Key Market Indicators
**Icelander Airline Revenue Projected to Reach $1.6 Billion by 2028** Revenue for Icelander Airlines is expected to rise to approximately $1.6 billion by 2028, up from $1.5 billion in 2023. This projection represents an average annual growth rate of 1.8%. However, since 2013, the Icelander market has experienced an annual decline of 2.8%. As of 2023, Iceland ranked 16th in airline revenue, with Sweden surpassing it at the $1.5 billion mark. Germany, Ireland, and Russia occupied the second, third, and fourth spots respectively. **Air Passenger Traffic Surges by 65.8% in 2021** In terms of air passenger traffic, Iceland saw significant growth in 2021. The number of passengers rose to nearly 1.5 million, up from about 900,000 in 2020, marking a 65.8% increase year over year. Despite this surge, the long-term trend shows a decline; since 1975, Icelander demand has fallen by 23.5% annually. In 2021, Iceland ranked 90th globally in air passenger traffic, with Libya overtaking it at the 1.5 million mark. China, India, and Ireland held the second, third, and fourth positions respectively.
