions per revenue tonne kilometer by 15% compared to November 2023.

Fleet upgrade with Airbus A321LR

In December, Icelandair took delivery of its first Airbus aircraft in the company’s 87-year history, an A321LR. This new model will replace the Boeing 757, offering seating for 187 passengers, including 22 in Saga Premium and 165 in Economy Class. With a range of up to 4,000 nautical miles, the A321LR can serve all destinations currently operated by the B757 while being up to 30% more fuel-efficient, aligning with the airline’s sustainability goals.

Bogi Nils Bogason, Icelandair’s President and CEO, commented: “I am pleased with the continued positive trend in our passenger numbers, especially the growth in travelers visiting Iceland. The outbound market also performed well, with an 8% increase year-on-year. Throughout November, we maintained strong on-time performance and load factor results, demonstrating the strength and reliability of our network.” The addition of the A321LR represents a significant milestone in Icelandair’s fleet renewal efforts, further supporting its goals for efficiency and sustainability.

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