AFTER POSTING poor financial results, the Icelandair Group has announced that it plans to turn around its ailing cargo division by implementing a number of improvement measures.
The company said that its cargo division had generated full-year revenues of $88.3m during 2023, down from the previous year’s total of $90.8m. Despite its performance improving between the third and fourth quarters, the revenues were still lower in Q4 2023 compared to the same period in 2022. However, during the presentation of its financial results for 2023, the group said that positive earnings before interest and taxes (EBIT) were expected in 2024.