Stakeholder engagement

Icelandair has an ongoing dialogue and cooperation with a wide range of stakeholders through its business operations and customer engagement, which includes sustainability-related issues.

Our primary stakeholders

Our key stakeholders are our customers, employees, shareholders, business partners and suppliers, the tourism industry, NGOs and business associations, government and regulators. For reviewing which topics are the most relevant and material in terms of sustainability for Icelandair we strive to have a continuous engagement with our internal and external stakeholders. This engagement has raised our awareness of trends in society and helped identify the Company’s impact on society and the environment.

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Primary stakeholders Our responsibility
Business partners and suppliers + Sustainability
+ Good business practices
+ Responsible supply chain
Employees + Health and safety
+ Equal rights and equal pay
+ Employee satisfaction
+ Training and competence development
Customers + Health and safety
+ Simplicity in booking process and change process
NGOs and business associations + Sustainability
+ Good business practices
Government and regulators + Compliance with regulations
Tourism industry + Cooperation groups
+ Sustainability
Shareholders + Good business practices
+ Good governance practices
+ Sustainable growth
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Material topics

Icelandair has performed a materiality analysis to identify its key economic, environmental and social impacts. As a background for the materiality analysis, the Company worked with an industry benchmark, a trend analysis, a sustainability risk assessment and a mapping of its significant positive and negative impact on the Sustainable Development Goals, as well as the results of its stakeholder engagement. A wider team from across the Company then validated the most material topics for the Company.

Icelandair's sustainability strategy is closely aligned with four of the SDGs. The four key goals that were chosen represent areas where the Company concluded that it can have a significant impact and create shared value.

Strategic focus areas and key goals

SDG #5 Gender Equality: with a focus on the gender ratio at the management level, among pilots, cabin crew and maintenance roles to work towards a more equal gender representation.

SDG #8 Decent Work and Economic Growth: with a focus on promoting policies to support job creation and growing enterprises, as the leading airline and an important employer, and to promote beneficial and sustainable tourism.

SDG #12 Responsible Production and Consumption: with a focus on our operation to promote sustainable procurement practices, and substantially reduce waste generation.

SDG #13 Climate Action: with a focus on our flight operations and ground vehicles to ensure that the Company does all it can to limit its climate impact.

Based on our materiality analysis, the following topics are the most material for Icelandair and its stakeholders and are covered in this report.

This Annual and Sustainability Report is a key part of our commitment to communicate transparently with stakeholders.