Contribution to the economy

As an island country located in the middle of the Atlantic, Iceland is dependent on efficient flight connections for international relations, business, travel and to maintain a good quality of life. Icelandair is the leading airline in Iceland and the largest private employer in the country. Therefore, the successful ramp-up of our operations following the pandemic has been crucial for the recovery of Icelandic tourism and economy. In 2022, we brought around 740 thousand tourists to Iceland and recruited around 1,000 employees.

Significant impact

Icelandair contributes directly to the Icelandic economy in the form taxes and fees paid to the government and municipalities. The total tax footprint of Icelandair in 2022 amounted to USD 186 million in 2022 and USD 633 million in total from the year 2019.

Additionally, the indirect impact of our operations is considerable. We transported around 740 thousand tourists to Iceland in 2022 that spent around USD 1 billion on products and services within Iceland during their stay. We also play an important role in the Icelandic seafood industry by securing transport of fresh products to key markets in Europe and North America.

We recruited almost 1,000 employees during the year, bringing the number of FTEs to 3,045 on average in 2022.

The total tax footprint of Icelandair in the years from 2019 to 2022 amounted to USD 630 million.

Icelandair total tax footprint in USD millions

Icelandair direct and indirect impact on Icelandic economy in USD millions