Icelandic airports operator Isavia reported a 75% year-on-year rise in revenue in 2022 to over ISK 36bn (US$ 260 million) as passenger numbers through Keflavik Airport nearly tripled to 6.1 million and took the hub close to the 2019 level.
Earnings (EBIDTA) came to ISK 5.2bn, a ISK 6bn improvement on the 2021 loss in EBIDTA terms. But the company recorded a net loss in 2022 of ISK 617 million, in part due to the negative exchange rate effect on a long-term loan of ISK 868 million. Isavia said it has cash of almost ISK 10bn at the end of 2022.
“2022 was the long-awaited turnaround following a two-year period of uncertainty caused by the pandemic,” says Isavia chief executive Sveinbjörn Indriðason.
“Seat availability to and from Keflavík International Airport was 12% higher this winter than during the winter immediately preceding the pandemic. The airports in Copenhagen, Oslo, Stockholm and Helsinki – a yardstick for our airport – have seen a fall in seat availability of 8–25%," Indriðason added.