Icelandair Group hf.: Icelandair Group hf.: Transactions in relation to share repurchase program

In Week 10 2018, Icelandair Group hf. (The "Company") purchased 21,197,337 of
its own shares. The total purchase price is ISK 338,744,072, as detailed below: 

  Date     Time   Purchased      Share     Turnover    No. of own shares after  
                    shares       price                       transaction        
--------------------------------------------------------------------------------
5.3.2018  14:00     5.000.000      16,25  81.250.000                 144.460.000
5.3.2018  14:19        40.232      16,25     653.770                 144.500.232
6.3.2018  10:16     2.000.000      16,30  32.600.000                 146.500.232
6.3.2018  11:00     1.000.000      16,30  16.300.000                 147.500.232
7.3.2018  09:30       500.000      15,80   7.900.000                 148.000.232
7.3.2018  09:30       500.000      15,80   7.900.000                 148.500.232
7.3.2018  09:31     1.000.000      15,75  15.750.000                 149.500.232
7.3.2018  09:47     1.000.000      15,85  15.850.000                 150.500.232
7.3.2018  09:47     2.040.232      15,85  32.337.677                 152.540.464
8.3.2018  09:48     3.000.000      15,95  47.850.000                 155.540.464
8.3.2018  10:43     2.040.232      15,90  32.439.689                 157.580.696
9.3.2018  12:33        76.641      15,50   1.187.936                 157.657.337
9.3.2018  14:16     3.000.000      15,58  46.725.000                 160.657.337

Prior to the aforementioned share repurchase, the Company owned 139,460,000 of
its own shares but now owns 160,657,337 of its own shares, corresponding to
3.21% of the Company's total share capital. 

The trade is in accordance with a share repurchase program authorized by the
Annual General Meeting on the 3rd of March 2017 and has been put in motion
according to an announcement published in NASDAQ Iceland on the 1st of March
2018. 

Icelandair Group hf. has acquired 21,197,337 of its own shares under the
program which corresponds to 0.42% of the total share capital and the total
value of repurchased shares amounts to ISK 338,744,072. According to the
program, The Company may not purchase more than 50,000,000 of its own shares,
corresponding to 1.00% of the total share capital. The total consideration for
shares under the program shall not exceed ISK 750 million. The share repurchase
program is valid until September 3rd 2018 or until the total allowed amount of
shares are purchased by the Company, whichever happens first. 

The share repurchase program is executed in accordance with Chapter VIII. of
Act No. 2/1995 on Public Limited Companies and Chapter II of the Annex to
Regulation No. 630/2005 on Inside Information and Market Abuse, with later
amendments. 

For further information, please contact:

Bogi Nils Bogason, CFO
[e-mail]

Tel: [phone]