Icelandair Group Annual Report 2007

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32 Senior Management of Icelandair Group Björgólfur Jóhannsson PRESIDENT AND CEO ICELANDAIR GROUP Sigþór Einarsson COO ICELANDAIR GROUP Before joining Icelandair Group Björgólfur was the CEO of Icelandic Group from March 2006. He became the CEO of Síldarvinnslan in 1999 and served as the Director of Innovation and Development at Samherji from 1996. From 1992-1996 Björgólfur was the CFO of UA in Akureyri, having worked as a chartered accountant for two auditing firms from 1980. Björgólfur has served as the Chairman of the Board of the Federation of Icelandic Fishing Vessel Owners since 2003. He graduated with a degree in Business Administration from the University of Iceland in 1983 and became a chartered accountant in 1985. Sigþór was appointed Chief Operating OfficerCOO of Icelandair Group in March 2006. He was Managing Director of Loftleiðir Icelandic from its foundation on January 1, 2002 until 2006. He joined Flugleiðir in April 1996, first in positions related to strategic planning, but as of May 1999 he served as Director of Resource Management where he assumed responsibility for management of all flight-related costs, including aircraft leasing, station management and fuel purchasing. He holds a master’s degree in industrial engineering and management. Hlynur Elísson CFO ICELANDAIR GROUP Hlynur was appointed Chief Financial Officer of Icelandair Group in 2006 after being Icelandair’s Senior Vice President of Finance and Resource Management since April 2005. He joined Flugleiðir in 1995 as Director of Finance of the domestic airline operation and of Air Iceland from 1997. He holds a BS degree in Business from Rockford College, llinois since 1991. Guðjón Arngrímsson VP CORPORATE COMMUNICATIONS OF ICELANDAIR GROUP Guðjón joined Flugleiðir in 2000 as Manager of Public Relations and Company Spokesman and then became Director for Communications for FL Group and Icelandair. He studied English and literature at the University of Iceland and started his carrier in journalism in 1976, working as a reporter and editor for newspapers and TV in Iceland. He also worked in advertising before starting up and managing the PR company Athygli 1990-1998. Gudjon has also written several historical books.
Senior Management of Subsidiaries Senior Management 33 Andri Áss Grétarsson SVP OF FINANCE AND RESOURCE MANAGEMENT, ICELANDAIR Andri was appointed to his current position in April 2006. He joined Flugleiðir in 1998, working first in the Management and Financial Information department and then in the Strategic and Finance division at Flugleiðir. He holds a Cand.Oceon degree from the University of Iceland, and has worked in accounting since 1993. Guðmundur Pálsson SVP OF FLIGHT OPERATIONS, ICELANDAIR Guðmundur was appointed to his current position in 1996. He joined Flugleiðir in 1974, and served initially in the Budget and Long Range Planning Department. In 1980 he became Director of Cash Management and Insurance, serving in that position until 1986 when he was appointed SVP Operations, in which capacity he worked until 1988, when he was appointed SVP Technical. Guðmundur has a degree in business from the University of Iceland. Gunnar Már Sigurfinnsson SVP OF SALES AND MARKETING, ICELANDAIR Gunnar Már was appointed to his current position in March 2005. He started at Icelandair Domestic in Vestmannaeyjar in 1986 and in 1994 he became Sales and Marketing Manager for Air Iceland. In 1997 he became Sales Manager for Icelandair in Germany, based in Frankfurt. Gunnar Már became Director of Sales Planning and Control in 2000 and in 2001 he became General Manager of the Germany, Netherlands & Central Europe region. Gunnar Már has a degree in Business from the University of Iceland. Hilmar Baldursson VP FLIGHT OPERATIONS ICELANDAIR Captain Hilmar Baldursson received his ATP licence in 1975 and joined the company as a co-pilot in 1978, operating domestically within Iceland. He has been a co-pilot and captain on F27, F50, DC8, B727, B757 & B767 aircraft- operated by the Group on domestic and international routes. Over the years he has held the position of B757 Chief Training Pilot, the position of Deputy Chief Pilot since 1997, the position of Chief Pilot since 2004 and then nominated Director of Operations since 2006. Hilmar Baldursson graduated from the University of Iceland in 1977 where he majored in Business Administration.
Page 1: Icelandair Group Annual Report 2007
Page 6 and 7: 4 2007 Calendar January February Ma
Page 8 and 9: 2007 Calendar 6 July August Septemb
Page 10 and 11: 8 Dear Shareholder The principal ai
Page 12 and 13: 10 CEO’s Comment It is both a gre
Page 15 and 16: Another charter for today. TF-FIT d
Page 17 and 18: 15 An Extraordinary Shareholders Me
Page 20 and 21: 18 Board of Directors Gunnlaugur M.
Page 23 and 24: Market Overview 21 The Aircraft Mar
Page 25 and 26: Icelandair Group Fleet 23 2 Boeing
Page 27 and 28: Financials 25 FINANCIAL INCOME AND
Page 29 and 30: Shareholder Information 27 the tota
Page 32 and 33: 30 Risk Management Risk Management
Page 36 and 37: 34 Senior Management Hjörtur Þorg
Page 38 and 39: 36 Senior Management Árni Gunnarss
Page 40 and 41: 38 Our Roots in the Community Icela
Page 42 and 43: 40 Scheduled Airline Operations Sch
Page 44 and 45: 42 Icelandair Icelandair is the lar
Page 46 and 47: 44 and New York to Keflavik and nig
Page 48 and 49: 46 Icelandair Ground Services Inter
Page 50 and 51: 48 Global Capacity Solutions Icelan
Page 52 and 53: 50 Loftleiðir Icelandic Global Cap
Page 54 and 55: 52 Bluebird Cargo Global Capacity S
Page 56 and 57: 54 Chefs at the Hilton Reykjavik No
Page 58 and 59: 56 Air Iceland Travel & Tourism Ope
Page 60 and 61: 58 Icelandair Hotels Outlook Icelan
Page 62 and 63: 60 Iceland Travel At Iceland Travel
Page 64 and 65: 62 Endorsement & Statement by the B
Page 66 and 67: 64 Independent Auditors’ Report T
Page 68 and 69: 66 Consolidated Balance Sheet as at
Page 70 and 71: 68 Consolidated Statement of Cash F
Page 72 and 73: 70 Notes, contd.: 2e. contd.: begin
Page 74 and 75: 72 Notes, contd.: 3c. contd.: (iii)
Page 76 and 77: 74 Notes, contd.: 3. contd.: i. Imp
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82 Notes, contd.: Operating expense
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86 Notes, contd.: 18. contd.: Trade
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88 Notes, contd.: Long-term receiva
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90 Notes, contd.: 28. contd.: Hedgi
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100 Notes, contd.: 38. contd.: Equi
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102 Notes, contd.: 43. contd.: Sala
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104 Notes, contd.: Pro forma 2007 2
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Icelandair Group Annual Report 2007

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