Annual and Sustainability Report 2022
Our strategy

Our strategy

Icelandair's corporate strategy provides a compass for the entire organization, articulating its vision for the future, strategic priorities and the core values of the Company.

Icelandair's vision, the guiding light of the organization, is to bring the spirit of Iceland to the world and its mission is to offer smooth and enjoyable journeys to, from, via and within Iceland, our hub and home. The values of passion, simplicity and responsibility represent the principles of the culture the Company aims to foster.

Our strategy further developed in 2022

In 2022, Icelandair reviewed and developed its strategy further by establishing the guiding principles that represent the key to successful decision-making and resource allocation. The aim was to make the strategy clearer and easier to communicate. These changes ensure that the strategy is more direct and are based on employee feedback to better align the strategy with daily operations.

The three guiding principles are the way to fly to, from, via and within Iceland – which is a reminder to continually strive to bolster the Company's value proposition and improve customer experience. Agile and financially sustainable business – which highlights the value of operating in a nimble manner and acting quickly, while being financially responsible. Finally, embracing our people and the planet – which underlines that all decisions should be made with full consideration given to the Company's responsibilities towards its people, the wider community and the environment

Sustainability at the center

Sustainability is at the center of our strategy and it plays an important role in our day-to-day decisions and operations. We have policies and internal procedures in place to implement strategic action plans and to comply with all relevant legislations. Since 2020 the Company has participated in the UN Global Compact project and has committed to implementing its ten principles in the areas of human rights, labour, the environment and anti-corruption. Icelandair also supports the UN Sustainable Development Goals (SDGs) and has chosen four goals that represent the Company’s key sustainability focus areas. By linking these SDG focus areas to our strategy, and by systematically reviewing our economic, social and environmental impacts, we put our work in the context of these universal goals.

Our key sustainability focus areas

We create shared value by:

Focusing on limiting climate impacts

Driving change through responsible procurement

Generating jobs and benefiting the ecomony

Promoting gender equality